Call for papers: Research and Policy Perspectives about Crowdfunding in Europe


Call for papers: Research and Policy Perspectives about Crowdfunding in Europe


Guest Editors: 

Daniele A. Previati, Roma Tre University, Member of Italian Strategic Group (ISG) of European Crowdfunding Network

Francesco Gangi, University of Campania “Luigi Vanvitelli”

Lucia Michela Daniele, University of Campania “Luigi Vanvitelli”

Jérôme Méric, University of Poitiers


The Editors of this call organized a Symposium  ( Lending and Equity Crowdfunding and traditional financial services: competition or coopetition?) at EURAM Conference 2019, Lisbon, 27th June,,  aiming to show the contribution of online-based crowdfunding platforms (lending and equity) to solve seekers’ financing gap (especially SMEs) during their life cycle, and to offer sustainable investment opportunities to capital providers (retail and professional).

In March 2018, the European Commission published its Action Plan on how to support and promote, among the FinTech solutions, the phenomenon of crowdfunding, as an effective way to improve financial inclusion in the digital era.  On 19th December 2019 a compromise was reached between the European Parliament and the Council of Europe with regard to the by the European Commission proposed regulation for crowdfunding (ECSP) concerning financial services

Over the last ten years many streams of research developed around crowdsourcing, crowdfunding and alternative finance, following different research perspectives (empirical, conceptual, quantitative and qualitative) in different managerial disciplines (finance and accounting, marketing, organization). In the light of recent policy and regulatory initiatives at European level about crowdfunding and fintech, this call for papers aims to collect contributions, coming from different research streams and disciplines, to clarify:

  • the role and the future relevance of crowdfunding within the financial system;
  • its functioning and operational aspects;
  • the underlying drivers leading capital seekers and capital providers to use crowdfunding platforms despite possible information asymmetry issues;
  • the usefulness, from a research and a policy perspective, to consider capital seekers, capital providers, and platforms with an holistic approach, analysing the different actors’ motivation to establish and use crowdfunding platforms, compared to more traditional financing and investment channels.

 The collected papers should offer a contribution to fill knowledge gaps about lending and equity crowdfunding, stemming from different disciplines and experiences (academic and operative).

The overarching goal of the papers is to clarify whether the growing field of crowdfunding and the traditional financial systems act as complements or substitutes in channelling financial resources from savers to users. A specific focus is on entrepreneurs and firms point of view, analyzing the criteria followed to choose between traditional channels and crowdfunding platforms, and the expressed preferences towards lending and equity platforms. We hope that the cooperation of interdisciplinary researchers, practitioners and policymakers can allow a better understanding of the crowdfunding phenomenon. The evidence from the collected papers should be beneficial to a large number of stakeholders:

  • companies and entrepreneurs should obtain a better understanding of the potential contribution of crowdfunding to reduce the financial gap and how to efficiently launch a crowdfunding campaign;
  • investors and contributors in general (among which the financial industry as well) should have the opportunity to better assess how crowdfunding could deliver value creation opportunities through financial returns and innovation promotion;
  • moreover, the collected papers could suggest relevant and timely policy implications for supporting the growth and the development of social enterprises and civic projects, in such a way to reinforce the links between crowdfunding business and society and sustainability topics.

Full paper submission: 29 February 2020