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On the social and conceptual structure of the 50-year research landscape in entrepreneurial finance

Author

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  • Minh-Hoang Nguyen

    (Phenikaa University
    Ritsumeikan Asia Pacific University)

  • Thanh-Hang Pham

    (Hanoi University
    RMIT Vietnam University)

  • Manh-Toan Ho

    (Phenikaa University)

  • Huyen Thanh T. Nguyen

    (Foreign Trade University)

  • Quan-Hoang Vuong

    (Phenikaa University
    Université Libre de Bruxelles)

Abstract

In recent decades, drastic changes in global social-economic situations have led to significant shifts in the financial market for entrepreneurial firms, thus resulting in changes in entrepreneurial finance discipline. The current body of literature, despite its significant growth, has not provided an overview landscape of this research area. Consequently, this study aims to fill this gap by employing the bibliometric analysis of 6902 articles from 1970 to 2019 extracted from the Web of Science database. By doing so, this paper attempts to provide an overview of the discipline's research output, social and conceptual structure, and offer strategies facilitating the scientific development within the field. The findings indicate that entrepreneurial finance is a young and growing field with an exponential increase in the number of publications (approx. 19.75 percent per year) and rising collaboration tendency among authors. The 1991–2000 period is a crucial milestone of the field thanks to the remarkable growth and impact of studies during this period as well as simultaneously occurring historical events. We also notice a sign of Western ideological homogeneity from the collaboration networks and lists of most productive authors, institutions, and countries. Additionally, using thematic mapping, five major research domains are identified: “venture capital”, “crowdfunding”, “SMEs finance”, “social entrepreneurship finance”, “IPO and corporate governance”. Based on these findings, we raise the concern of lacking diversity in entrepreneurial finance research and propose strategies for authors, journals, and policymakers to diversify the literature.

Suggested Citation

  • Minh-Hoang Nguyen & Thanh-Hang Pham & Manh-Toan Ho & Huyen Thanh T. Nguyen & Quan-Hoang Vuong, 2021. "On the social and conceptual structure of the 50-year research landscape in entrepreneurial finance," SN Business & Economics, Springer, vol. 1(1), pages 1-29, January.
  • Handle: RePEc:spr:snbeco:v:1:y:2021:i:1:d:10.1007_s43546-020-00002-z
    DOI: 10.1007/s43546-020-00002-z
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    More about this item

    Keywords

    Entrepreneurial finance; Venture capital; Crowdfunding; Social entrepreneurship; Ideological homogeneity; Bibliometrics;
    All these keywords.

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • G24 - Financial Economics - - Financial Institutions and Services - - - Investment Banking; Venture Capital; Brokerage
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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