Abstract
Based on cognitive appraisal theory, this research explores the internal mechanism of stimulating the cognitive and emotional responses of backers by manipulating project innovation and information transparency of fundraisers in the context of reward-based crowdfunding, thereby inducing backers’ impulsive support. In this study, a 2×2 inter-group experiment was designed and a structural equation model was established, which was tested with 236 backers participating in reward-based crowdfunding events as a data sample. The results show that project innovation and information transparency of fundraisers are significantly positively correlated with the backers’ cognitive appraisal of situational state, which in turn affects the backers’ positive emotion of joy and induces their impulsive support. At the same time, they are considered to be the direct cause of the impulsive support of backers.
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