Cross-border crowdfunding: an attention-based view

Abstract This study develops an attention-based view of cross-border crowdfunding by examining how informational cues in campaign narratives guide backers’ attention and funding decisions. Crowdfunding enables global reach but intensifies competition for limited backer attention. Extending the attention-based view from managerial attention in organizational settings to crowd attention on digital platforms, we conceptualize crowd attention as decentralized and stimulus-driven. We identify two key informational cues as attention stimuli: global narrative (universal relevance) and backer-country focus (localized engagement). We argue that these cues increase support for international campaigns but that their effects depend on campaign characteristics such as cultural orientation and market readiness, which align with different backer motives. We further propose that cultural differences amplify, rather than hinder, backers’ responsiveness to attention stimuli. Using large-scale Kickstarter data, we find support for our arguments and demonstrate how digital narratives shape attention and funding decisions in cross-border exchanges.