IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i12p9411-d1168984.html
   My bibliography  Save this article

Exploring the Landscape of Social Entrepreneurship and Crowdfunding: A Bibliometric Analysis

Author

Listed:
  • Saurav Chandra Talukder

    (Doctoral School of Economic and Regional Sciences, Hungarian University of Agriculture and Life Sciences, Pater Karoly Street 1, 2100 Godollo, Hungary
    Department of Accounting and Information Systems, Jashore University of Science and Technology, Jashore 7408, Bangladesh)

  • Zoltán Lakner

    (Institute of Agricultural and Food Economics, Hungarian University of Agriculture and Life Sciences, Pater Karoly Street 1, 2100 Godollo, Hungary)

Abstract

The aim of this article is to identify, synthesize, and evaluate the existing research on the nexus of the SE–crowdfunding domain. The researchers used a variety of bibliometric tools, Biblioshiny, and VOSviewer, to examine the scholarly literature on SE and crowdfunding from 2013 through 2022. The data were gathered from the Web of Science and Scopus databases, and the researchers ultimately collected 105 documents for the analysis. As can be seen from the findings, there has been a steady increase in the number of articles published in SE crowdfunding throughout the past decade. The USA seems to be the main research region for SE–crowdfunding literature. Both of the most prolific writers, Maija Renkor and Aaron H. Anglin, are also from the USA. The results also show that the Journal of Business Venturing Insights ranks first for most productive sources, followed by Technological Forecasting and Social Change , Business Horizons , Sustainability , and the Academy of Entrepreneurship Journal . The temporal diagram of co-occurrence analysis indicates that performance, impact, altruism, motivation, and commercialization are emerging topics in the SE–crowdfunding research field. Moreover, the result of the co-citation analysis found four themes in the SE–crowdfunding domain. These include ‘crowdfunding for social entrepreneurship’, ‘impact investing in social enterprises’, ‘crowdfunding as an innovative way to fund social entrepreneurship’, and ‘social innovation and crowdfunding’. In addition, the article provides a helpful starting point for policymakers and practitioners involved in obtaining funds for SE through crowdfunding by considering the associated technological, administrative, and organizational consequences.

