Antecedents and Consequences of Attitudes toward Donation-Based Crowd-Funding Platforms

Abstract

The landscape of fundraising has undergone a transformative shift with the rise in donation-based crowdfunding platforms. This study investigates the multifaceted factors shaping individuals’ attitudes toward these platforms, with a focus on key antecedents. Examining their impact on donation intentions and electronic word-of-mouth intentions, this research draws from a sample of 326 college students. Our results affirm the critical roles of perceived usefulness, ease of use, credibility, and self-efficacy in influencing attitudes. Additionally, attitudes significantly contribute to both donation and electronic word-of-mouth intentions. Structural model modifications underscore the interdependence of these factors, enhancing the model fit. Our findings offer practical insights for platform administrators, campaign creators, and stakeholders engaged in online philanthropy, highlighting the importance of user-friendly designs, trust-building, and user confidence for successful crowdfunding campaigns.

1. Introduction

The relationship between donation-based crowdfunding platforms and digital sustainability involves the utilization of digital tools to encourage and support sustainable behaviors within the context of philanthropy and fundraising. Donation-based crowdfunding platforms, such as GoFundMe or Kickstarter, leverage digital technologies to create global reach. Users from around the world can access and contribute to causes, fostering a sense of global community engagement. The use of digital tools in crowdfunding contributes to the sustainability of philanthropic efforts by increasing awareness globally. Digital platforms enable campaigns to reach a broader audience, helping to garner support for various sustainable causes.

These platforms democratize philanthropy by providing individuals and organizations with a digital space to present their causes directly to potential donors. It empowers anyone to become a philanthropist, regardless of geographical location or financial status. The democratization of philanthropy aligns with the principles of sustainability, emphasizing inclusivity and equal access. Digital tools make it possible for diverse voices and causes, including those focused on environmental or social sustainability, to receive support. The proliferation of donation-based crowdfunding platforms has transformed the way individuals and organizations seek financial support for a multitude of endeavors, from creative projects to philanthropic causes.

The success of these crowdfunding campaigns hinges on the attitudes and intentions of both campaign creators and potential donors. This research delves into the intricate web of factors that shape individuals’ attitudes toward donation-based crowdfunding platforms, with a specific focus on the antecedents that influence these attitudes and their subsequent impact on donation intentions and electronic word-of-mouth intentions.

Key to this examination are the following antecedents: the perceived usefulness, perceived ease of use, and perceived credibility of the crowdfunding platform, and self-efficacy. Perceived usefulness reflects the extent to which potential users believe that a crowdfunding platform serves a valuable purpose in facilitating fundraising efforts. Perceived ease of use refers to the user’s perception of the platform’s simplicity and convenience in achieving their objectives. Perceived credibility is the trustworthiness and legitimacy attributed to the crowdfunding platform. Self-efficacy represents the individual’s confidence in their ability to navigate the platform and contribute effectively.

This study also explores the consequences of these attitudes, focusing on two primary dimensions: donation intention and word-of-mouth intention. Donation intention pertains to the individual’s inclination to contribute financially to a crowdfunding campaign. Word-of-mouth intention refers to the likelihood of the individual sharing information about the campaign with others, potentially encouraging more contributions.

Understanding the complex relationships between these antecedents and consequences is crucial for both researchers and practitioners in the context of donation-based crowdfunding platforms. It offers insights into the factors that drive individuals to engage with these platforms, the potential barriers that may hinder their involvement, and the subsequent impact on the success of crowdfunding campaigns and the platform’s overall popularity. In particular, this study uses perceived usefulness, perceived ease of use, and perceived credibility as antecedents based on their roles in influencing user behavior on online platforms. Derived from the Technology Acceptance Model (TAM), perceived usefulness and ease of use are key determinants of technology adoption. Users are more likely to engage with crowdfunding platforms they find beneficial and easy to navigate. Additionally, perceived credibility is crucial for trust-building, as users need to feel confident that the platform is secure and reliable before contributing to campaigns. Together, these factors shape positive attitudes and increase engagement.

In the subsequent sections of this research, we will explore each of these antecedents in detail, examining how they influence attitudes toward donation-based crowdfunding platforms. We will also investigate the mediating role of these attitudes in shaping both donation intentions and word-of-mouth intentions. By shedding light on these relationships, this study aims to contribute valuable insights to the growing body of research on crowdfunding and offer practical implications for platform administrators, campaign creators, and those engaged in online philanthropy and fundraising endeavors.

