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我国的众筹平台在支持模式的设置方面,可以按照是否有抽奖档位分为两类。通过对比这两类众筹平台和项目我们发现,引入抽奖模式的众筹在实践上取得了巨大的成功。这一支持模式的成功在于降低了参与门槛,让更多人参与到项目中来,从而提升支持人数,并通过羊群效应,最终影响项目的众筹绩效。我们的发现可以阐释为以投资者人数为中介变量的中介模型。在抓取更多数据(点赞数量)的基础上,我们也识别出社会认同对模型的调节作用。具体而言,即通过影响投资者人数,抽奖档位(一元档位)的人数与众筹绩效正相关,同时,其对投资者人数的影响受到点赞数量的调节。
The crowdfunding platform in our country can be divided into two categories according to whether there are lottery stalls or not in the setting of support modes. By comparing these two types of crowdfunding platforms and projects, we found that crowdfunding, which introduced the lottery model, has achieved great success in practice. The success of this support model lies in lowering the participation threshold and getting more people involved in the project, thereby increasing the number of supporters and ultimately affecting the crowdfunding performance of the project through herding. Our findings can be interpreted as an intermediary model that takes the number of investors as a mediator. On the basis of capturing more data (number of likes), we also identify the regulatory role of social identities in the model. Specifically, by influencing the number of investors, the number of lottery stalls (one-stop stalls) is positively related to crowdfunding performance, while its impact on investor numbers is adjusted by the number of likes.