Crowdfunding as a New Phenomenon: Origins, Features and Literature Review

  • Flavio Pichler
  • Ilaria Tezza
Part of the Palgrave Macmillan Studies in Banking and Financial Institutions book series (SBFI)


Crowdfunding is a relatively new funding practice that is undergoing strong growth based on the predominance of such Web 2.0 technologies as social media in the past few years and the opening created by the credit squeeze that has continued since the global financial crisis that broke out in the summer of 2007. To gain an understanding of the role crowdfunding can play within the financial system, this chapter starts with its origins, highlights its main characteristics and draws attention to the associated risks and financial return crowdfunding in particular. Due to its novelty, literature on crowdfunding is quite scarce, but the chapter reviews the most important studies on success factors for crowdfunding campaigns and suggests paths for future research.


Venture Capital Investment Decision Lower Interest Rate Online Platform Home Bias 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© The Editor(s) (if applicable) and The Author(s) 2016

Authors and Affiliations

  • Flavio Pichler
    • 1
  • Ilaria Tezza
    • 1
  1. 1.University of VeronaVERONAItaly

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