2. Theoretical Framework

2.1. Growth of Crowdfunding Platforms

In recent years, the proliferation of donation-based crowdfunding platforms has reshaped the fundraising landscape, providing diverse opportunities for individuals and organizations to access financial support for a wide array of ventures and causes [1]. These platforms, such as Kickstarter, GoFundMe, and Indiegogo, have witnessed exponential growth and have become integral components of the digital economy. Mollick [2] highlights the diverse nature of campaigns on crowdfunding platforms. He notes that these platforms cater to a wide spectrum of endeavors, from creative projects like independent films and video games to charitable campaigns aiming to alleviate medical expenses or support disaster relief efforts. The breadth of crowdfunding campaigns reflects the platforms’ versatility and their capacity to engage a broad and varied audience.

Crowdfunding platforms generally fall into four main categories: donation-based, reward-based, equity-based, and lending-based crowdfunding. On donation-based platforms, individuals contribute to causes that align with their values or social objectives, such as medical expenses, community projects, or disaster relief. This form of crowdfunding is typically driven by altruism and a sense of social responsibility, as contributors aim to help others without expecting anything in return. Psychological factors such as empathy, personal connection to the cause, and perceived impact play a major role in influencing behavior on these platforms.

In contrast, reward-based platforms like Kickstarter involve contributors receiving a non-monetary reward (such as a product or service) in exchange for their support. Here, the motivation is often benefit-oriented, as backers expect a return on their investment. The psychological drivers are more transactional, often linked to the perceived value of the reward, excitement for innovation, or the desire to be an early adopter. Equity- and lending-based crowdfunding involve financial investments with the expectation of a return. These platforms cater to individuals or groups seeking to raise funds for business ventures, where the goal is often financial profit rather than philanthropy. The psychological motivations here include financial gain, risk assessment, and trust in the entrepreneurial project.

Belleflamme, Lambert, and Schwienbacher [1] emphasize the growth of crowdfunding platforms as a significant development in the financial and entrepreneurial world. These platforms have democratized fundraising, enabling innovators, artists, philanthropists, and entrepreneurs to connect directly with potential supporters, eliminating many of the traditional barriers to financing. This democratization has facilitated access to capital for a broader range of projects, including artistic creations, tech startups, charitable initiatives, and personal causes.

The growth of crowdfunding platforms is not limited to a specific geographic region. These platforms have achieved global reach, enabling creators and campaigners to connect with supporters from around the world [3]. This globalization of crowdfunding extends the potential donor base, contributing to the platforms’ success and their role in facilitating cross-border collaborations.

Furthermore, the growth of crowdfunding has stimulated innovation in the financial sector, prompting regulatory and policy discussions regarding how to best accommodate and regulate this emerging form of fundraising [4]. The financial industry, as well as policymakers, have been compelled to adapt to the rapid expansion of crowdfunding, reflecting its impact on the broader economic landscape.

In sum, the growth of donation-based crowdfunding platforms is a prominent phenomenon in the contemporary financial and entrepreneurial landscape. The proliferation of these platforms has democratized fundraising, diversified the types of campaigns, transcended geographical boundaries, and prompted discussions about their regulatory framework and broader financial implications. This growth sets the stage for deeper exploration of the factors that influence attitudes toward donation-based crowdfunding platforms.

2.2. Antecedents: Perceived Usefulness, Perceived Ease of Use, and Perceived Credibility of Crowdfunding Platform, and Self-Efficacy

2.2.1. Perceived Usefulness

Perceived usefulness, a crucial factor in shaping individuals’ attitudes toward technology, plays a fundamental role in understanding their engagement with donation-based crowdfunding platforms. As introduced by Davis [5], perceived usefulness refers to the extent to which users believe that a technology or system will enhance their performance or help them achieve their goals. In the context of crowdfunding, this concept is vital in elucidating why individuals choose to utilize these platforms for fundraising purposes and how it influences their attitudes and behaviors. Perceived usefulness in the donation-based crowdfunding context refers to the extent to which individuals believe that using a crowdfunding platform will effectively enhance their ability to achieve their fundraising goals.

The Technology Acceptance Model (TAM), formulated by Davis [5], has been widely used to study technology adoption and usage. This model posits that perceived usefulness is a key determinant of users’ attitudes toward technology. When applied to crowdfunding platforms, perceived usefulness is the linchpin that influences whether users find these platforms beneficial for their fundraising needs [5].

Research into crowdfunding has consistently highlighted the importance of perceived usefulness in users’ decisions to adopt these platforms. Studies have shown that individuals are more likely to use crowdfunding platforms when they perceive them to be useful for raising funds for their creative projects, entrepreneurial ventures, or charitable causes [3].

