Influencing Mechanism Of Commitment And Satisfaction On The Willingness Of Continuous Investment

Crowdfunding is a new type of financing mode aimed at SMEs or emerging companies,which help raise funds from the public.Now,crowdfunding is in a state of raipd growth.With the development of the Internet,crowdfunding as a more and more popular means of financing,also provides a convenient platform for the SME projects.The success of the new approach to financing necessarily depends on the continued involvement of investors in investment.Therefore,this research will be conducted on the willingness of investors to continue investing from the perspective of crowdfunding investors and find ways and means to increase the willingness of crowdfunding investors to continue investing.Few studies currently analyze the motivation and willingness of investors to invest continuously in crowdfunding.Through the application of expectation confirmation model that combines with the commitment model,this research explores the impact of commitment and satisfaction on the investor's willingness to continue investing.At the same time,this paper puts expectancy confirmation and perceived value as the antecedent variables,to study the impact on commitment and satisfaction.Based on the above research,this paper constructs a research model of the influencing factors of the willingness of continuous investment of crowdfunding investors.The research uses the way of questionnaire survey to obtain the sample data of the study.At the same time,through the correlation analysis,factor analysis and other methods to verify the crowdfunding investors continued willingness to invest the impact of the research model and research hypothesis.Through the empirical analysis of the sample data,we found that perceived value has a positive impact on both affective commitment,continued commitment and satisfaction.And the expectation confirmation is significantly related to the continued commitment and investor satisfaction,but the relationship with the affective commitment is not significant.In addition,affective commitment,continued commitment and satisfaction all have a positive effect on the willingness to invest continuously.The conclusion of the research provides theoretical basis and management suggestion for the promotion of investors' willingness to continue investing in crowdfunding platform,which has certain theoretical and practical significance.Finally,the research further analyzes the limitations of this study,and puts forward the prospect of future research directions.