Suggested Citation

  • Saurav Chandra Talukder & Zoltán Lakner, 2023. "Exploring the Landscape of Social Entrepreneurship and Crowdfunding: A Bibliometric Analysis," Sustainability, MDPI, vol. 15(12), pages 1-22, June.
  • Handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9411-:d:1168984
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/12/9411/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/15/12/9411/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Bagheri, Afsaneh & Chitsazan, Hasti & Ebrahimi, Ashkan, 2019. "Crowdfunding motivations: A focus on donors' perspectives," Technological Forecasting and Social Change, Elsevier, vol. 146(C), pages 218-232.
    2. Nees Jan Eck & Ludo Waltman, 2017. "Citation-based clustering of publications using CitNetExplorer and VOSviewer," Scientometrics, Springer;Akadémiai Kiadó, vol. 111(2), pages 1053-1070, May.
    3. Jeppe Nicolaisen, 2010. "Bibliometrics and Citation Analysis: From the Science Citation Index to Cybermetrics," Journal of the American Society for Information Science and Technology, Association for Information Science & Technology, vol. 61(1), pages 205-207, January.
    4. Frank Martin Belz & Julia Katharina Binder, 2017. "Sustainable Entrepreneurship: A Convergent Process Model," Business Strategy and the Environment, Wiley Blackwell, vol. 26(1), pages 1-17, January.
    5. Forliano, Canio & De Bernardi, Paola & Yahiaoui, Dorra, 2021. "Entrepreneurial universities: A bibliometric analysis within the business and management domains," Technological Forecasting and Social Change, Elsevier, vol. 165(C).
    6. Donthu, Naveen & Kumar, Satish & Mukherjee, Debmalya & Pandey, Nitesh & Lim, Weng Marc, 2021. "How to conduct a bibliometric analysis: An overview and guidelines," Journal of Business Research, Elsevier, vol. 133(C), pages 285-296.
    7. Aria, Massimo & Cuccurullo, Corrado, 2017. "bibliometrix: An R-tool for comprehensive science mapping analysis," Journal of Informetrics, Elsevier, vol. 11(4), pages 959-975.
    8. M. M. Kessler, 1963. "Bibliographic coupling between scientific papers," American Documentation, Wiley Blackwell, vol. 14(1), pages 10-25, January.
    9. Veronica Crescenzo & Angelo Bonfanti & Paola Castellani & Alfonso Vargas-Sánchez, 2022. "Effective entrepreneurial narrative design in reward crowdfunding campaigns for social ventures," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 773-800, June.
    10. Laurell, Christofer & Sandström, Christian & Suseno, Yuliani, 2019. "Assessing the interplay between crowdfunding and sustainability in social media," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 117-127.
    11. Chandna, Vallari, 2022. "Social entrepreneurship and digital platforms: Crowdfunding in the sharing-economy era," Business Horizons, Elsevier, vol. 65(1), pages 21-31.
    12. Alessandro Fedele & Raffaele Miniaci, 2010. "Do Social Enterprises Finance Their Investments Differently from For-profit Firms? The Case of Social Residential Services in Italy," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 1(2), pages 174-189, October.
    13. Bi, Sheng & Liu, Zhiying & Usman, Khalid, 2017. "The influence of online information on investing decisions of reward-based crowdfunding," Journal of Business Research, Elsevier, vol. 71(C), pages 10-18.
    14. Alan Tomczak & Alexander Brem, 2013. "A conceptualized investment model of crowdfunding," Venture Capital, Taylor & Francis Journals, vol. 15(4), pages 335-359, October.
    15. Othmar M. Lehner & Alex Nicholls, 2014. "Social finance and crowdfunding for social enterprises: a public-private case study providing legitimacy and leverage," Venture Capital, Taylor & Francis Journals, vol. 16(3), pages 271-286, July.
    16. Moss, Todd W. & Renko, Maija & Block, Emily & Meyskens, Moriah, 2018. "Funding the story of hybrid ventures: Crowdfunder lending preferences and linguistic hybridity," Journal of Business Venturing, Elsevier, vol. 33(5), pages 643-659.
    17. Barbara Lougee & James Wallace, 2008. "The Corporate Social Responsibility (CSR) Trend," Journal of Applied Corporate Finance, Morgan Stanley, vol. 20(1), pages 96-108, December.
