What, Where, Who, and How? A Bibliometric Study of Crowdfunding Research

In the first ten years of research on crowdfunding (CF), the growing interest in this topic among scholars has led to a rapid evolution of the scientific literature. Despite this interesting trend, no attempt has yet been made to provide a bibliographic analysis about how the subject has evolved over time and how the community working on this topic has changed. This article aims to investigate the status of and the trends in this literature by identifying, synthesizing, and evaluating the extant research on CF. Specifically, we focus on the characteristics of the authors and manuscripts written on the subject; the thematic areas investigated by scholars; the methodology employed in the existing studies; the main outlets for publication; and the level of dispersion of the scientific community involved in investigating CF. We also provide an analysis of backward and forward citations to provide an indication of the impact of CF research. Overall, this article shows that this body of research has undergone a significant transformation, moving from an early stage of identification and exploration to a more advanced phase characterized by a greater maturity, rigor and indepth coverage of the examined topics. We also show a limited tendency for cross-country collaborations and an increasing impact of CF research over the years. This article may represent a guide for scholars interested in conducting research on CF, to identify highly debated research areas, and to select the most adequate methodologies and the right publication outlets.