The influence of perceived usefulness on users’ attitudes toward crowdfunding platforms is notable. When individuals perceive these platforms to be valuable tools for reaching their fundraising objectives, it contributes to a more positive attitude. A positive attitude, in turn, can enhance their engagement with the platform and their willingness to support campaigns [1]. Based on the discussion above, the following hypothesis is proposed:

H1: 

Perceived usefulness has a positive impact on attitudes toward donation-based crowd-funding platforms.

2.2.2. Perceived Ease of Use

Perceived ease of use, a key component of the Technology Acceptance Model (TAM) introduced by Davis [5], is an important antecedent that significantly influences individuals’ attitudes and behaviors toward donation-based crowdfunding platforms. This concept relates to users’ perceptions of how user-friendly, straightforward, and convenient a technology or system is to utilize. In the context of crowdfunding platforms, perceived ease of use plays a pivotal role in determining users’ willingness to engage with these platforms and ultimately impacts their attitudes, donation intentions, and word-of-mouth intentions. Perceived ease of use in the donation-based crowdfunding context refers to the extent to which individuals believe that using a crowdfunding platform is user-friendly, straightforward, and convenient.

The Technology Acceptance Model (TAM) is a widely recognized framework for understanding technology adoption and usage. Perceived ease of use is one of its fundamental components. According to the TAM, if individuals find a technology or system easy to use, they are more likely to adopt it [5]. When applied to crowdfunding platforms, perceived ease of use is a critical factor that influences users’ decisions to engage with these platforms.

Research on crowdfunding platforms has repeatedly emphasized the significance of user-friendly design and ease of navigation. Platforms that are perceived as easy to use tend to attract a broader user base [3]. A user-friendly design ensures that users can quickly and efficiently create campaigns, contribute to projects, and interact with the platform, which, in turn, fosters a more positive attitude.

Perceived ease of use has a direct impact on users’ attitudes toward crowdfunding platforms. When individuals find the platform convenient and straightforward, they are more likely to hold positive attitudes. This positive attitude can enhance their engagement with the platform and their willingness to support campaigns [1]. Thus, the following hypothesis is put forth:

H2: 

Perceived ease of use has a positive impact on attitudes toward donation-based crowd-funding platforms.

2.2.3. Perceived Credibility of Crowdfunding Platform

The perceived credibility of a crowdfunding platform is a critical antecedent that profoundly influences individuals’ attitudes and behaviors in the context of donation-based crowdfunding. The perception of credibility is an essential element in determining whether users trust the platform to safeguard their contributions and whether they consider it a reliable channel for supporting campaigns. Perceived credibility in the donation-based crowdfunding context refers to the degree to which individuals believe that a crowdfunding platform is trustworthy, reliable, and capable of safeguarding their contributions. This literature review explores the role of perceived credibility and its impact on attitudes, donation intentions, and word-of-mouth intentions within the context of crowdfunding.

Perceived credibility is a well-established concept in online environments. Flanagin and Metzger [6] have conducted extensive research on credibility in online contexts and emphasized its significance in shaping user behavior. In the context of crowdfunding, the perceived credibility of the platform is essential, as it influences users’ trust in the platform’s legitimacy and security.

Trust is a central factor in determining the success of crowdfunding campaigns [7]. Trust in the credibility of the platform is a vital component of this trust. When potential donors perceive the platform to be trustworthy and credible, they are more likely to contribute to campaigns, as they believe their contributions will be handled securely and transparently. Therefore, the discussion above leads to the following hypothesis:

H3: 

The perceived credibility of crowdfunding platforms has a positive impact on attitudes toward donation-based crowd-funding platforms.

2.2.4. Perceived Self-Efficacy

Self-efficacy, a key psychological concept introduced by Bandura [8], plays a crucial role in understanding individuals’ attitudes and behaviors toward donation-based crowdfunding platforms. Self-efficacy refers to an individual’s belief in their ability to perform specific tasks effectively. Perceived self-efficacy in the context of donation-based crowdfunding platforms refers to an individual’s belief in their own ability to effectively use the platform to achieve their fundraising or support goals. In the context of crowdfunding, self-efficacy is instrumental in shaping users’ confidence in their capacity to navigate the platform successfully and achieve their fundraising objectives.

