캠페인 개시 시점이 기부형 크라우드펀딩 성과에 미치는 효과

This research empirically examines the influence of campaign launch timing on donation-based crowdfunding performance. Although temporal factors play a crucial role in shaping individual judgment and decision-making, prior research has given limited attention to how the timing of a campaign launch influences donor behavior. To address this gap, the current research analyzes the relationship between campaign launch timing and crowdfunding performance using data from 5,983 campaigns conducted on Kakao Together, a leading donation-based crowdfunding platform in Korea, from 2014 to 2022. Crowdfunding performance was measured using total raised funds, number of donors, and goal achievement rate, while the key independent variables were early-year campaigns (January–March) and year-end campaigns (October–December). The results of multiple regression analyses using Generalized Least Squares (GLS) indicate that both early-year and year-end campaigns consistently outperformed mid-year campaigns (April–September) across all performance metrics. To ensure the robustness of these findings, this research further analyzed the effects of individual launch months and verified the U-shaped relationship between campaign launch month and crowdfunding performance. Our findings provide empirical evidence on the importance of campaign launch timing as a key determinant of crowdfunding success and identify a nonlinear performance pattern influenced by temporal factors. These findings suggest that campaign organizers should strategically consider optimal launch timing, while platform operators can enhance promotional and incentive strategies based on seasonal trends.