Literature Review and Future Prospects of Crowdfunding Platform Research:A Scoping Review Methodology
In recent years,with the flourishing development of the crowdfunding industry,more and more scholars have begun to pay attention to this novel financing model,resulting in a surge of related research literature.Currently,comprehensive literature reviews on crowdfunding research are still relatively scarce,and those focusing specifically on crowdfunding platforms are notably lacking.The practical significance of researching crowdfunding platforms lies in filling this gap in the field,not only providing direction for scholars studying crowdfunding platforms but also assisting participants in crowdfunding activities in making rational investment decisions.The scientific significance of studying crowdfunding platforms lies in exploring the connections between crowdfunding and other fields based on existing theories.However,existing literature reviews exhibit three main shortcomings:(1)They typically employ traditional systematic review methods and do not use more flexible,traceable scoping review approaches to summarize the current state of crowdfunding platform research.(2)They focus on categorizing literature based on the three parties involved in crowdfunding activities,paying insufficient attention to summarizing literature on the internal operating mechanisms and potential risks of crowdfunding platforms.(3)They lack a future outlook for crowdfunding platform research,offering limited reference value for the development of future related studies.This literature review utilizes a highly flexible and traceable scoping review method to inductively organize and analyze research related to crowdfunding platforms.This method involves a preliminary assessment of the potential scale and scope of the existing literature to determine the nature and extent of research evidence.The scoping review systematically searches,selects,and integrates existing knowledge to explore an exploratory research question,with the aim of mapping key concepts,types of evidence,and identifying gaps in research within a specific area,thereby guiding future research priorities.This paper emphasizes summarizing the shortcomings of past studies and delves into the operational mechanisms and potential risks of crowdfunding platforms.When employing the scoping review method,it's essential to choose relevant literature for analysis.The five-stage framework of the scoping review method uses a rigorous,transparent literature selection process,which allows for the repetition of search strategies and enhances the reliability of search results.The five stages of the framework are:(1)Identifying the research question.(2)Refining the related studies.(3)Selecting research literature.(4)Charting the data.(5)Collating,summarizing,and reporting the results.The success rate of projects on crowdfunding platforms has always been a focal point of interest for fundraisers,investors,platform operators,and other stakeholders.Existing research has identified some factors that influence the success rate of crowdfunding projects.However,this paper,through analysis and summarization of existing literature,finds that although research literature focusing on crowdfunding platforms has increased in recent years,it is still in its initial stages.Specifically,literature that concentrates on certain research questions related to crowdfunding platforms deserves deeper exploration,including investigating the internal operational mechanisms of crowdfunding platforms,potential risks,and how to mitigate these risks.Moreover,quantitative research based on real data from crowdfunding platforms is still scarce.Both the industry and academia urgently need to deepen their research on crowdfunding platforms.Research on crowdfunding platforms has not yet developed into a mature system.Previous studies have primarily focused on the two roles involved in crowdfunding activities:the fundraisers and the investors,neglecting the internal mechanisms and bridging role of the crowdfunding platforms in these activities.Through a literature review,this paper further anticipates three directions for future research on crowdfunding platforms:(1)Research on the shortage of initial capital in crowdfunding platform financing.(2)Research on information asymmetry among investors on crowdfunding platforms.(3)Research on information disclosure mechanisms on crowdfunding platforms.Researching crowdfunding platforms not only involves challenges but also presents new opportunities.While currently there are few scholars focusing on crowdfunding platforms,the continuous refinement of the crowdfunding business model means that future research questions about crowdfunding platforms are worth further exploration.Using a scientific and rational review method to summarize the current state of research on crowdfunding platforms is very important.Scholars are increasingly focusing on crowdfunding platforms as a key research topic,and the number of publications on this theme is rising year by year.From a practical standpoint,in-depth exploration of research related to crowdfunding platforms not only helps scholars better understand future research trends of crowdfunding platforms but also assists participants in crowdfunding activities in making informed decisions.This study aims to encourage scholars at home and abroad in their research related to crowdfunding platforms,providing significant reference value for future studies at the same time,it offers guidance for the improvement of operational mechanisms and business models of crowdfunding platforms,and serves as an important reference for investors on how to mitigate investment risks.
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