This chapter develops and tests a set of hypotheses concerning how the tone of entrepreneurial narratives affects funding success. The authors first test their propositions on a sample of projects seeking resources on a donation and reward-based crowdfunding platform (Ulule). Their results suggest that money providers on such a platform prefer narratives characterized by a relatively high emotional language. Results also indicate that the community (social) sense displayed has a particularly high influence and even dominates the influence of the emotional tone. The authors also examine the influence of the same variables on a lending- and equity-based platforms (MyMicroInvest). The results indicate that funding success is enhanced by a cognitive tone and that the sense of community stays an indicator of success. Backers on donation- and reward-based platforms seem to be motivated by the emotional dimension while funders on lending- and equity-based platform seem to be guided by cognitive considerations.
Amélie Wuillaume, Amélie Jacquemin and Frank Janssen
Amélie Jacquemin and Frank Janssen
This chapter investigates to what extent the legal environment might have a positive impact on entrepreneurship. Using a research design combining quantitative and qualitative approaches, the authors aim at understanding who the entrepreneurs are who positively use regulation as a source of business opportunity, and how they succeed in this. Not all entrepreneurs use regulation as a source of opportunity, and those who do use two approaches, which the authors call ‘Kirznerian’ and ‘Schumpeterian’ approaches.