20.500.12556/RUL-186083 When excitement fades mapping transitions in backers’ emotions during crowdfunding engagement This study examines how crowdfunding backers’ emotions evolve over the course of a campaign and why these emotional dynamics matter for funding outcomes. While prior research has focused on backers’ experiences at isolated moments, little is known about how emotions change from initial exposure to post-contribution engagement. Drawing on interviews with crowdfunding backers, we identify three distinct emotional phases: early excitement and curiosity, emotional connection at the point of contribution, and sustained engagement after funding. The findings point to a recursive, interpretive process in which earlier emotional experiences appear to shape how backers make sense of subsequent campaigns and entrepreneurial signals, with implications for their willingness to provide continued support. The study contributes by conceptualizing backers’ emotions as dynamic and evolving rather than static. For practitioners, the results highlight the importance of managing emotional signals throughout the entire campaign life cycle to foster trust, satisfaction, and long-term participation. start-up SMEs business efficiency crowdfunding backers' emotions emotional transitions qualitative study affective engagement signaling theory zagonsko podjetje majhna in srednja podjetja uspešnost poslovanja true false true Angleški jezik Slovenski jezik Članek v reviji 2026-08-26 15:14:59 2026-08-26 15:47:17 2026-08-28 03:43:38 0000-00-00 00:00:00 2026 0 0 [in press] 2026 0000-00-00 Zaloznikova VTisku NiDoloceno 0000-00-00 0000-00-00 0000-00-00 658 2643-7015 10.1080/26437015.2026.2701794 288499203 When_excitement_fades__Mapping_transitions_in_backers__emotions_during_crowdfunding_engagement.pdf When_excitement_fades__Mapping_transitions_in_backers__emotions_during_crowdfunding_engagement.pdf 1 E8D9EE7410E53007EC41B71F96659D34 7e2e9d13c0c7351060fc580ec8e6960a6c07d5416dd2d2378b6cec8a781555e5 f90ac5b9-a14f-11f1-9b0d-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=245152 https://www.tandfonline.com/doi/epdf/10.1080/26437015.2026.2701794?needAccess=true 0 fcbab04f-a14f-11f1-9b0d-0050569b8976 https://repozitorij.uni-lj.si/Dokument.php?lang=slv&id=245153 Ekonomska fakulteta 0 0 0