This literature review explores the significance of self-efficacy and its influence on attitudes, donation intentions, and word-of-mouth intentions in the context of crowdfunding. Self-efficacy has been recognized as a critical factor in technology adoption and usage [9,10]. Individuals who possess higher levels of self-efficacy are more likely to be proactive in using new technologies and platforms. In the context of crowdfunding, self-efficacy can influence users’ willingness to engage with a platform effectively.

Self-efficacy plays a significant role in shaping users’ attitudes toward crowdfunding platforms. Users with higher self-efficacy are more likely to hold positive attitudes as they believe in their capability to use the platform successfully. A positive attitude, in turn, can enhance their engagement with the platform [1]. Hence, the following hypothesis is posited:

H4: 

Self-efficacy has a positive impact on attitudes toward donation-based crowd-funding platforms.

2.3. Consequences: Donation Intention and E-Word-of-Mouth Intention

2.3.1. Donation Intention

Donation intention, a crucial outcome of individuals’ attitudes toward donation-based crowdfunding platforms, is central to understanding how users’ attitudes and beliefs translate into concrete actions on these platforms. Attitudes, as per the Theory of Planned Behavior [1], play a pivotal role in shaping behavioral intentions, including donation intentions. When users hold a positive attitude toward a crowdfunding platform, they are more likely to express a willingness to donate to campaigns hosted on the platform. Research has consistently demonstrated the predictive power of attitudes on donation intentions [1].

Attitudes are strong predictors of donation intention. When users hold a positive attitude toward a crowdfunding platform and the campaigns featured on it, they are more likely to express a willingness to donate [1]. Positive attitudes are typically formed when users perceive the platform to be useful, easy to use, and credible. Thus, the following hypothesis is proposed:

H5: 

Attitudes toward donation-based crowd-funding platforms have a positive impact on donation intention.

2.3.2. E-Word-of-Mouth Intention

Electronic Word of Mouth (e-WOM) refers to all informal communications directed at consumers through Internet-based technology related to the usage or characteristics of particular goods and services, or their sellers [11]. It encompasses the electronic transmission of word-of-mouth communication, often in the form of text, images, videos, or other digital content, from one individual to another or among a broader online community.

Attitudes toward donation-based crowdfunding platforms have a profound influence on users’ word-of-mouth intentions. Attitudes toward crowdfunding platforms are instrumental in shaping word-of-mouth intentions. When users hold a positive attitude toward a platform, they are more likely to engage in word-of-mouth activities, such as sharing information about campaigns with their network. Positive attitudes significantly contribute to the likelihood of users becoming advocates for campaigns [2]. Consequently, donation intention may result in e-word-of-mouth-intention. Based on the discussion above, the following hypothesis is posited:

H6: 

Attitudes toward donation-based crowd-funding platforms have a positive impact on e-word-of-mouth intention.

H7: 

Donation intention has a positive impact on e-word-of-mouth-intention.

3. Method

3.1. Sample and Data Collection

For this study, college students are employed as a sample because they are a tech-savvy demographic that frequently interacts with digital platforms and social media, making them an ideal group to study engagement with online crowdfunding platforms. As young adults, they are also likely to be early adopters of new technologies, including emerging global platforms. Most important, college students in Korea are very familiar with donation-based crowdfunding platforms such as Kakao Together and Naver Happybeans. A total of 357 college students took a survey for this study in return for course credits. However, 31 students who did not complete the survey were deleted and 326 subjects were retained for further analyses. The largest portion of these participants were sophomores (49.7%, n =162), followed by seniors (29.4%, n = 96), freshmen (14.7%, n = 48), and juniors (6.1%, n = 20). The mean age of participants was 22 years old. Using Qualtrics, an online survey was created to collect data from the college students. Online survey invitation e-mails were sent out to the students. Then, only students who agreed to participate and provide consent were selected as participants. Afterwards, they were asked to click on the “Proceed” button to complete the survey.

3.2. Study Design

In this study, our primary focus is on donation-based crowdfunding platforms that are specifically designed for charitable fundraising. For this study, the questionnaire was translated from English to Korean using the back-translation method, which is a widely recognized procedure to ensure the accuracy of translated materials. First, a bilingual researcher (fluent in both English and Korean) translated the original English questionnaire into Korean. Then, another independent bilingual expert who was not involved in the initial translation back-translated the Korean version into English to check for consistency and to identify any discrepancies between the two versions. At the beginning of the survey, participants were given a clear and concise definition of crowdfunding platforms. This definition explained that crowdfunding platforms are online platforms where individuals can raise funds for various causes by gathering small contributions from a large number of people.

