Bibliometric Analysis of Crowdfunding
Keywords:
bibliometric analysis, crowdfunding, finance, Scopus database, VOSviewerAbstract
Crowdfunding is a technique of raising money from many people or organizations to sponsor a new project. This article presents a bibliometric study on crowdfunding that was conducted using the VOSviewer 1.6.18 to assess worldwide research trends, especially publication growth, publishing outputs by country, themes of interest, and co-occurrences of author keywords. Bibliometric is new research that has grown into a well-established aspect of information research and a quantitative approach to document description. The Scopus database was used to obtain 839 papers published between 2011 and 2022. The statistics indicate an increasing trend in terms of publishing outputs. Most of the papers came from scholars in the United States, followed by Germany and the United Kingdom. The keyword “entrepreneurial finance” appears the most frequently in articles, followed by “equity crowdfunding”. A closer check into author keyword co-occurrences found that “entrepreneurial finance” had 165 links. It can be stated that the findings of the analysis could be used by future scholars to investigate under-researched areas of waqf crowdfunding.
References
Abdullah, A.-R., Rametse, N., Abdullah, S., Hassan, A., Naqib, M., & Yunoh, M. (2019). Mapping crowdfunding research on the web of science database: A bibliometric analysis approach. International Journal of Innovation, Creativity and Change. Www.ijicc.net 6(3). https://www.ijicc.net/images/Vol6Iss3/6301_Abdullah_2019_TD_R.pdf Agrawal, A., Catalini, C., & Goldfarb, A. (2014).
Some simple economics of crowdfunding. Innovation Policy and the Economy, 14, 63–97. https://doi.org/10.1086/674021 Aparicio, G., Iturralde, T., & Maseda, A. (2019).
Conceptual structure and perspectives on entrepreneurship education research: A bibliometric review. European Research on Management and Business Economics, 25(3), 105–113. https://doi.org/10.1016/j.iedeen.2019.04.003 Babich, V., Tsoukalas, G., & Marinesi, S. (2017).
Does crowdfunding benefit entrepreneurs and venture capital investors? SSRN Electronic Journal, 1–32. https://doi.org/10.2139/ssrn.2971685 Bhawika, G. W. (2017). Risiko dehumanisasi pada crowdfunding sebagai akses pendanaan berbasis teknologi di Indonesia. Jurnal Sosial Humaniora, 10(1), 47. https://doi.org/10.12962/j24433527.v10i1.2355 Crowdfunding. (2015).
In Oxford Online Dictionary. Retrieved June 7, 2022 from https://en.oxforddictionaries.com/definition/ crowdfunding. Donthu, N., Kumar, S., Mukherjee, D., Pandey, N., & Lim, W. M. (2021).
How to conduct a bibliometric analysis: An overview and guidelines. Journal of Business Research, 133, 285–296. https://doi.org/10.1016/j.jbusres.2021.04.070 Gerber, E. M., Hui, J. S., & Kuo, P. Y. (2012).
Crowdfunding: Why people are motivated to post and fund projects on crowdfunding platforms. In Proceedings of the international workshop on design, influence, and social technologies: techniques, impacts and ethics, Vol. 2, No. 11. Gil-Gomez, H., Oltra-Badenes, R., Guerola-Navarro, V., & Zegarra Saldaña, P. (2021).
Crowdfunding: a bibliometric analysis. International Entrepreneurship and Management Journal, 1-19. https://doi.org/10.1007/s11365-021-00784-0 Gleasure, R., & Feller, J. (2016).
Emerging technologies and the democratisation of financial services: A metatriangulation of crowdfunding research. Information and Organization, 26(4), 101–115. https://doi.org/10.1016/j.infoandorg.2016.09.001 Hemer, J. (2011). A snapshot on crowdfunding (No. R2/2011). Arbeitspapiere Unternehmen und Region. Hervé, F., & Schwienbacher, A. (2018).
Crowdfunding and Innovation. Journal of Economic Surveys, 32(5), 1–28. https://doi.org/10.1111/joes.12274 Hossain, M. & Oparaocha, G. (2017). Crowdfunding: Motives, definitions, typology and ethical challenges. Entrepreneurship Research Journal, 7(2), 20150045. https://doi.org/10.1515/erj-2015- 0045 Howe, J. (2006).
