Tone of mass media news affect pledge amounts in reward crowdfunding campaign

Detalhes bibliográficos
Autor(a) principal: Mendes-da-Silva, Wesley
Data de Publicação: 2022
Outros Autores: Felipe, Israel José dos Santos, Leal, Cristiana Cerqueira, Aguiar, Marcelo Otone
Tipo de documento: Artigo
Idioma: eng
Título da fonte: Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
Texto Completo: https://hdl.handle.net/1822/75887
Resumo: We study whether the tone of the daily news in mass media, used as a proxy for market sentiment, affects the typical daily pledge amount in reward crowdfunding campaigns. Based on unique data from over 350,000 pledges in reward crowdfunding campaigns in over 2,600 cities in Brazil, we find that market sentiment affects the willingness of backers to make larger pledges. Our unprecedented results reveal that good news induces pledges of larger amounts. The effect of tone over pledge amounts is inhibited by the geographic distance backer-entrepreneur, and it is reinforced by the income inequality in the pledger’s city.
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spelling Tone of mass media news affect pledge amounts in reward crowdfunding campaignNatural Language ProcessingCrowdfundingInvestor sentimentMediaWe study whether the tone of the daily news in mass media, used as a proxy for market sentiment, affects the typical daily pledge amount in reward crowdfunding campaigns. Based on unique data from over 350,000 pledges in reward crowdfunding campaigns in over 2,600 cities in Brazil, we find that market sentiment affects the willingness of backers to make larger pledges. Our unprecedented results reveal that good news induces pledges of larger amounts. The effect of tone over pledge amounts is inhibited by the geographic distance backer-entrepreneur, and it is reinforced by the income inequality in the pledger’s city.This work was supported by the National Council for Scientific and Technological DevelopmentCNPq [grant number 47089420148]; the São Paulo Research FoundationFAPESP [grant number 17/09306-6].Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoMendes-da-Silva, WesleyFelipe, Israel José dos SantosLeal, Cristiana CerqueiraAguiar, Marcelo Otone20222022-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/1822/75887enghttps://nipe.eeg.uminho.pt/publicacoes-nipe/#documentos-de-trabalhoinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-07-21T12:36:45Zoai:repositorium.sdum.uminho.pt:1822/75887Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-19T19:32:55.020948Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse
dc.title.none.fl_str_mv Tone of mass media news affect pledge amounts in reward crowdfunding campaign
title Tone of mass media news affect pledge amounts in reward crowdfunding campaign
spellingShingle Tone of mass media news affect pledge amounts in reward crowdfunding campaign
Mendes-da-Silva, Wesley
Natural Language Processing
Crowdfunding
Investor sentiment
Media
title_short Tone of mass media news affect pledge amounts in reward crowdfunding campaign
title_full Tone of mass media news affect pledge amounts in reward crowdfunding campaign
title_fullStr Tone of mass media news affect pledge amounts in reward crowdfunding campaign
title_full_unstemmed Tone of mass media news affect pledge amounts in reward crowdfunding campaign
title_sort Tone of mass media news affect pledge amounts in reward crowdfunding campaign
author Mendes-da-Silva, Wesley
author_facet Mendes-da-Silva, Wesley
Felipe, Israel José dos Santos
Leal, Cristiana Cerqueira
Aguiar, Marcelo Otone
author_role author
author2 Felipe, Israel José dos Santos
Leal, Cristiana Cerqueira
Aguiar, Marcelo Otone
author2_role author
author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Mendes-da-Silva, Wesley
Felipe, Israel José dos Santos
Leal, Cristiana Cerqueira
Aguiar, Marcelo Otone
dc.subject.por.fl_str_mv Natural Language Processing
Crowdfunding
Investor sentiment
Media
topic Natural Language Processing
Crowdfunding
Investor sentiment
Media
description We study whether the tone of the daily news in mass media, used as a proxy for market sentiment, affects the typical daily pledge amount in reward crowdfunding campaigns. Based on unique data from over 350,000 pledges in reward crowdfunding campaigns in over 2,600 cities in Brazil, we find that market sentiment affects the willingness of backers to make larger pledges. Our unprecedented results reveal that good news induces pledges of larger amounts. The effect of tone over pledge amounts is inhibited by the geographic distance backer-entrepreneur, and it is reinforced by the income inequality in the pledger’s city.
publishDate 2022
dc.date.none.fl_str_mv 2022
2022-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://hdl.handle.net/1822/75887
url https://hdl.handle.net/1822/75887
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://nipe.eeg.uminho.pt/publicacoes-nipe/#documentos-de-trabalho
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
instacron:RCAAP
instname_str Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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reponame_str Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
collection Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)
repository.name.fl_str_mv Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação
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