2,845
Views
56
CrossRef citations to date
0
Altmetric
Articles

Entrepreneurial implications of crowdfunding as alternative funding source for innovations

, &
Pages 171-189 | Received 20 Jun 2014, Accepted 12 Feb 2015, Published online: 20 May 2015

References

  • Al-Aali, A., and D. J. Teece. 2014. “International Entrepreneurship and the Theory of the (Long-Lived) International Firm: A Capabilities Perspective.” Entrepreneurship Theory and Practice 38 (1): 95–116. doi:10.1111/etap.12077.
  • Alhorr, H. S., C. B. Moore, and G. T. Payne. 2008. “The Impact of Economic Integration on Cross-Border Venture Capital Investments: Evidence from the European Union.” Entrepreneurship Theory and Practice 32 (5): 897–917. doi:10.1111/j.1540-6520.2008.00261.x.
  • Barney, J. B., D. J. Ketchen, and M. Wright. 2011. “The Future of Resource-Based Theory: Revitalization or Decline?” Journal of Management 37 (5): 1299–1315. doi:10.1177/0149206310391805.
  • Baum, M., C. Schwens, and R. Kabst. 2013. “International as Opposed to Domestic New Venturing: The Moderating Role of Perceived Barriers to Internationalization.” International Small Business Journal 31 (5): 536–562. doi:10.1177/0266242611428343.
  • Belleflamme, P., T. Lambert, and A. Schwienbacher. 2013. “Crowdfunding: Tapping the Right Crowd.” Journal of Business Venturing  29 (5): 585–609.
  • Bigliardi, B., A. Ivo Dormio, and F. Galati. 2012. “The Adoption of Open Innovation within the Telecommunication Industry.” European Journal of Innovation Management 15 (1): 27–54. doi:10.1108/14601061211192825.
  • Boyatzis, E. 1998. Transforming Qualitative Information: Thematic Analysis and Code Development? London: Sage.
  • Carlsson, S., V. Duarte, and S. Sarkar. 2011. “Separating the Wheat from the Chaff – A Taxonomy of Open Innovation.” European Journal of Innovation Management 14 (4): 435–459. doi:10.1108/14601061111174907.
  • Carlsson, S., and A. Kutvonen. 2011. “Strategic Application of Outbound Open Innovation.” European Journal of Innovation Management 14 (4): 460–474. doi:10.1108/14601061111174916.
  • Carsrud, A., and M. Brännback. 2011. “Entrepreneurial Motivations: What Do We Still Need to Know?” Journal of Small Business Management 49 (1): 9–26. doi:10.1111/j.1540-627X.2010.00312.x.
  • Conway, C. 2005. “Funding Small Businesses: Business Angels and Venture Capitalists.” The International Journal of Entrepreneurship and Innovation 6 (2): 123–124. doi:10.5367/0000000053966902.
  • Coombes, P. H., and J. D. Nicholson. 2013. “Business Models and Their Relationship with Marketing: A Systematic Literature Review.” Industrial Marketing Management 42 (5): 656–664. doi:10.1016/j.indmarman.2013.05.005.
  • Covin, J. G., and D. Miller. 2014. “International Entrepreneurial Orientation: Conceptual Considerations, Research Themes, Measurement Issues, and Future Research Directions.” Entrepreneurship Theory and Practice 38 (1): 11–44. doi:10.1111/etap.12027.
  • Cuellar, S. S., and M. Brunamonti. 2014. “Retail Channel Price Discrimination.” Journal of Retailing and Consumer Services  21 (3): 339–346.
  • Cuevas-Rodríguez, G., C. Cabello-Medina, and A. Carmona-Lavado. 2014. “Internal and External Social Capital for Radical Product Innovation: Do They Always Work Well Together?” British Journal of Management  25 (2): 266–284.
  • Cumming, D., and S. Johan. 2010. “The Differential Impact of the Internet on Spurring Regional Entrepreneurship.” Entrepreneurship Theory and Practice 34 (5): 857–883. doi:10.1111/j.1540-6520.2009.00348.x.
  • De Jong, J. P. 2013. “The Decision to Exploit Opportunities for Innovation: A Study of High-Tech Small-Business Owners.” Entrepreneurship Theory and Practice 37 (2): 281–301. doi:10.1111/j.1540-6520.2011.00459.x.
  • De Nijs, R. 2013. “Information Provision and Behaviour-Based Price Discrimination.” Information Economics and Policy 25 (1): 32–40. doi:10.1016/j.infoecopol.2013.01.003.
  • Dimov, D. 2011. “Grappling with the Unbearable Elusiveness of Entrepreneurial Opportunities.” Entrepreneurship Theory and Practice 35 (1): 57–81. doi:10.1111/j.1540-6520.2010.00423.x.
