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Abstract From the theory of value co-creation , we use the structural equation modeling approach to verify the hypothesis that value co-creation has positive influence on satisfaction of the project supporters in crowd-funding,both participation behavior and citizenship behavior.The result shows that the role of the citizenship behavior on satisfaction is more significant than the participation behavior. Moreover, the demand characteristic of the supporters plays a moderating role on the relationship between value co-creation and satisfaction. It has been found that utilitarian needs has positive moderating effects on the relationship between value co-creation and outcome satisfaction, but the moderating effect of hedonism on the relationship between value co-creation and decision satisfaction is not significant.
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Received: 09 December 2015
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2016, Vol. 13 
