Various forms of social learning and network effects are at work on crowdfunding platforms, giving rise to informational and payoff externalities. We use novel entrepreneur-backer data to study how these externalities shape funding dynamics, within and across projects. We find that backers...

Firms achieve their competitive advantage quickly through the concept framework of open innovation by integrating external inspiration with internal endowment when facing hyper-competition in the digital era. This paper deploys open innovation into building platform blocks by modular operators....

Social media has been increasingly integrated into firm operations. Past literature documented the operational value of the content generated by social media users but paid little attention to the users' incentives to generate and share content. We fill in the gap by linking a user's social...