  • Drury, J., and S. Reicher. 1999. “The Intergroup Dynamics of Collective Empowerment: Substantiating the Social Identity Model of Crowd Behavior.” Group Processes & Intergroup Relations 2 (4): 381–402. doi:10.1177/1368430299024005.
  • Drury, J., and C. Stott. 2011. “Contextualising the Crowd in Contemporary Social Science.” Contemporary Social Science 6 (3): 275–288. doi:10.1080/21582041.2011.625626.
  • Estrin, S., T. Mickiewicz, and U. Stephan. 2013. “Entrepreneurship, Social Capital, and Institutions: Social and Commercial Entrepreneurship Across Nations.” Entrepreneurship Theory and Practice 37 (3): 479–504. doi:10.1111/etap.12019.
  • Firth, N. 2012. “Crowdfunding Successes Show Value of Small Donations.” The New Scientist 213 (2858): 22. doi:10.1016/S0262-4079(12)60817-3.
  • Fisk, R. P., A. Ordanini, L. Miceli, M. Pizzetti, and A. Parasuraman. 2011. “Crowd-Funding: Transforming Customers into Investors Through Innovative Service Platforms.” Journal of Service Management 22 (4): 443–470. doi:10.1108/09564231111155079.
  • Gedajlovic, E., B. Honig, C. B. Moore, G. T. Payne, and M. Wright. 2013. “Social Capital and Entrepreneurship: A Schema and Research Agenda.” Entrepreneurship Theory and Practice 37 (3): 455–478. doi:10.1111/etap.12042.
  • Harrison, R. 2013. “Book Review: Venture Capital, Private Equity, and the Financing of Entrepreneurship.” International Small Business Journal 31 (7): 832–834. doi:10.1177/0266242613484248.
  • Hopp, C., and C. Lukas. 2014. “A Signaling Perspective on Partner Selection in Venture Capital Syndicates.” Entrepreneurship Theory and Practice  38 (3): 635–670.
  • Khoury, T. A., M. Junkunc, and D. L. Deeds. 2013. “The Social Construction of Legitimacy through Signaling Social Capital: Exploring the Conditional Value of Alliances and Underwriters at Ipo.” Entrepreneurship Theory and Practice 37 (3): 569–601. doi:10.1111/etap.12030.
  • Kittur, A. 2010. “Crowdsourcing, Collaboration and Creativity.” XRDS 17 (2): 22–26. doi:10.1145/1869086.1869096.
  • Kozinets, R. V., A. Hemetsberger, and H. J. Schau. 2008. “The Wisdom of Consumer Crowds: Collective Innovation in the Age of Networked Marketing.” Journal of Macromarketing 28 (4): 339–354. doi:10.1177/0276146708325382.
  • Krasniqi, B. A., and I. Mustafa. 2011. “Financing Constraints and Small Firm Investment Behaviour.” International Journal of Entrepreneurship and Innovation Management 14 (2/3): 151–175. doi:10.1504/IJEIM.2011.041729.
  • Kumar, K., G. Boesso, F. Favotto, and A. Menini. 2012. “Strategic Orientation, Innovation Patterns and Performances of Smes and Large Companies.” Journal of Small Business and Enterprise Development 19 (1): 132–145. doi:10.1108/14626001211196442.
  • Lambert, S. C., and R. A. Davidson. 2013. “Applications of the Business Model in Studies of Enterprise Success, Innovation and Classification: An Analysis of Empirical Research from 1996 to 2010.” European Management Journal 31 (6): 668–681. doi:10.1016/j.emj.2012.07.007.
  • Lambert, R. A., C. Leuz, and R. E. Verrecchia. 2012. “Information Asymmetry, Information Precision, and the Cost of Capital.” Review of Finance 16 (1): 1–29. doi:10.1093/rof/rfr014.
  • Leece, D., T. Berry, J. Miao, and R. Sweeting. 2012. “The Post-Investment Relationship Between a Venture Capitalist and Its Investee Companies.” International Journal of Entrepreneurial Behaviour & Research 18 (5): 587–602. doi:10.1108/13552551211253946.
  • Lehner, O. M. 2013. “Crowdfunding Social Ventures: A Model and Research Agenda.” Venture Capital 15 (4): 289–311. doi:10.1080/13691066.2013.782624.
  • Lehner, O. M. 2014. “The Formation and Interplay of Social Capital in Crowdfunded Social Ventures.” Entrepreneurship & Regional Development 26 (5–6): 478–499.
  • Li, Y., and S. A. Zahra. 2012. “Formal Institutions, Culture, and Venture Capital Activity: A Cross-Country Analysis.” Journal of Business Venturing 27 (1): 95–111. doi:10.1016/j.jbusvent.2010.06.003.
  • Lisboa, A., D. Skarmeas, and C. Lages. 2011. “Entrepreneurial Orientation, Exploitative and Explorative Capabilities, and Performance Outcomes in Export Markets: A Resource-Based Approach.” Industrial Marketing Management 40 (8): 1274–1284. doi:10.1016/j.indmarman.2011.10.013.