The rise of crowdsourcing. Wired magazine, 14(6), 1-4. Khan, A., Mohd Shafiai, M. H., & Khan, S. (2019). The Rise and fall of cash waqf crowdfunding: Exploring the shortcomings. International Journal of Innovation, Creativity and Change. Www.ijicc.net, 8(9). https://www.ijicc.net/images/vol8iss9/8906_Khan_2019_E_R.pdf Martínez-Climent, C., Zorio-Grima, A., & Ribeiro-Soriano, D. (2018).
Financial return crowdfunding: literature review and bibliometric analysis. International Entrepreneurship and Management Journal, 14(3), 527–553. https://doi.org/10.1007/s11365-018-0511-x Massolution. (2015). CF: The crowdfunding industry report 2015. Meteab, A. A. (2020).
Effect of continuous improvement of information technology applications on ecostumer behavior in social media. Webology, 17(1), 19–29. https://doi.org/10.14704/web/v17i1/a205 Milosavljevic, M., Joksimovic, N. Z., & Milanovic, N. (2019).
Blockchain accounting: Trailblazers’ response to a changing paradigm. Economics of Digital Transformation, 425441. Milanović, N., Milosavljević, M., Benković, S., Starčević, D., & Spasenić, Ž. (2020).
An acceptance approach for novel technologies in car insurance. Sustainability, 12(24), 10331. https://doi.org/10.3390/su122410331 Milosavljević, M., Milanović, N., Spasenić, Ž., & Benković, S. (2021).
Civic crowdfunding: Systematic literature review and future research agenda. E-Business Technologies Conference Proceedings, 1(1), 125–130. https://ebt.rs/journals/index.php/conf-proc/article/view/70 Mollick, E. (2014). The dynamics of crowdfunding: An exploratory study. Journal of Business Venturing, 29(1), 1–16. https://doi.org/10.1016/j.jbusvent.2013.06.005 Muh. Abdulloh Hafith, Hadi, A. A. A., & Arifin, A. A. (2021).
Crowdfunding coordinated money waqf savings as alternative to sharia cooperative financing. Budapest International Research and Critics Institute-Journal (BIRCI-Journal), 4(3), 5591–5601. https://doi.org/10.33258/birci.v4i3.2355 Nurhadi, W., & Irwansyah, I. (2018).
Crownfunding sebagai konstruksi sosial teknologi dan media baru. Jurnal Komunikasi Dan Kajian Media, 2(2), 1–12. https://doi.org/10.31002/jkkm.v2i2.769 Scaldaferri, P. (2018). Bibliometric analysis on crowdfunding research. https://webthesis.biblio.polito.it/8845/1/tesi.pdf Sidiq, Rd. S. S., Jalil, A., & Achmad W, R. W. (2021).
Virtual world solidarity: How social solidarity is built on the crowdfunding platform. Kitabisa.com. Webology, 18(1), 192–202. https://doi.org/10.14704/web/v18i1/web18083
Suhaili Alma’amun, Muhammad Hakimi Mohd Shafiai, Shahida Shahim, & Muhammad Syaukani Ahmad Adnan. (2018). Waqf-based Crowdfunding: A case study of waqfworld.org. International Journal of Islamic Economics and Finance, 1(1). https://islamicmarkets.com/publications/waqfbased-crowdfunding-a-case-study-of-waqfworld-org van Eck, N. J., & Waltman, L. (2014).
Visualizing Bibliometric Networks. In D. Wolfram (Ed.), Measuring Scholarly Impact (pp. 285–320). Springer, Cham. https://doi.org/10.1007/978-3-319- 10377-8_13 World Bank. (2013). Crowdfunding’s potential for the developing world. Finance and Private Sector Development Department, 1–102. Zhang, W., Zhu, Y.-C., & Wu, X.-L. (2018). A bibliometric analysis of crowdfunding related research. Proceedings of the 3rd International Conference on Crowd Science and Engineering - ICCSE’18. https://doi.org/10.1145/3265689.3265702
Downloads
Published
Issue
Section
License
Copyright (c) 2025 Nur Athirah Abd Rahman, Hasyeilla Abd Mutalib, Nurul Labanihuda Abdull Rahman
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
