Crowdfunding as a New Phenomenon: Origins, Features and Literature Review

Flavio Pichler and Ilaria Tezza
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Flavio Pichler: University of Verona
Ilaria Tezza: University of Verona

Chapter 2 in Crowdfunding for SMEs, 2016, pp 5-43 from Palgrave Macmillan

Abstract: Abstract Crowdfunding is a relatively new funding practice that is undergoing strong growth based on the predominance of such Web 2.0 technologies as social media in the past few years and the opening created by the credit squeeze that has continued since the global financial crisis that broke out in the summer of 2007. To gain an understanding of the role crowdfunding can play within the financial system, this chapter starts with its origins, highlights its main characteristics and draws attention to the associated risks and financial return crowdfunding in particular. Due to its novelty, literature on crowdfunding is quite scarce, but the chapter reviews the most important studies on success factors for crowdfunding campaigns and suggests paths for future research.

Keywords: Venture Capital; Investment Decision; Lower Interest Rate; Online Platform; Home Bias (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-56021-6_2

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DOI: 10.1057/978-1-137-56021-6_2

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