This accessible text provides an insight into the growing global trend of crowdfunding as a source of entrepreneurial finance.
Table of contents
Preface
Acknowledgements
About the authors
Introduction
Definition of small and medium enterprises (SMEs)
Characteristics of successful entrepreneurs
Capital structure
The differences between small firms’ and large firms’ capital structure
Sources of entrepreneurial finance
Summary
Recommended reading
References
Introduction
Definition of crowdfunding
Features of crowdfunding
Evolution and development of crowdfunding
Types of crowdfunding
Crowdfunding platforms
Platform intermediaries
Characteristics of crowdfunding entrepreneurs
Benefits of crowdfunding
Summary
Recommended reading
References
Introduction
Pecking order and trade-off theories
Static trade-off versus pecking order in small firms
Crowdfunding and the firm’s life cycle
Types of entrepreneurship
Summary
Recommended reading
References
Introduction
Origin and background of Resource-Based Theory
The Resource-Based Theory
Types of resources
Assumptions of Resource-Based Theory
The characteristics of strategic resources
Evaluation of Resources
Assembling resources through Resource-Based Theory
Critiques of Resource-Based Theory
Linking resources with capabilities
Understanding resources exchanged in crowdfunding
The Resource Exchange Theory
Crowdfunding through the lens of Resource Exchange Theory
Crowdfunding: resources, capabilities and stakeholders
Stakeholder theory and crowdfunding
Crowdfunding: stakeholders analysis and involvement
Crowdfunding: the role of financiers
The characteristics of stakeholders and resource exchange process in crowdfunding
Summary
Recommended reading
References
Introduction
What is information asymmetry?
Advantages and disadvantages of information asymmetry
Information asymmetry in crowdfunding
Causes of information asymmetry
Strategies for reducing information asymmetry in crowdfunding
Summary
Recommended reading
References
Introduction
The concept of financial inclusion
Digital finance
Types of digital finance
The benefits of digital finance
FinTech
Digital technologies enable financial inclusion
FinTech trends
Summary
Recommended reading
References
Introduction
Empirical studies
The ten commandments of crowdfunding
Crowdfunding campaign timelines
The pitch
The role of effective communication
Summary
Recommended reading
References
Introduction
Challenges of crowdfunding
The problems of choosing the right crowdfunding platform
The problems of building up interest
Avoiding/minimizing crowdfunding minefields
Summary
Recommended reading
References
Introduction
Social relationship and networking in crowdfunding
The differences between social network theory and business network theory
Networking and equity crowdfunding
The network dynamics in crowdfunding
Relational benefits of networks in crowdfunding
Social media usage in crowdfunding
The interplay of social media messages and social ties
Social network dynamics in charitable crowdfunding
Social interaction in charitable crowdfunding
Summary
Recommended reading
References
Introduction
What is a niche market?
The catalysts for crowdfunding
The features of crowdfunding as a niche market
Crowdfunding: closing the finance gap for small firms as a niche market
Summary
Recommended reading
References
Introduction
Regulatory support of government
Review of the regulatory framework for crowdfunding
The need for harmonized EU regulation
The new EU legislative framework
JOBS vs. ECSPR
Other areas of government support
Blockchain technology in crowdfunding
Peer-to-peer crowdfunding for local governments
Summary
Recommended reading
References
Introduction
Case study 1
Case study 2
Case study 3
Case study 4
Summary
Recommended reading
References
Appendix: Links to Support Students
Ignatius Ekanem is Senior Lecturer in Business and Management at Middlesex University Business School, London. He is the author of Writing a Business Plan: A Practical Guide, also from Routledge.
Steve Ideh is a chartered accountant and certified management consultant with over 25 years’ experience in finance. He is an adjunct faculty member at several business schools and a regular speaker at entrepreneurship events.
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