Perceptions of market orientation in emerging economy entrepreneurship: evidence from crowdfunding

Abstract

PurposeThe purpose of this study is to examine how crowdfunding backer perceptions of market orientation and foreignness impact crowdfunding performance in emerging economies.Design/methodology/approachUsing content analysis software, the authors analyzed 756 Kickstarter campaign narratives from the emerging economies of Brazil, Russia, India, China, and South Africa for the period between 2009 and 2019.FindingsThe authors’ results show that behavioral market orientation signals are positively related to amounts raised while decision criteria signals are negatively related. The authors also find that foreign entrepreneur status interacts with the two market orientations to impact funding amounts.Practical implicationsWhen creating crowdfunding campaigns in emerging economies, domestic entrepreneurs should use high levels of behavioral market orientation rhetoric but low levels of decision criteria rhetoric within their campaign narratives.Originality/valueThis study unpacks the components of market orientation and examines their positive and negative effects on crowdfunding success in the context of emerging economies.