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Crowdfunding: principles, trends and issues

Author

Listed:
  • Stéphane Onnee

    (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours)

  • Sophie Renault

    (VALLOREM - Val de Loire Recherche en Management - UO - Université d'Orléans - UT - Université de Tours)

Abstract

This chapter reports on the crowdfunding phenomenon and expounds its principles, trends and issues. Based on analyses of primary and secondary French data, we illustrate and discuss the recent academic literature on crowdfunding. We stress the relationships between crowdfunding and crowdsourcing. The advantages and disadvantages of crowdfunding are also presented. We show that crowdfunding is an ecosystem still under construction. We rely on ‘multisided platform theory' to explain the strategies implemented by competing platforms and give some prescriptions to mobilize a crowd and to finance a project successfully.

Suggested Citation

  • Stéphane Onnee & Sophie Renault, 2015. "Crowdfunding: principles, trends and issues," Post-Print hal-01712731, HAL.
    • Handle: RePEc:hal:journl:hal-01712731
    DOI: 10.4337/9781784717766.00023
    Note: View the original document on HAL open archive server: https://hal.science/hal-01712731
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    References listed on IDEAS

    as
    1. Parker, Simon C., 2014. "Crowdfunding, cascades and informed investors," Economics Letters, Elsevier, vol. 125(3), pages 432-435.
    2. Mollick, Ethan, 2014. "The dynamics of crowdfunding: An exploratory study," Journal of Business Venturing, Elsevier, vol. 29(1), pages 1-16.
    3. Jean-Fabrice Lebraty, 2009. "Externalisation ouverte et pérennité. Une nouvelle étape de la vie des organisations," Revue française de gestion, Lavoisier, vol. 0(2), pages 151-165.
    4. Alan Tomczak & Alexander Brem, 2013. "A conceptualized investment model of crowdfunding," Venture Capital, Taylor & Francis Journals, vol. 15(4), pages 335-359, October.
    5. Jean-Fabrice Lebraty & Katia Lobre, 2013. "Crowdsourcing," Post-Print hal-00835281, HAL.
    6. BELLEFLAMME, Paul & LAMBERT, Thomas & SCHWIENBACHER, Armin, 2011. "Crowdfunding: tapping the right crowd," LIDAM Discussion Papers CORE 2011032, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    7. Jean‐Charles Rochet & Jean Tirole, 2006. "Two‐sided markets: a progress report," RAND Journal of Economics, RAND Corporation, vol. 37(3), pages 645-667, September.
    8. Hemer, Joachim, 2011. "A snapshot on crowdfunding," Working Papers "Firms and Region" R2/2011, Fraunhofer Institute for Systems and Innovation Research (ISI).
    9. Stéphane Onnee & Sophie Renault, 2013. "Le financement participatif : atouts, risques et conditions de succès," Post-Print hal-01712695, HAL.
    10. Ajay Agrawal & Christian Catalini & Avi Goldfarb, 2010. "Entrepreneurial Finance and the Flat-World Hypothesis: Evidence from Crowd-Funding Entrepreneurs in the Arts," Working Papers 10-08, NET Institute, revised Sep 2010.
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