Entrepreneurial e-equity crowdfunding platforms: antecedents of knowledge acquisition and innovation performance

Purpose: The crowdfunding concept and activities have recently been the focus of attention of many researchers and practitioners over different business contexts. However, there is a dearth of literature considering the main aspects of e-equity crowdfunding activities and their impact on the innovation performance for entrepreneurial business. Therefore, this study aims to explore how entrepreneurs' engagement in e-crowdfunding activities could enhance both knowledge acquisition and innovation performance. Design/methodology/approach: The conceptual model will be proposed based on three main theoretical perspectives: relationship marketing orientation (RMO); Kirzner's alertness theory; and the DeLone and McLean model of information systems. The data of the current study were collected using an online questionnaire from a sample of 500 entrepreneurs who have actively engaged in e-crowdfunding in Saudi Arabia. Findings: The statistical results of structural equation modelling (SEM) approved the impacting role of RMO, entrepreneurial alertness, system quality and service quality on the entrepreneurs' engagement in e-equity crowdfunding, which in turn, predicts both knowledge acquisition and innovation performance. Research limitations/implications: There are several limitations which could be addressed in future studies, for example, this study has only considered one form of crowdfunding (equity based crowdfunding) and due to its nature these findings would not be easily generalized to other kinds of crowdfunding (i.e. donation-based crowdfunding; rewards-based crowdfunding; and debt-based crowdfunding). Future studies could consider these kinds of crowdfunding activities. Originality/value: This study has contributed to the understanding of e-equity crowdfunding in several aspects. For example, this study presents results that assist both researchers and practitioners in the Middle East and Saudi Arabia to develop an in-depth knowledge of e-equity crowdfunding by considering new dimensions such as RMO and information system success factors.