    18. Othmar M. Lehner, 2014. "The formation and interplay of social capital in crowdfunded social ventures," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 26(5-6), pages 478-499, August.
    19. Hermenegildo Gil-Gomez & Raul Oltra-Badenes & Vicente Guerola-Navarro & Pablo Zegarra Saldaña, 2023. "Crowdfunding: a bibliometric analysis," International Entrepreneurship and Management Journal, Springer, vol. 19(1), pages 27-45, March.
    20. Valentina Nikolova-Alexieva & Iordanka Alexieva & Katina Valeva & Mariana Petrova, 2022. "Model of the Factors Affecting the Eco-Innovation Activity of Bulgarian Industrial Enterprises," Risks, MDPI, vol. 10(9), pages 1-23, September.
    21. Kazem Mochkabadi & Christine K. Volkmann, 2020. "Equity crowdfunding: a systematic review of the literature," Small Business Economics, Springer, vol. 54(1), pages 75-118, January.
    22. Todd W. Moss & Donald O. Neubaum & Moriah Meyskens, 2015. "The Effect of Virtuous and Entrepreneurial Orientations on Microfinance Lending and Repayment: A Signaling Theory Perspective," Entrepreneurship Theory and Practice, , vol. 39(1), pages 27-52, January.
    23. Brown, Terrence E. & Boon, Edward & Pitt, Leyland F., 2017. "Seeking funding in order to sell: Crowdfunding as a marketing tool," Business Horizons, Elsevier, vol. 60(2), pages 189-195.
    24. Fedele , Alessandro & Miniaci, Raffaaele, 2010. "Do Social Enterprises Finance Their Investments Differently from For-proft Firms?," AICCON Working Papers 72-2010, Associazione Italiana per la Cultura della Cooperazione e del Non Profit.
    25. Henry Small, 1973. "Co‐citation in the scientific literature: A new measure of the relationship between two documents," Journal of the American Society for Information Science, Association for Information Science & Technology, vol. 24(4), pages 265-269, July.
    26. Nees Jan Eck & Ludo Waltman, 2010. "Software survey: VOSviewer, a computer program for bibliometric mapping," Scientometrics, Springer;Akadémiai Kiadó, vol. 84(2), pages 523-538, August.
    27. Pitschner, Stefan & Pitschner-Finn, Sebastian, 2014. "Non-profit differentials in crowd-based financing: Evidence from 50,000 campaigns," Economics Letters, Elsevier, vol. 123(3), pages 391-394.
    28. Corrado Cuccurullo & Massimo Aria & Fabrizia Sarto, 2016. "Foundations and trends in performance management. A twenty-five years bibliometric analysis in business and public administration domains," Scientometrics, Springer;Akadémiai Kiadó, vol. 108(2), pages 595-611, August.
    29. Angelo Presenza & Tindara Abbate & Fabrizio Cesaroni & Francesco Paolo Appio, 2019. "Enacting Social Crowdfunding Business Ecosystems: The case of the platform Meridonare," Post-Print halshs-02292357, HAL.
    30. Carla Martínez-Climent & Ana Zorio-Grima & Domingo Ribeiro-Soriano, 2018. "Financial return crowdfunding: literature review and bibliometric analysis," International Entrepreneurship and Management Journal, Springer, vol. 14(3), pages 527-553, September.
    31. Jeppe Nicolaisen, 2010. "Bibliometrics and Citation Analysis: From the Science Citation Index to Cybermetrics," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 61(1), pages 205-207, January.
    32. Parhankangas, Annaleena & Renko, Maija, 2017. "Linguistic style and crowdfunding success among social and commercial entrepreneurs," Journal of Business Venturing, Elsevier, vol. 32(2), pages 215-236.
    33. Nelarine Cornelius & Mathew Todres & Shaheena Janjuha-Jivraj & Adrian Woods & James Wallace, 2008. "Corporate Social Responsibility and the Social Enterprise," Journal of Business Ethics, Springer, vol. 81(2), pages 355-370, August.
    34. Paul Belleflamme & Thomas Lambert & Armin Schwienbacher, 2013. "Individual crowdfunding practices," Venture Capital, Taylor & Francis Journals, vol. 15(4), pages 313-333, October.
    35. Roland Strausz, 2017. "A Theory of Crowdfunding: A Mechanism Design Approach with Demand Uncertainty and Moral Hazard," American Economic Review, American Economic Association, vol. 107(6), pages 1430-1476, June.
    36. Peredo, Ana María & McLean, Murdith, 2006. "Social entrepreneurship: A critical review of the concept," Journal of World Business, Elsevier, vol. 41(1), pages 56-65, February.
