(The) impact of voice trustworthiness on crowdfunding success: evidence from kickstarter

Abstract

Many entrepreneurs raise funds through crowdfunding platforms, but the success rate is relatively low. According to a previous study, pitch videos are one of the factors that influence crowdfunding success. Videos serve as important informational cues for investment, and investors use them to estimate the trustworthiness of the project due to information asymmetry. This study aims to analyze the influence of voice in crowdfunding pitch videos. We select voice characteristics, including pitch, intonation, loudness, and variability of loudness, for analysis. The results show a positive correlation between a trustworthy voice and fundraising amounts. Also, the analysis of individual voice characteristics reveals that pitch, loudness, and intonation are correlated with funding amounts. There is a tendency for speakers with lower voice, louder voice, and strong intonation to achieve relatively higher funding amounts.