The impact of soft information extracted from descriptive text on crowdfunding performance
作者：
Highlights：
• Crowdfunding success is heavily challenged by information asymmetry.
• We investigate the impact of soft information on crowdfunding performance.
• We extract soft information from both project topics and investor sentiments.
• Empirical analysis is conducted on the Dreamore, a crowdfunding platform in China.
• The results show that soft information contributes greatly to crowdfunding success.
摘要
•Crowdfunding success is heavily challenged by information asymmetry.•We investigate the impact of soft information on crowdfunding performance.•We extract soft information from both project topics and investor sentiments.•Empirical analysis is conducted on the Dreamore, a crowdfunding platform in China.•The results show that soft information contributes greatly to crowdfunding success.
论文关键词：Crowdfunding,Soft information,Information asymmetry,Signal theory,LDA,Sentiment analysis
论文评审过程：Received 21 December 2019, Revised 27 June 2020, Accepted 13 August 2020, Available online 19 August 2020, Version of Record 3 September 2020.
论文官网地址：https://doi.org/10.1016/j.elerap.2020.101002
