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The More, the Merrier? The Bystander Effect on Crowdfunding Platforms
Figure 1 Research Framework
3. Data and Method
3.1 Sample Construction and Data Collection
As the goal of this paper is to test research hypotheses about crowdfunding, we
extracted data from flyingV, one of the largest and dominant reward-based crowdfunding
platforms in Taiwan. flyingV, established in 2012, operates under the All-or-Nothing
model, which is a commonly used model for crowdfunding platforms. That is, founders
can receive the funds raised if they meet or exceed their pre-set funding goal by the end
of a campaign. For crowd funders, they receive tangible products or services in return for
their financial contributions. Since its inception in 2012, flyingV had raised more than
NT$1.6 billion from backers by the end of 2019 (Backer-Funder, 2020).
We hand-collect 5,773 daily observations from the webpage of the 191 projects on
the flyingV platform from December 2, 2014 to March 11, 2015 and extracted related
information such as funding days, the amount of target pledges, the number of backers,
and the number of supporters.
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