ResultsSample profileAs shown in Ta

ResultsSample profileAs shown in Table 1, one-half of all responding subjectswere male (50.7%) and a third of all participantswere in the 30–39 years of age group (33.5%). Themajority of respondents attended a university and/orhad a university degree (65.3%), and more than ahalf of the sample were single (53.3%). A majority ofparticipants (68.5%) earned a monthly householdincome of KRW (Korean Won) 4.00 million and more(over US$ 1 was equivalent to KRW 1117), and hadfull-time jobs (77.4%). Nearly 40% of the sample hadexperienced in tourism crowdfunding since sevenmonths ago or longer and a majority of respondents(54.9%) invested KRW 100,000 or more in tourismcrowdfunding (see more details in Table 1).Measurement modelRegarding the measurement model, confirmatoryfactor analysis (CFA) was performed as shown inTable 2 (Stevens, 2009). One item each for extrinsicmotivation and perceived risk was shown to havefactor loadings less than 0.7 and thus, they were eliminated(Hair, Black, Babin, & Anderson, 2010). Theanalysis was applied to the remaining 28 items.Assessment of reliability, convergent, and discriminantvalidity was subsequently executed (Stevens, 2009). Asillustrated in Table 3, the composite reliability as wellas Cronbach’s α of each concept were larger than0.70, validating the reliability as well as satisfyinginternal consistency (Hair et al., 2010; Stevens, 2009).Furthermore, each concept’s average varianceextracted (AVE) was larger than 0.5 and each item’sfactor loading was larger than 0.7 (Hair et al., 2010),confirming convergent validity.