크라우드 펀딩 콘텐츠의 언어적스타일과 사업지향성이 펀딩성공에 미치는 영향

The global crowdfunding industry has emerged as a crucial channel for entrepreneurs for fundraising and marketing. While research on the success factors of crowdfunding has been active, the combined effects of an entrepreneur's 'linguistic style' and 'business orientation' on performance have been relatively unexplored. Based on Language Expectancy Theory, this study analyzes data from 19,079 projects on Kickstarter, a leading crowdfunding platform, to explore the impact of entrepreneurs' linguistic styles on funding performance and to examine the moderating effect of business orientation (social orientation) in this relationship. The results of a multilevel regression analysis show that among the entrepreneur's linguistic styles, 'analytical style' and 'linguistic difficulty' have a positive effect on funding performance. In contrast, 'clout style' had a negative effect. Furthermore, the effects of these linguistic styles were found to vary depending on the level of the entrepreneur's social orientation, and an inverted U-shaped relationship was identified between social orientation and funding performance. The findings of this study provide significant theoretical and practical implications for developing communication strategies for crowdfunding success.