3.3. Measures

3.3.1. Perceived Usefulness

Perceived usefulness was measured using three items based on Pavlou’s study [12]. Perceived usefulness was measured on a 7-point scale anchored with “strongly disagree” and “strongly agree.” The three items included the following: (1) I evaluate donation-based crowdfunding platforms as useful; (2) I evaluate donation-based crowdfunding platforms service as practical; and (3) I evaluate donation-based crowdfunding platforms as functional. The reliability for this scale was 0.78.

3.3.2. Perceived Ease of Use

For measuring perceived ease of use, a 5-item scale was employed on a 7-point Likert scale, where 1 = “strongly disagree” and 7 = “strongly agree”, based on a study by Mohammadi [13]. The five items were as follows: (1) Donation-based crowdfunding platforms are easy to use; (2) Donation-based crowdfunding platforms are easy to access; (3) The structure and design of the interaction function of the donation-based crowdfunding platform is easy to understand; (4) It is convenient to donate to crowdfunding; (5) It is easy to use the crowdfunding platforms to donate. The reliability for this scale was 0.86.

3.3.3. Perceived Crowdfunding Platform Credibility

Perceived crowdfunding platform credibility was measured using four 7-point Likert items anchored by “strongly agree (7)”, “agree (6)”, “somewhat agree (5)”, “neither agree nor disagree (4)”, “somewhat disagree (3)”, “disagree (2)”, and “strongly disagree (1)”. The four items include the following: (1) The crowdfunding platform is trustworthy; (2) The crowdfunding platform is reliable; (3) The crowdfunding platform keeps promises; and (4) The crowdfunding platform has my best interests in mind [14]. The reliability for this scale was 0.89.

3.3.4. Perceived Self-Efficacy

To measure perceived self-efficacy on a scale of 1–7, where 7 meant “strongly agree” and 1 meant “strongly disagree” [15], subjects were asked four questions. The statements were as follows: “Donation-based crowdfunding platforms make me confident in my ability to support campaigns”; “Donation-based crowdfunding platforms make me have the expertise needed to contribute to campaigns”; “Donation-based crowdfunding platforms make me confident in my ability to navigate and use websites to obtain projects’ information”; and “Donation-based crowdfunding platforms make me confident in my ability to contribute to campaigns model”. In this study, the reliability was 0.84.

3.3.5. Attitudes Toward Donation-Based Crowdfunding Platforms

Attitudes toward donation-based crowdfunding platforms were measured on a 7-point scale anchored from 1 = “strongly disagree” to 7 = “strongly agree,” in response to three items which were developed by Davis [5]. The three items were as follows: (1) I would have positive feelings toward using donation-based crowdfunding platforms; (2) I think donation-based crowdfunding platforms would make my life more interesting; (3) It would be a good idea to make use of donation-based crowdfunding platforms. The reliability for this scale was 0.76.

3.3.6. Donation Intention

To measure donation intention on a scale of 1–7, where 7 meant “strongly agree” and 1 meant “strongly disagree” [16], subjects were asked five questions. The statements were as follows: “Given the chance, I intend to donate in crowdfunding”; “I intend to actively donate in crowdfunding”; “I expect to donate in crowdfunding in the future”; “I would use the donation-based crowdfunding platform to help others”; and “I am willing to make donations to good projects on the platform”. In this study, the reliability was 0.82.

3.3.7. E-Word-of-Mouth Intention

For measuring e-WOM intention, a 2-item scale was employed on a 7-point Likert scale, where 1 = “strongly disagree” and 7 = “strongly agree”, based on a study by Feng et al. [17]. The two items were as follows: (1) I intend to talk to others about donating to a crowdfunding project on social media and (2) I intend to talk to others about donating to a project on crowdfunding website. The reliability for this scale was 0.93.

4. Results

Table 1. Correlation metrics among measured variables.

(n = 326)	1	2	3	4	5	6	7
Perceived Usefulness (1)	1	.401 **	.274 **	.155 **	.485 **	.384 **	.198 **
Perceived Ease of Use (2)	.401 **	1	.250 **	.277 **	.420 **	.354 **	.109 **
Perceived Credibility of Crowd-funding Platform (3)	.274 **	.250 **	1	.408 **	.435	.419 **	.293
Perceived Self-Efficacy (4)	.155 **	.277 **	.408 **	1	.398 **	.488 **	.315 **
Attitude toward Donation-based Crowd-funding Platform (5)	.485 **	.420 **	.435 **	.398 **	1	.638 **	.464 **
Donation Intention (6)	.384 **	.354 **	.419 **	.488 **	.638 **	1	.463 **
E-Word-of-Mouth Intention (7)	.198 **	.109 **	.293 **	.315 **	.464	.463	1
No. of Items	5	5	4	4	3	5	2
Cronbach’s Alpha	.78	.86	.89	.84	.76	.82	.93
Mean	5.22	5.05	4.31	4.48	5.10	4.71	4.06
SD	.90	1.01	.95	.93	1.00	1.16	1/43

