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Crowdfunding: Just the latest fad?

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  • 1. Zaheer SHAIK(B.Tech, MBA)PhD candidate,ESSEC BusinessSchool, ParisDavid Avison(Supervisor)ESSECCrowd funding:Just the latestfad?
  • 2. $108,371 raised of $53,800 Goalhttp://www.indiegogo.com/projects/full-page-ad-for-turkish-democracy-in-action
  • 3. What is crowd funding?ESSEC
  • 4. What is crowd funding?ESSEC
  • 5. Diffusion of innovationESSEC
  • 6. Abrahamson, 1991ESSEC
  • 7. Abrahamson, 1996ESSEC
  • 8. Abrahamson and Fairchild, 1999ESSEC
  • 9. Fashion trends cycleUpswingDownswingPeakResidualESSEC
  • 10. Baskerville and Myers, 2009Propose a fashion trends modelESSEC
  • 11. What is missing?• Actors given more importance than content• Cumulative study vs. longitudinal effects• Model unable to predict correctly• A new model neededESSEC
  • 12. Upswing phenomenonPhenomenonin real lifePractitionerliteratureAcademicliteratureBecomesmainstreamtalk Becomes aninnovativephenomenonBuilding theory toexplainphenomenonESSEC
  • 13. Downswing phenomenonPhenomenonin real lifePractitionerliteratureAcademicliteratureResidualeffectLoses mainstreaminterestLoses interest as aninnovative phenomenonSubstantial researchdoneLag betweenpractitioner andacademic literatureESSEC
  • 14. Longitudinal effectsCurrent phenomenonDownswingResidualeffectUpswingt=Tt=T+1ResidualeffectESSEC
  • 15. Longitudinal effectsPhenomenonin real lifePractitionerliteratureAcademicliteraturePhenomenonin real lifePractitionerliteratureAcademicliteratureResidualeffectt=Tt=T+1ResidualeffectESSEC
  • 16. Methodology• Phase I – systematic literature review –Okoli and Schabram (2010)• Phase II – discourse analysis -Abrahamson and Fairchild (1999)• Search string– “crowd funding” or “crowd-funding” or“crowdfunding”• 359 papers – 266 shortlistedESSEC
  • 17. Discourse analysisTerm Definition Example (crowd funding)ProblemdiscourseA fashion upswing discourse proposing theoriesabout the problem source motivating fashion.Venture capital funding is a riskwhen all funds are invested in oneventure.SolutiondiscourseA fashion upswing discourse describing thefashion with claims that it is all powerful in scopeand impact.Crowd funding spreads the risk ofventure capital funding and givesmore choice to investors.BandwagondiscourseA fashion upswing discourse relating stories aboutfirms successfully adopting the fashion.Kickstarter has used crowd fundingeffectively to raise funds for itsusers.DebunkingdiscourseA fashion downswing discourse advocatingrejection of the fashion.Crowd funding was simplysomething used to get aroundstringent investment laws.SurfingdiscourseA fashion downswing discourse advocating atransition from one fashion to the next.Crowd funding will transition into anew and different form because ofthe JOBS Act.SustainingdiscourseA fashion downswing discourse advocating thefashion despite falling interest.Crowd funding will sustain despitethe JOBS Act coming into being.
  • 18. Expected results• Existence of fashion trends in IS topics• Existence of synchronized agendabetween practitioner and academicpublications• Move towards building a model that canbetter explain fashion trends in IS literatureESSEC
  • 19. Future research• Complete SLR and discourse analysis• Check for the robustness of the method• Test and refine the model• Test the model on other phenomenonESSEC
  • 20. Thank youDiscussion timeZaheer SHAIKzaheer.shaik@essec.eduESSEC

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