群眾募資近幾年已經成為創業者募集資金的重要方法之一，其中回饋型群眾募資在這兩三年受到大眾的矚目進而飛快成長，也吸引了眾多學術研究者紛紛投入進行相關研究，但大部分的研究皆著重在專案的募資階段，鮮少研究重視募資完到發貨的這段期間所發生的事情，根據我們發現最近有愈來愈多的群眾募資專案發生了延遲發貨的問題。回饋型群眾募資近似於傳統電子商務平台的產品預購模式，所以往往在延遲發貨的情況發生時，贊助者所產生的負面情緒與反應可能會進一步產生退費的意圖。群眾募資平台與專案發起人都花了很大的心力在利用規則來區別其與預購模式不同的地方，即便如此，學術界與實務界都忽略了贊助者與專案發起人之間的心理契約。因此，我們希望發展一個比較全面的架構來探討當發貨延遲發生時贊助者是如何產生心理契約違反的，另外也探索哪些因素會提高或降低贊助者心理契約違反的產生。本研究收集308位目前參與投資的群募專案有延遲發貨狀況的贊助者，採實證研究，研究結果皆符合原本的研究假說，並且發現專案發起人的聲譽與能力、回應速度等會降低心理契約違法；相反地，我們也發現專案的複雜程度、群眾募資規則與義務的不明確、投資金額大小以及延遲時間長短皆會增加心理契約違反的可能，最後我們也探討了贊助者對於自身角色認知的調節效果，發現若贊助者認為自己是一名純粹贊助支持的人時，當他們感受到心理契約違反的時候，比較不會有覺得被背叛與生氣的情緒出現。以上這些研究的結果，希望可以提供給學術界與實務界無論是在未來研究的延伸抑或是決策制定時有不一樣的看法。

One of type in crowdfunding, which is reward-based crowdfunding, has attracted lots of research effort. Despite rich literature on the fundraising phase of crowdfunding projects, only few studies focused on the reward delivery phase. Delay delivery emerge over the reward delivery phase and become the most problem issue. Since reward-based crowdfunding is very similar to pre-ordering a product from traditional e-commerce marketplace, the negative affective response could be transformed into a behavioral intention to refund. Therefore, we would develop a comprehensive framework to explore how backers’ psychological contract breach when backers experience delays of reward delivery. The proposed model is validated using empirical data collected from 308 crowdfunding backers. The result show that all characteristics inherent in crowdfunding have effects on backers’ PCB. Moreover, our result also show that role identity of backer plays moderating roles between psychological contract breach and feeling of violation. Our findings can provide academic and practical implication for the future study.

論文審定書 i
摘要 ii
Abstract iii
Table of Contents iv
Chapter 1 Introduction 1
1.1 Research background 1
1.2 Research motivation and questions 3
Chapter 2 Literature review 8
2.1 Crowdfunding 8
2.1.1 What is the crowdfunding? 8
2.1.2 Literature on reward-based crowdfunding 9
2.1.3 Delaying delivery and non-delivery in crowdfunding projects 13
2.2 Psychological contract breach 15
2.2.1 Psychological contracts, breach and violation 15
Chapter 3 Research model and hypothesis 18
3.1 The causes of backers’ PCB on crowdfunding 18
3.2 Research model and hypothesis development 21
3.2.1 Intention toward refund: from violation to intention 21
3.2.2 Violation: from perception of contract breach to affective state 22
3.2.3 Reneging 23
3.2.4 Incongruence 25
3.2.5 Vigilance 27
3.2.6 Role identity of backer 28
Chapter 4 Research method 30
4.1 Subjects and measurement 30
4.2 Demographic 31
4.3 Constructs and Measurement 32
4.4 Data analysis 34
4.4.1 Non-response bias 34
4.4.2 Reliability and Validity 35
4.4.3 Common method variance 40
4.5 Structural model 43
4.6 Discussion 44
Chapter 5 Conclusion and implication 49
5.1. conclusion 49
5.2. Practical implications 50
5.3. Academic implications 53
Reference 55
Appendix 63

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