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The effect of facial expressions on crowdfunding performance
Journal of the Korean Data & Information Science Society 2021;32:883-92
Published online July 31, 2021;
© 2021 Korean Data and Information Science Society.

Jenny Jeongeun Yoo1 · Sangyoung Song2

12Business School, Hanyang University
Correspondence to: 1 Ph.D. student, Business School, Hanyang University, 222, Wangsimni-ro, Seongdong-gu, Seoul, Korea
2 Associate professor, Business School, Hanyang University, 222, Wangsimni-ro, Seongdong-gu, Seoul, Korea. E-mail:
Received May 5, 2021; Revised June 5, 2021; Accepted June 25, 2021.
This is an Open Access article distributed under the terms of the Creative Commons Attribution Non-Commercial License ( which permits unrestricted non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.
We analyze how the facial expressions of people participating in loan-based crowd-funding affect their funding performance. Previously, researchers who studied facial expressions had to rely on a small number of pictures because coding pictures required human input, which is costly. In this study, we utilize Google cloud vision API which allows us to detect the facial expressions from the large number of pictures. We examine the effects of people's facial expressions (i.e., joy, sorrow, anger, and surprise) on funding success. The results show that joy and sorrow are significantly correlated with funding success, with the latter exerting greater impact than the former.
Keywords : Crowdfunding, facial expressions, google cloud vision.