摘要
基于社会资本理论与资源基础理论,探究了连续众筹项目发起人内部社会资本影响融资绩效的中介机制及其边界条件。以我国综合性平台众筹网2013年12月至2017年12月的570个项目数据为样本进行实证分析,结果显示:连续发起人内部社会资本显著促进后续项目融资绩效;早期资源获取在连续发起人内部社会资本与融资绩效间起完全中介作用;时间距离正向调节连续发起人内部社会资本与早期资源获取影响的直接关系以及内部社会资本与融资绩效的间接关系。
Based on social capital theory and resource-based theory, this paper explores the impact of crowdfounders' internal social capital on performance by testing a moderated mediation model. Using the data from Crowdfunding Net from December 2013 to December 2017, one comprehensive crowdfunding platforms in China, results show that crowdfounders' internal capital positively affects the performance of serial crowdfunding; early resource acquisition fully mediates the relationship between crowdfounders' internal social capital and the performance of serial crowdfunding; time interval positively moderates the effect of crowdfounders' internal social capital on serial crowdfuding's performance.
引文
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