Abstract:

This study aims to determine the role of social capital and reward factor in the success of crowdfunding project fundraising in the emerging market during the period of January 2017 until February 2019. Using secondary and cross-section data from Kickstarter.com, representing projects from Brazil, Russia, India, China, and South Africa, this research uses Ordinary Least Square as the method of data analysis for the hypothesis testing. Firstly, the results obtained from this study are social capital that is described by the numbers of comment posted by backers and crowdfunders and reward factor that is described by the customized reward have a positive effect and significant influence in the success of crowdfunding project fundraising in emerging market. Secondly, the ownership of facebook account as one of the social capital factor and ego and community reward as reward factor has no influence. Lastly, in terms of project features, it is evident that the target amount of crowdfunding project influences the success of crowdfunding project fundraising, whilst project duration has no influence on the success of crowdfunding project fundraising. Therefore, the result of this research will bring important influence to the contribution of crowdfunding literature in emerging market countries.