近年來群眾募資平台蓬勃發展，已成為新創專案獲取資金與市場驗證的重要管道，然其專案成功率仍面臨挑戰。過往研究多從信任與價值等角度探討贊助者動機，卻較少關注「錯失恐懼症」(FOMO) 此一重要社會心理因素的影響。因此，本研究旨在建構一個更全面的預測模型。
本研究以推敲可能性模型 (Elaboration Likelihood Model, ELM) 為理論基礎 ，探討中央路徑線索（經濟性激勵、資訊品質、實現可能性）與邊陲路徑線索（電子口碑參與、提案者聲譽、視覺設計）如何分別透過中介變數「認知價值」與「消費者信任」影響「贊助意圖」，並開創性地檢驗「錯失恐懼症」(FOMO) 的直接效果與調節效果。研究採網路問卷調查法，針對 234 名具備群眾募資平台使用經驗之消費者進行分析，並採用 SmartPLS 進行結構方程模型分析。研究結果顯示：
1. 雙路徑模型獲驗證：中央路徑三項線索皆顯著正向影響「認知價值」；邊陲路徑三項線索亦皆顯著正向影響「消費者信任」。
2. 中介效果顯著：「認知價值」與「消費者信任」對「贊助意圖」均有顯著正向影響。
3. FOMO 的直接影響力：「錯失恐懼症」對「贊助意圖」具有顯著的直接正向影響。
4. FOMO 的調節效果不顯著：然而，本研究發現「錯失恐懼症」並未在認知價值、消費者信任與贊助意圖的關係中扮演顯著的調節角色。
本研究不僅深化了 ELM 理論在群眾募資領域的應用，更首次實證了 FOMO 作為直接驅動力的重要性，並釐清其影響機制，據此提出相關學術與實務意涵。

While crowdfunding platforms have flourished as vital channels for new ventures to secure funding and validate markets, project success rates remain a significant challenge. Prior literature has predominantly examined backer motivations from the perspectives of trust and value but has scarcely addressed the influence of the important psychosocial factor, "Fear of Missing Out" (FOMO). Therefore, this study aims to construct a more comprehensive predictive model for funding intention.
Grounded in the Elaboration Likelihood Model (ELM), this study explores how central route cues (economic incentive, information quality, business viability) and peripheral route cues (e-WOM, proposer reputation, visual design) respectively influence funding intention through the mediating variables of perceived value and consumer trust. Furthermore, this research pioneeringly investigates the direct and moderating effects of FOMO. Employing an online survey, this research analyzed data from 234 consumers with prior crowdfunding experience using SmartPLS for structural equation modeling (SEM) analysis.
The results indicate that:
The dual-pathway model was validated: The three central route cues significantly and positively influence perceived value, while the three peripheral route cues significantly and positively influence consumer trust.
The mediating roles were confirmed: Both perceived value and consumer trust demonstrated a significant positive influence on funding intention.
FOMO exhibited a direct impact: Fear of Missing Out (FOMO) was found to have a significant direct positive effect on funding intention.
The moderating effect of FOMO was not supported: However, FOMO did not play a significant moderating role in the relationships between perceived value, consumer trust, and funding intention.
This study’s findings not only deepen the application of ELM theory in the crowdfunding domain but also pioneer the empirical validation of FOMO as a direct driver while clarifying its mechanism of influence. Based on these results, relevant academic and practical implications are proposed.

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