    37. Short, Jeremy C. & Anglin, Aaron H., 2019. "Is leadership language ‘rewarded’ in crowdfunding? Replicating social entrepreneurship research in a rewards-based context," Journal of Business Venturing Insights, Elsevier, vol. 11(C), pages 1-1.
    38. Howard D. White & Belver C. Griffith, 1981. "Author cocitation: A literature measure of intellectual structure," Journal of the American Society for Information Science, Association for Information Science & Technology, vol. 32(3), pages 163-171, May.
    39. Farhoud, Mohamed & Shah, Sheeza & Stenholm, Pekka & Kibler, Ewald & Renko, Maija & Terjesen, Siri, 2021. "Social enterprise crowdfunding in an acute crisis," Journal of Business Venturing Insights, Elsevier, vol. 15(C).
    40. Alexa Böckel & Jacob Hörisch & Isabell Tenner, 2021. "A systematic literature review of crowdfunding and sustainability: highlighting what really matters," Management Review Quarterly, Springer, vol. 71(2), pages 433-453, April.
    41. Presenza, Angelo & Abbate, Tindara & Cesaroni, Fabrizio & Appio, Francesco Paolo, 2019. "Enacting Social Crowdfunding Business Ecosystems: The case of the platform Meridonare," Technological Forecasting and Social Change, Elsevier, vol. 143(C), pages 190-201.
    42. Andrea Rey-Martí & Antonia Mohedano-Suanes & Virginia Simón-Moya, 2019. "Crowdfunding and Social Entrepreneurship: Spotlight on Intermediaries," Sustainability, MDPI, vol. 11(4), pages 1-23, February.
    43. Silvio Vismara, 2016. "Equity retention and social network theory in equity crowdfunding," Small Business Economics, Springer, vol. 46(4), pages 579-590, April.
    44. Strausz, Roland, 2017. "A Theory of Crowdfunding," Rationality and Competition Discussion Paper Series 2, CRC TRR 190 Rationality and Competition.
    45. Alex Nicholls, 2010. "The Institutionalization of Social Investment: The Interplay of Investment Logics and Investor Rationalities," Journal of Social Entrepreneurship, Taylor & Francis Journals, vol. 1(1), pages 70-100, March.
    46. Carla Martínez-Climent & Ricardo Costa-Climent & Pejvak Oghazi, 2019. "Sustainable Financing through Crowdfunding," Sustainability, MDPI, vol. 11(3), pages 1-16, February.
    47. Paulami Mitra & Frank Janssen & Julie Hermans & Jill Kickul, 2022. "Social entrepreneurial crowdfunding: Influence of the type of rewards and of prosocial motivation on the crowds’ willingness to contribute," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 34(9-10), pages 1001-1024, October.
    48. Othmar M. Lehner, 2013. "Crowdfunding social ventures: a model and research agenda," Venture Capital, Taylor & Francis Journals, vol. 15(4), pages 289-311, October.
    49. Ubaldo Comite, 2018. "Crowdfunding as a Model and Financing Instrument in Social Enterprises," Eurasian Studies in Business and Economics, in: Mehmet Huseyin Bilgin & Hakan Danis & Ender Demir & Ugur Can (ed.), Consumer Behavior, Organizational Strategy and Financial Economics, pages 203-220, Springer.
    50. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Eduardo da Silva Fernandes & Inês Hexsel Grochau & Carla Schwengber Ten Caten, 2023. "Impact Investing: Determinants of External Financing of Social Enterprises in Brazil," Sustainability, MDPI, vol. 15(15), pages 1-21, August.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sven Siebeneicher & Ilker Yenice & Carolin Bock, 2022. "Financial-Return Crowdfunding for Energy and Sustainability in the German-Speaking Realm," Sustainability, MDPI, vol. 14(19), pages 1-23, September.
    2. Andrea Rey-Martí & Antonia Mohedano-Suanes & Virginia Simón-Moya, 2019. "Crowdfunding and Social Entrepreneurship: Spotlight on Intermediaries," Sustainability, MDPI, vol. 11(4), pages 1-23, February.
    3. Veronica Crescenzo & Angelo Bonfanti & Paola Castellani & Alfonso Vargas-Sánchez, 2022. "Effective entrepreneurial narrative design in reward crowdfunding campaigns for social ventures," International Entrepreneurship and Management Journal, Springer, vol. 18(2), pages 773-800, June.
    4. Messeni Petruzzelli, Antonio & Natalicchio, Angelo & Panniello, Umberto & Roma, Paolo, 2019. "Understanding the crowdfunding phenomenon and its implications for sustainability," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 138-148.