(** indicates p < .001).

shows the relationships among the perceived usefulness, perceived ease of use, and perceived credibility of crowd-funding platforms, perceived self-efficacy, attitudes toward donation-based crowd-funding platforms, donation intention, and e-word-of-mouth intention. The correlation results in Table 1 indicate significant relationships among the measured variables. To test the structural model concerning the relationships among the variables, we performed a path analysis via SPSS AMOS 21.0. As shown in

Table 2. Parameter estimates for causal paths: original model.

Hypotheses	Causal Paths	Standardized Parameter Estimates	Standard Error	t-Value
H1	Perceived Usefulness -> Attitude toward Donation-based Crowd-funding Platform	.358	.048	7.53 ***
H2	Perceived Ease of Use -> Attitude toward Donation-based Crowd-funding Platform	.179	.042	4.21 ***
H3	Perceived Credibility of Crowd-funding Platform -> Attitude toward Donation-based Crowd-funding Platform	.229	.045	5.05 ***
H4	Perceived Self-Efficacy -> Attitude toward Donation-based Crowd-funding Platform	.229	.046	4.95 ***
H5	Attitude toward Donation-based Crowd-funding Platform -> Donation Intention	.736	.055	13.50 ***
H6	Attitude toward Donation-based Crowd-funding -> E-Word-of-Mouth Intention	.402	.093	4.30 ***
H7	Donation Intention -> E-Word-of-Mouth Intention	.343	.076	4.51

Goodness-of-fit statistics x² = 15.90, df = 14, p < .001; GFI = .65; NFI = .66; CFI = .67; IFI = .68; RFI = .33; RMSEA = .214, *** p < .001.

, the overall fit indices for the model were not acceptable, revealing a weak fit of the model to the data (x² = 15.90, df = 14, p < 0.001; GFI = 0.65; NFI = 0.66; CFI = 0.67; IFI = 0.68; RFI = 0.33; RMSEA = 0.214). Figure 1 shows a hypothesized model of this study.

The goodness-of-fit statistics are as follows: x² = 15.90, df = 14, p < 0.001; GFI = 0.65; NFI = 0.66; CFI = 0.67; IFI = 0.68; RFI = 0.33; RMSEA = 0.214. A model is regarded acceptable if the normed fit index (NFI) and goodness-of-fit index (GFI) exceed 0.90 and the comparative fit index (CFI) exceeds 0.93, and when the RMS is less than 0.08 [18,19]. Thus, the original model was rejected and the modification indices were examined as a way of improving the model fit [20]. The modification indices showed that the model fit could be improved by adding covariance paths between the following: perceived usefulness and perceived self-efficacy; perceived ease of use and perceived self-efficacy; perceived credibility of crowd-funding platform and perceived self-efficacy; perceived usefulness and perceived credibility of crowd-funding platform; perceived ease of use and perceived credibility of crowd-funding platform; and perceived usefulness and perceived ease of use.

Therefore, these covariance paths are justifiable. After the model modification, the goodness-of-fit statistics demonstrated that the modified model provided a better fit (x² = 59.55, df = 8, p < 0.001; GFI = 0.94; NFI = 0.93; CFI = 0.94; IFI = 0.93; RFI = 0.69; RMSEA = 0.074). Figure 2 shows the modified model and Table 2 indicates the parameter estimates for the paths.

H1 posits that perceived usefulness has a positive impact on attitudes toward donation-based crowd-funding platforms. According to Anderson and Gerbing (1988), a t-value of greater than 2 for each coefficient indicates statistical significance. As shown in

Table 3. Parameter estimates for causal paths: modified model.

