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Archive » February 2025 » Visual attention, financial self-efficacy and equity crowdfunding campaigns: a neurofinance analysis

Visual attention, financial self-efficacy and equity crowdfunding campaigns: a neurofinance analysis

Marco Barone, Candida Bussoli
February 2025 - n. 2
Keywords: Neurofinanza, equity crowdfunding, autoefficacia finanziaria
Jel codes: D87, G23, M20

This study analyzes the impact of financial self-efficacy – a personality trait related to an individual's confidence in their ability to achieve financial goals – on visual attention directed toward two categories of information, hard and soft, in the context of equity crowdfunding campaigns presented on online platforms. The study also investigates the effect of financial self-efficacy on the perceived attractiveness of these campaigns. Using data collected through online eye-tracking from a sample of 147 U.S. participants exposed to descriptions of real campaigns, the findings reveal that higher financial self-efficacy is associated with an overall reduction in visual attention, particularly toward hard information. Additionally, an increase in financial self-efficacy leads to a decreased perception of campaign attractiveness.

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