    5. Cai, Wanxiang & Polzin, Friedemann & Stam, Erik, 2021. "Crowdfunding and social capital: A systematic review using a dynamic perspective," Technological Forecasting and Social Change, Elsevier, vol. 162(C).
    6. Penz, R. Frederic & Hörisch, Jacob & Tenner, Isabell, 2022. "Investors in environmental ventures want good money—and a clean conscience: How framing, interest rates, and the environmental impact of crowdlending projects influence funding decisions," Technological Forecasting and Social Change, Elsevier, vol. 182(C).
    7. Fang, Xing, 2022. "Why we hide good deeds? The selfless and anonymous donation behavior in crowdfunding," Technology in Society, Elsevier, vol. 71(C).
    8. Tanja Jovanović, 2019. "Crowdfunding: What Do We Know So Far?," International Journal of Innovation and Technology Management (IJITM), World Scientific Publishing Co. Pte. Ltd., vol. 16(01), pages 1-25, February.
    9. Nguyen, Minh-Hoang & Huyen, Nguyen Thanh Thanh & Pham, Thanh-Hang & Yen, Nguyen Thi Quynh & Vuong, Quan-Hoang, 2020. "On the 50-year research landscape of entrepreneurial finance: A sign of Western ideological homogeneity?," OSF Preprints qf62s, Center for Open Science.
    10. Paola Bernardi & Alberto Bertello & Canio Forliano & Ludovico Bullini Orlandi, 2022. "Beyond the “ivory tower”. Comparing academic and non-academic knowledge on social entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 18(3), pages 999-1032, September.
    11. Han Jiang & Zhiyi Wang & Lusi Yang & Jia Shen & Jungpil Hahn, 2021. "How Rewarding Are Your Rewards? A Value-Based View of Crowdfunding Rewards and Crowdfunding Performance," Entrepreneurship Theory and Practice, , vol. 45(3), pages 562-599, May.
    12. Susana Bernardino & J. Freitas Santos, 2015. "Financing social ventures by crowdfunding: the influence of entrepreneurs’ personality traits," NIPE Working Papers 12/2015, NIPE - Universidade do Minho.
    13. Swati Gupta & Sahil Raj & Sanjay Gupta & Ajay Sharma, 2023. "Prioritising crowdfunding benefits: a fuzzy-AHP approach," Quality & Quantity: International Journal of Methodology, Springer, vol. 57(1), pages 379-403, February.
    14. Thomas Clauss & Thomas Niemand & Sascha Kraus & Patrick Schnetzer & Alexander Brem, 2019. "Increasing Crowdfunding Success Through Social Media: The Importance Of Reach And Utilisation In Reward-Based Crowdfunding," International Journal of Innovation Management (ijim), World Scientific Publishing Co. Pte. Ltd., vol. 24(03), pages 1-30, May.
    15. Butticè, Vincenzo & Colombo, Massimo G. & Fumagalli, Elena & Orsenigo, Carlotta, 2019. "Green oriented crowdfunding campaigns: Their characteristics and diffusion in different institutional settings," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 85-97.
    16. Carla Martínez-Climent & Ricardo Costa-Climent & Pejvak Oghazi, 2019. "Sustainable Financing through Crowdfunding," Sustainability, MDPI, vol. 11(3), pages 1-16, February.
    17. Laurell, Christofer & Sandström, Christian & Suseno, Yuliani, 2019. "Assessing the interplay between crowdfunding and sustainability in social media," Technological Forecasting and Social Change, Elsevier, vol. 141(C), pages 117-127.
    18. Hörisch, Jacob & Tenner, Isabell, 2020. "How environmental and social orientations influence the funding success of investment-based crowdfunding: The mediating role of the number of funders and the average funding amount," Technological Forecasting and Social Change, Elsevier, vol. 161(C).
    19. Stefano Cosma & Alessandro G. Grasso & Francesco Pagliacci & Alessia Pedrazzoli, 2018. "Is Equity Crowdfunding a Good Tool for Social Enterprises?," Centro Studi di Banca e Finanza (CEFIN) (Center for Studies in Banking and Finance) 18022, Universita di Modena e Reggio Emilia, Dipartimento di Economia "Marco Biagi".
    20. Francisca Jiménez-Jiménez & Maria Virtudes Alba-Fernández & Cristina Martínez-Gómez, 2021. "Attracting the Right Crowd under Asymmetric Information: A Game Theory Application to Rewards-Based Crowdfunding," Mathematics, MDPI, vol. 9(21), pages 1-23, October.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:12:p:9411-:d:1168984. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.