Islamic Crowdfunding and Social Entrepreneurship: The Effect of Organizational Orientation Rhetoric on Crowdfunding Success

Crowdfunding campaign narratives function as signalling tools for social entrepreneurs, conveying organisational values to potential backers. In this study, we analyse 18,420 campaigns from 128 countries on the Islamic donation-based crowdfunding platform, Launchgood (2013-2020) through signalling theory. Our findings show that rhetoric emphasising altruistic, stakeholder and market orientations significantly influences Islamic crowdfunding success. These effects vary based on a country's level of economic freedom, being more pronounced in nations with better government integrity, financial freedom and judicial effectiveness and diminished in those with higher government intervention. These insights guide entrepreneurs in strategically promoting projects through effective signalling rhetoric.