Hypotheses	Causal Paths	Standardized Parameter Estimates	Standard Error	t-Value
H1	Perceived Usefulness -> Attitude toward Donation-based Crowd-funding Platform	.358	.053	6.76 ***
H2	Perceived Ease of Use -> Attitude toward Donation-based Crowd-funding Platform	.179	.048	3.74 ***
H3	Perceived Credibility of Crowd-funding Platform -> Attitude toward Donation-based Crowd-funding Platform	.229	.051	4.47 ***
H4	Perceived Self-Efficacy -> Attitude toward Donation-based Crowd-funding Platform	.229	.052	4.43 ***
H5	Attitude toward Donation-based Crowd-funding Platform -> Donation Intention	.736	.049	14.94 ***
H6	Attitude toward Donation-based Crowd-funding Platform Mouth -> E-Word-of-Mouth Intention	.402	.088	4.58 ***
H7	Donation Intention -> E-Word-of-Mouth Intention	.343	.076	4.514 ***
	Perceived Usefulness <-> Perceived Self-Efficacy	.130	.047	2.75 **
	Perceived Ease of Use <-> Perceived Self-Efficacy	.260	.054	4.81 **
	Perceived Credibility of Crowd-funding Platform <-> Perceived Self-Efficacy	.360	.053	6.81 ***
	Perceived Usefulness <-> Perceived Credibility of Crowd-funding Platform	.235	.049	4.77 ***
	Perceived Ease of Use <-> Perceived Credibility of Crowd-funding	.240	.055	4.38 **
	Perceived Usefulness <-> Perceived Ease of Use	.365	.055	6.71 ***

Goodness-of-fit statistics x² = 59.55, df = 8, p < .001; GFI = .94; NFI = .93; CFI = .94; IFI = .93; RFI = .69; RMSEA = .074, p < .05, ** p < .01, *** p < .001.

, the study results show that perceived usefulness is positively related to attitudes toward donation-based crowd-funding platforms (t = 6.76, p > 0.001). H2 proposes that perceived ease of use is positively related to attitudes toward donation-based crowd-funding platforms. As expected, our study results show that perceived ease of use is positively related attitudes toward donation-based crowd-funding platforms (t = 3.74, p < 0.001).

H3 states that the perceived credibility of crowdfunding platforms has a positive impact on attitudes toward donation-based crowd-funding platforms. As shown in Table 3, the study results show that the perceived credibility of crowdfunding platforms is positively related to attitudes toward donation-based crowd-funding platforms (t = 4.47, p < 0.001). H4 posits that self-efficacy has a positive impact on attitudes toward donation-based crowd-funding platforms. As shown in Table 3, academic self-efficacy is positively related to attitudes toward donation-based crowd-funding platforms (t = 4.43, p < 0.001).

The goodness-of-fit statistics are as follows: x² = 59.55, df = 8, p < 0.001; GFI = 0.94; NFI = 0.93; CFI = 0.94; IFI = 0.93; RFI = 0.69; RMSEA = 0.074

H5 proposes that attitudes toward donation-based crowd-funding platforms have a positive impact on donation intention. As expected, our study results indicate that attitudes toward donation-based crowd-funding platforms are positively related to donation intention (t = 14.94, p < 0.001). H6 states that attitudes toward donation-based crowd-funding platforms have a positive impact on e-word-of-mouth intention. As shown in Table 3, our study results show that attitudes toward donation-based crowd-funding platforms are positively related to e-word-of-mouth intention (t = 4.58, p < 0.001). Lastly, H7 posits that donation intention has a positive impact on e-word-of-mouth intention. As shown in Table 3, donation intention is positively related to e-word-of-mouth-intention (t = 4.51, p < 0.001). In sum, H1, H2, H3, H4, H5, H6, and H7 are supported in this study.

Six additional paths were added in the modified model. As shown in Table 3, our study results indicate the following six items: (1) the perceived usefulness and perceived self-efficacy path coefficient is 0.13 with a t-value of 2.75 (p < 0.01); (2) the perceived ease of use and perceived self-efficacy path coefficient is 0.26 with a t-value of 4.81 (p < 0.001); (3) the perceived credibility of crowd-funding platforms and perceived self-efficacy path coefficient is 0.36 with a t-value of 6.81 (p < 0.001); (4) the perceived usefulness and perceived credibility of crowd-funding platforms path coefficient is 0.24 with a t-value of 4.77 (p < 0.001); (5) the perceived ease of use and perceived credibility of crowd-funding platforms path coefficient is 0.24 with a t-value of 4.38 (p < 0.001); and (6) the perceived usefulness and perceived ease of use path coefficient is 0.37 with a t-value of 6.71 (p < 0.001).

