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Development Of Crowdfunding Literature: A Review Study

Author

Listed:
  • Ivana Nincevic Pasalic

    (University of Split, Faculty of Economics, Business and Tourism)

  • Sandra Pepur

    (University of Split, Faculty of Economics, Business and Tourism)

Abstract

Crowdfunding (CF) is an example of the digital transformation in financial intermediation, as it means funding projects by raising money from a large number of people online. To understand the existing knowledge and future prospects of crowdfunding, this review paper analyses bibliographic and textual data on CF using scientific mapping (using analysis of the most influential authors and publications) and text mining. The results obtained show four research directions, the first of which is the most comprehensive and relates to general research conceptualising CF within different frameworks. The second research direction focuses on CF based on awards and donations, and uses available data to examine their interrelationships and impacts. The third and fourth research directions are significantly smaller, focusing on CF based on loans and relationships between investors and project promoters, and the fourth direction is underrepresented and focuses on equity CF and start-ups. The findings of this paper confirm the transdisciplinarity and fragmentation of the research field and show that research topics are in the modelling and implementation phase. The paper also provides guidelines for future CF research.

Suggested Citation

  • Ivana Nincevic Pasalic & Sandra Pepur, 2022. "Development Of Crowdfunding Literature: A Review Study," Economic Thought and Practice, Department of Economics and Business, University of Dubrovnik, vol. 31(1), pages 141-162, june.
    • Handle: RePEc:avo:emipdu:v:31:y:2022:i:1:p:141-162
    DOI: 10.17818/EMIP/2022/1.7
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    More about this item

    Keywords

    crowdfunding; citation analysis; data mining;
    All these keywords.

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship

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