Study on the Investors’ Participation Motivations in Award-Based Crowdfunding

Abstract

Crowdfunding, as a new financing model, has drawn more and more attention in the rapid development of Internet financing. This paper will select the investors in awardbased crowdfunding as the study object, apply grounded theory to explore their participation motivations in the crowdfunding, including 4 major categories: internal motivation, external motivation, internalized external motivation and behavior and 17 sub-categories, further discuss the relationship between the motivations and build a model for analysis.