  • Lombard, M., J. Snyder-Duch, and C. C. Bracken. 2002. “Content Analysis in Mass Communication: Assessment and Reporting of Intercoder Reliability.” Human Communication Research 28 (4): 587–604. doi:10.1111/j.1468-2958.2002.tb00826.x.
  • Mason, W., and D. Watts. 2010. “Financial Incentives and the ‘Performance of Crowds’.” ACM SIGKDD Explorations Newsletter 11 (2): 100–108. doi:10.1145/1809400.1809422.
  • Massolution. 2013. “2013cf Crowdfunding Industry Report.” Boston, MA. (Access 2013).
  • Minniti, M. 2008. “The Role of Government Policy on Entrepreneurial Activity: Productive, Unproductive, or Destructive?” Entrepreneurship Theory and Practice 32 (5): 779–790. doi:10.1111/j.1540-6520.2008.00255.x.
  • Mitra, D. 2012. “The Role of Crowdfunding in Entrepreneurial Finance.” Delhi Business Review 13 (2): 67–72.
  • Mollick, E. 2014. “The Dynamics of Crowdfunding: An Exploratory Study.” Journal of Business Venturing 29 (1): 1–16. doi:10.1016/j.jbusvent.2013.06.005.
  • Nagy, B. G., J. M. Pollack, M. W. Rutherford, and F. T. Lohrke. 2012. “The Influence of Entrepreneurs' Credentials and Impression Management Behaviors on Perceptions of New Venture Legitimacy.” Entrepreneurship Theory and Practice 36 (5): 941–965. doi:10.1111/j.1540-6520.2012.00539.x.
  • Oakey, R. P. 2013. “Open Innovation and Its Relevance to Industrial Research and Development: The Case of High-Technology Small Firms.” International Small Business Journal 31 (3): 319–336. doi:10.1177/0266242612458942.
  • Palo, T., and J. Tähtinen. 2013. “Networked Business Model Development for Emerging Technology-Based Services.” Industrial Marketing Management 42 (5): 773–782. doi:10.1016/j.indmarman.2013.05.015.
  • Parrino, Richard J., and Peter J. Romeo. 2012. “Jobs Act Eases Securities-Law Regulation of Smaller Companies.” Journal of Investment Compliance 13 (3): 27–35. doi:10.1108/15285811211266083.
  • Rauch, A., R. van Doorn, and W. Hulsink. 2014. “A Qualitative Approach to Evidence-Based Entrepreneurship: Theoretical Considerations and an Example Involving Business Clusters.” Entrepreneurship Theory and Practice  38 (2): 333–368.
  • Reuber, A. R., and E. Fischer. 2009. “Signalling Reputation in International Online Markets.” Strategic Entrepreneurship Journal 3 (4): 369–386. doi:10.1002/sej.79.
  • Roessl, D., M. Fink, and S. Kraus. 2010. “Does Size Matter? Balancing Power in Dyadic Cooperation Relationships.” The International Journal of Entrepreneurship and Innovation 11 (2): 119–127. doi:10.5367/000000010791291802.
  • Sarasvathy, S. D., N. Dew, S. R. Velamuri, and S. Venkataraman. 2010. “Three Views of Entrepreneurial Opportunity.” In Handbook of Entrepreneurship Research, edited by Zoltan J.Acs and David B.Audretsch, 77–96. New York, NY: Springer.
  • Schwienbacher, A., and B. Larralde. 2010. “Crowdfunding of Small Entrepreneurial Ventures.” In The Oxford Handbook of Entrepreneurial Finance, edited by D. Cumming, 369–392. Oxford: Oxford University Press.
  • Sorescu, A., R. T. Frambach, J. Singh, A. Rangaswamy, and C. Bridges. 2011. “Innovations in Retail Business Models.” Journal of Retailing 87 (1): S3–S16. doi:10.1016/j.jretai.2011.04.005.
  • Spedale, S., and T. J. Watson. 2013. “The Emergence of Entrepreneurial Action: At the Crossroads between Institutional Logics and Individual Life-Orientation.” International Small Business Journal  32 (7): 759–776.
  • Stemler, A. R. 2013. “The Jobs Act and Crowdfunding: Harnessing the Power – and Money – of the Masses.” Business Horizons 56 (3): 271–275. doi:10.1016/j.bushor.2013.01.007.
  • Whitla, P. 2009. “Crowdsourcing and Its Application in Marketing Activities.” Contemporary Management Research 5 (1): 15–28.
  • Yum, H., B. Lee, and M. Chae. 2012. “From the Wisdom of Crowds to My Own Judgment in Microfinance through Online Peer-to-Peer Lending Platforms.” Electronic Commerce Research and Applications 11 (5): 469–483. doi:10.1016/j.elerap.2012.05.003.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.