TY - GEN A1 - Urbig, Diemo A1 - Mochkabadi, Kazem T1 - Legitimizing non-innovative and radically innovative products and services on crowdfunding platforms T2 - 46th EBES Conference, Rome, Italy, January 10-12, 2024 : Program and Abstract Book N2 - Whether reward crowdfunding backers perceive a product or service as legitimate depends on many factors, including its innovativeness. However, studies offer conflicting results on how different levels of innovativeness influence perceived legitimacy. Some report that less innovative and only incrementally innovative products and services suffer from legitimacy challenges. Other research indicates that incrementally innovative products or services might be the most legitimate cases, at least as long as they are not receiving additional endorsements. Endorsements, such as strategic alliance partners, professional investors, or media coverage, may change whether or not lower levels of innovativeness threaten legitimacy in the eyes of the crowd. Using a vignette study approach with a sample of people experienced with crowdfunding investments, this study tests, first, how innovativeness affects legitimacy and, second, how external endorsements influence what level of innovativeness is most legitimate. The analyses reveal that without additional external endorsements, incrementally innovative products and services are most legitimate, while radically innovative ones just slightly outperform non-innovative ones. Results also reveal that threats to legitimacy posed by non-innovativeness and radical innovativeness can be buffered. However, not all three external endorsements display the same effects. Media coverage seems to help everyone, but it helps those who are already legitimate the most. The slightly negative effect of additional legitimacy through alliances and investors for incrementally innovative products is surprising but might be explained by redundant legitimacy. KW - Entrepreneurship KW - Crowdfunding KW - Legitimacy KW - Endorsements Y1 - 2024 UR - https://opus4.kobv.de/opus4-UBICO/frontdoor/index/index/docId/33045 SN - 978-605-71739-6-6 SP - S. 94 PB - EBES Publications ER -