Crowdfunding as a new collaborative process in the knowledge economy. A literature review
DOI | https://doi.org/10.1108/VJIKMS-12-2018-0118 |
Pages | 241-255 |
Date | 13 May 2019 |
Published date | 13 May 2019 |
Author | Paola Paoloni,Niccolò Paoloni,Giuseppe Modaffari |
Subject Matter | Information & knowledge management,Knowledge management,Knowledge management systems |
Crowdfunding as a new
collaborative process in the
knowledge economy
A literature review
Paola Paoloni
Facolta di Economia, Universita degli Studi di Roma La Sapienza,
Roma, Lazio, Italy
Niccolò Paoloni
Università degli Studi Roma Tre, Rome, Italy, and
Giuseppe Modaffari
Universita degli Studi Niccolo Cusano, Roma, Italy
Abstract
Purpose –The transitionfrom industrial to social economy and fromknowledge produces a paradigm shift,
which is the space in which new professions, new values and even new formsof financing are shaped. The
purpose of this paper is to analyze the phenomenonof crowdfunding, and the specific focus is the small- and
medium-sized enterprises’(SMEs’) dimension, typical in startups firms. This work discusses the main
thematic areas in the scientific literature on the phenomenon of crowdfunding (RQ1) and how is
crowdfundingtreated in SMEs’dimension (RQ2).
Design/methodology/approach –To analyze the literature, thisstudy uses structure literature review
methodology. To answer RQ1, the articles in the SCOPUS database on the theme of crowdfunding were
surveyed. To RQ2, the analysisfocused on the combined theme between the crowdfunding phenomenon and
the SMEs’dimension.
Findings –The study shows that from the scientific point of view, the treatment of the crowdfunding
phenomenon is strongly developing in many research areas. The most recurrent are those that deal with studies
linked to socio-geographical and institutional contexts and those that analyze individual behavior of investors
and crowd funders. Residual area remains the one dedicated to SMEs, where this research has led to poor results.
Originality/value –This paper implements the studies on crowdfunding, a phenomenon that is rapidly
expanding worldwide. Particularattention is paid to startup firms, and the business dimension was studied
for SMEs, for which it was initially conceivedand investigated. Future work will try to apply the results of
this researchinto a case study about an Italian startup firm.
Keywords SME, Crowdfunding, Startups
Paper type Research paper
1. Introduction
The transition from industrialto social economy and from knowledge produces a paradigm
shift, which the space in which new professions, new values and even new forms of
financing are shaped.
Crowdfunding, or collective funding, is a collaborative process of a group of people who
use their money, in common, to support the efforts of people and organizations. It is –as a
characteristicof the new phase in which we live –a bottom-up process.
Crowdfunding
in the
knowledge
economy
241
Received4 December 2018
Revised4 December 2018
Accepted15 January 2019
VINEJournal of Information and
KnowledgeManagement Systems
Vol.49 No. 2, 2019
pp. 241-255
© Emerald Publishing Limited
2059-5891
DOI 10.1108/VJIKMS-12-2018-0118
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