在當今科技不斷革新進步的時代，不論是網路技術、市場趨勢或是商業模式無不快速發展並影響著消費者們的行為。群眾募資這種新興的募資模式在2008年金融海嘯與Web 2.0網路應用逐漸成熟的背景之下逐漸地映入創業者的眼簾。當時，以Kickstarter為首的群眾募資平台崛起，顯示了市場上仍然有許多富有想法的團隊或是創業者需要更加多元的籌資管道。
而對於群眾募資等較為新穎的募資方式，贊助者的信任與感知風險在其中就顯得格外重要。據先前研究表示，信任被作為前在贊助者評估專案提案者或專案內容的一項重要指標；而感知風險也被認為是消費者在進行決策時，影響其行為的重要因素。本研究將以基於信任的消費者決策模型為基礎，並加入功利性價值、享樂性價值、社會性價值觀點後提出一個以回報式群眾募資為背景之假說模型，試圖以人的角度探討回報式群眾募資中，對信任與感知風險會產生影響的因素，並進而了解其是否將會影響贊助意圖。
本研究使用了三個相同且獨立的結構方程模型用於對比不同情境下的模型結果，結果發現，信任對專案贊助意圖具有正面影響，且能夠在享樂型與社會型募資情境下，起到降低感知風險的作用；功利型專案情境下，專案資訊品質較能有效降低贊助者之感知風險，同樣地，在功利型情境下聲譽也較能有效提升贊助者的信任；對信任影響之研究中，資訊品質、聲譽、熟悉度在三種情境下皆對信任具有正向影響。
本研究的結果提供了實務建議，可以幫助回報式群眾募資專案的提案者更好地理解並應對贊助者的心理反應和需求，這有助於提高專案贊助者的參與和出資意願，並進一步提升專案的成功率和效益。

In this era of constant technological advancements, including internet technologies, market trends, and evolving business models, consumer behavior is significantly influenced. Crowdfunding, as an emerging fundraising model, caught the attention of entrepreneurs. Platforms like Kickstarter emerged, demonstrating the need for more diverse funding channels for innovative teams and entrepreneurs. For novel funding methods like crowdfunding, the trust and perceived risk of sponsors become crucial. Prior research has highlighted the importance of trust as a key factor for sponsors when evaluating project creators or project content. Perceived risk, on the other hand, is regarded as a significant determinant of consumer decision-making. This study aims to propose a hypothesis model based on a trust-based consumer decision-making framework, incorporating utilitarian value, hedonic value, and social value perspectives.

Three identical and independent structural equation models were employed in this study to compare the results under different scenarios. The findings indicate that trust has a positive influence on sponsorship intention and can reduce perceived risk in hedonic and social crowdfunding contexts. In the utilitarian crowdfunding context, project information quality effectively lowers the perceived risk of sponsors, and reputation significantly enhances trust. In all three scenarios, information quality, reputation, and familiarity positively influence trust.

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【硬塞科技字典】群眾募資總共分成哪四種類型？
https://www.inside.com.tw/article/6650-what-is-crowdfunding