5. Conclusions

This study explores the factors influencing individuals’ attitudes toward donation-based crowdfunding platforms, focusing on antecedents such as perceived usefulness, perceived ease of use, perceived credibility, and self-efficacy. The study also examines the consequences of these attitudes, including donation intention and electronic word-of-mouth (e-WOM) intention. Our results indicate that perceived usefulness plays a pivotal role in shaping users’ attitudes toward adopting crowdfunding platforms, confirming prior research. Similarly, the Technology Acceptance Model (TAM) is supported, showing that perceived ease of use positively impacts attitudes, emphasizing the importance of user-friendly design in attracting and retaining users. Perceived credibility significantly affects attitudes, as trust in the platforms’ reliability encourages engagement. Furthermore, self-efficacy enhances users’ confidence in navigating the platforms, reinforcing the psychological aspect of user engagement.

The positive relationships between perceived usefulness, perceived ease of use, and attitudes toward crowdfunding platforms suggest that user-friendly designs are crucial for increasing engagement. Crowdfunding platforms should focus on intuitive navigation, clear information architecture, and accessibility to improve perceived ease of use and usefulness. Offering users straightforward tutorials or guidance on creating or donating to campaigns, along with highlighting the benefits of crowdfunding, can further enhance the platforms’ appeal [21,22,23,24,25,26,27,28].

This study highlights the critical role of perceived credibility in shaping users’ attitudes. Our study findings support previous research which suggests donation intention in donation-based crowdfunding is positively influenced by trust [29,30,31,32,33,34,35,36]. To build trust, platform administrators should emphasize transparency, such as clear communication about where donations are going and how they will be used. Implementing secure payment systems and showcasing the success stories of past campaigns can also reinforce the platforms’ reliability, encouraging users to both donate and share campaigns with their networks.

Perceived self-efficacy significantly impacts users’ confidence in navigating and contributing to campaigns, resulting in increased donation intention [37,38]. Platforms can enhance users’ self-efficacy by offering interactive features such as progress tracking, personalized recommendations, and opportunities for users to engage with campaign creators directly. Providing resources that empower users to take an active role in campaigns will foster a sense of competence, thereby increasing both donation intention and word-of-mouth activity. The positive relationship between attitudes and e-WOM intention underscores the role of users as advocates for campaigns. Campaign creators should incorporate social sharing tools that make it easy for users to spread the word about campaigns. Encouraging users to share personal stories related to their donations can help build a stronger community around the cause and potentially attract more donors. These practical implications can help platform administrators and campaign creators improve user engagement, trust, and advocacy, leading to the success of crowdfunding campaigns.

In terms of the limitations of this study, in this study, the sample consists primarily of college students, which limits the generalizability of the findings [39,40]. College students may differ from the broader population in terms of technological savviness, familiarity with digital platforms, and donation behaviors. Therefore, caution should be exercised when applying our results to other demographics. Future research could consider diverse demographics for a more comprehensive understanding of crowdfunding platform engagement.

This study focuses on college students in Korea, who are likely familiar with local crowdfunding platforms. Cultural factors that influence attitudes toward crowdfunding might vary across different regions or populations, potentially affecting the results. It would be interesting to investigate how cultural differences influence individuals’ perceptions of crowdfunding platforms by examining whether factors such as perceived usefulness, ease of use, credibility, and self-efficacy vary across different cultural contexts. Understanding cultural nuances can provide valuable insights for designing more culturally tailored crowdfunding campaigns and platforms.

In terms of practical implications, platform administrators and campaign creators should prioritize user-friendly designs, build trust, and enhance users’ confidence in navigating platforms. These strategies are crucial for fostering positive attitudes and increasing engagement. This study contributes valuable insights into the factors influencing individuals’ engagement with donation-based crowdfunding platforms. By understanding these antecedents and consequences, stakeholders can make informed decisions to enhance the success of campaigns and the overall popularity of crowdfunding platforms.

Three future research areas are suggested. First, it is important to examine the role of visual content in crowdfunding campaigns. We need to explore the impact of visual content (e.g., images, videos) on users’ attitudes and intentions toward crowdfunding campaigns by investigating how the quality, type, and presentation of visual elements within a crowdfunding campaign influence perceived usefulness, ease of use, and credibility. This research could provide practical guidelines for campaign creators to optimize visual content for greater engagement.

Second, it would be meaningful to delve into long-term engagement and retention on crowdfunding platforms. We need to examine the factors influencing the long-term engagement and retention of users on crowdfunding platforms by investigating whether positive initial experiences with perceived usefulness and ease of use contribute to sustained engagement over time. Additionally, it is also important to explore the role of ongoing communication, updates, and feedback mechanisms in maintaining user interest and participation in multiple crowdfunding campaigns.