Chapter Synopsis:
Introduction
1. Introduction: Current Perspectives on Crowdfunding
The chapter will serve as an introduction to the concept of crowdfunding, its various manifestations, and a literature review into key themes in crowdfunding research 2010-2018.
Crowdfunding Theory and Practice
2. Crowdfunding Models and Strategies
The chapter will define the different models of crowdfunding, their unique characteristics, risk profiles, regulatory requirements, and user considerations. The chapter concludes with a novel
model capturing a series of heuristics for user decision making when choosing between models for fundraising or fund- providing/investment purposes.
3. Crowdfunding: A Historical Perspective
The chapter will review the historical development of concept of Crowdfunding with examples from different historical changes of its implementation until today. As such, it will highlight the
conceptual transformations and evolution it has went through until recent times.
4. The FinTech Industry: Crowdfunding in Context
The chapter aims to contextualize the emergence of crowdfunding platforms in the context of an evolving FinTech industry in general. It will present the market gaps left by existing financial institutions and their historical challenges that have paved the path
for the emergence of the new industry.
5. The Alternative Finance Maturity Model
The chapter will present a framework with 5 phases of growth of the alternative finance eco-system, from first platforms to full integration in financial eco-system and the role of industry players and governments to facilitate such growth.
6. The Global Status of Crowdfunding: Facts and Figures on Alternative Finance
The chapter will present key facts and figures as collected by the Cambridge Center for Alternative Finance in recent years. Based on a database spanning over 130 countries, trends and developments will be outlines at both regional and global levels.
7. Regulatory Issues and Challenges in
Crowdfunding Practice
The chapter will present key regulatory considerations, challenges and prospective solutions emerging in various countries to legal aspects of crowdfunding practice. This will be discussed with
concrete examples from selected national contexts as well as with reflection on implications for enablement or hindrance of cross- border crowdfunding transactions.
Crowdfunding Models
8. Equity Crowdfunding - Principles and
Investor Behavior
The chapter will review the unique aspects of the equity crowdfunding model and its manifestations in terms of investor characteristics, motivations and behavioral patterns. This will be
done based on insights from investors.
9. Lending Crowdfunding - Principles and Lender Behavior
The chapter will review the unique aspects of the lending crowdfunding model and its manifestations in terms of lender characteristics, motivations and behavioral patterns. This will be done based on insights from lenders.
10. Reward Crowdfunding - Principles and Backer Behavior
About the Author: Rotem Shneor is Associate Professor at the University of Agder's School of Business and Law, Norway. He also serves as the academic director of the university's Centre for Entrepreneurship and Social Innovation and heads its Crowdfunding Research Centre. His research interests focus on crowdfunding and entrepreneurship.
Liang Zhao is a postdoctoral researcher at the University of Agder's School of Business and Law. He is a research fellow at the China's Public Sector Economy Research Centre (CPSERC) and the China-Israel Entrepreneurship and Innovation Centre (CIEIC) at Jilin University, China. His research interests include innovation, entrepreneurship, and crowdfunding.
Bjørn-Tore Flåten is Associate Professor at the University of Agder School of Business and Law. He heads the school's department of management, as well as the university's Centre for Entrepreneurship and Social Innovation. His research interests revolve around strategic management of knowledge work and entrepreneurship, knowledge-sharing, and Internet-enabled collaboration.
