New financing alternatives, such as microfinance, crowdfunding, and peer–to–peer lending, have expanded rapidly. To date, few studies have investigated the antecedents and consequences of these financing mechanisms. This special issue provides an academic foundation for understanding new financial options that entrepreneurs can now use to start and grow ventures. In the introductory article, we integrate strands of the literature on emerging innovations in entrepreneurial finance and provide a framework for a systematic approach to new research questions. We conclude with a discussion of the six papers in the special issue and demonstrate how they contribute to the framework.
AllisonT.H., DavisB.C., ShortJ.C., & WebbJ.W. (2014). Crowdfunding in a prosocial microlending environment: Examining the role of intrinsic versus extrinsic cues. Entrepreneurship Theory and Practice, 39(1), 53–73.
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ArmendárizB. & MorduchJ. (2010). The economics of microfinance (2nd ed.). Cambridge, MA: MIT Press.
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AutioE., KenneyM., MustarP., SiegelD., & WrightM. (2014). Entrepreneurial innovation and context. Research Policy, 43(7), 1097–1108.
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BreedonT. (2012). Boosting finance options for business. London: Department for Business Innovation and Skills.
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BrutonG.D. (2010). Business and the world's poorest billion—The need for an expanded examination by management scholars. Academy of Management Perspectives, 24, 5–9.
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BrutonG.D., IrelandD., & KetchenD. (2012). Toward a research agenda on the informal economy. Academy of Management Perspectives, 26, 1–11.
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BrutonG.D., KhavulS., & ChavezH. (2011). Microlending in emerging economies: Building a new line of inquiry from the ground up. Journal of International Business Studies, 42, 718–739.
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ChakravartyS. & ShahriahA.Z.M. (2014). Selection of borrowing partners in joint liability–based microcredit: Evidence from framed field experiments in Bangladesh. Entrepreneurship Theory and Practice, 39(1), 129–144.
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CholakovaM. & ClarysseB. (2014). Does the possibility to make equity investments in crowdfunding projects crowd out reward–based investments?Entrepreneurship Theory and Practice, 39(1), 145–172.
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ClarysseB., WrightM., & Van HoveJ. (2014). A look inside accelerators. Report for NESTA. London: NESTA.
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ColomboM.G., FranzoniC., & Rossi–LamastraC. (2014). Internal social capital and the attraction of early contributions in crowdfunding. Entrepreneurship Theory and Practice, 39(1), 75–100.
De CastroJ., KhavulS., & BrutonG.D. (2014). Informal firms and meso institutions in Latin America. Strategic Entrepreneurship Journal, 8(1), 75–94.
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DuarteJ., SiegelS., & YoungL. (2012). Trust and credit: The role of appearance in peer–to–peer lending. Review of Financial Studies, 25(8), 2455–2484.
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DuvendackM., Palmer–JonesR., CopestakeJ.G., HooperL., LokeY., & RaoN. (2011). What is the evidence of the impact of microfinance on the well–being of poor people?London: EPPI–Centre, Social Science Research Unit, Institute of Education, University of London.
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FraserS., BhaumikS., & WrightM. (2014). What do we know about entrepreneurial finance and its relationship with growth? To appear in International Small Business Journal.
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GedajlovicE., HonigB., MooreC., PayneG., & WrightM. (2013). Social capital and entrepreneurship: A schema and research agenda. Entrepreneurship Theory and Practice, 37(3), 455–478.
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HarrisonR. (2013). Crowdfunding and the revitalisation of the early stage risk capital market: Catalyst or chimera?Venture Capital, 15(4), 283–287.
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HoskissonR.E., WrightM., FilatotchevI., & PengM. (2013). Emerging multinationals from mid–range economies: The influence of institutions and factor markets. Journal of Management Studies, 50, 1295–1321.
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KhavulS. & BrutonG. (2013). Harnessing innovation for change: Sustainability and poverty in developing countries. Journal of Management Studies, 50(2), 285–306.
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KhavulS., BrutonG.D., & WoodE. (2009). Informal family business in Africa. Entrepreneurship Theory and Practice, 33, 1219–1238.
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KhavulS., ChavezH., & BrutonG.D. (2013). When institutional change outruns the change agent: The contested terrain of entrepreneurial microfinance for those in poverty. Journal of Business Venturing, 28(1), 30–50.
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LeydenD., LinkA.N., & SiegelD.S. (2014). A theoretical analysis of the role of social networks in entrepreneurship. Research Policy, 43(7), 1157–1163.
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ManigartS. & WrightM. (2013). Venture capital investors and portfolio firms. Foundations and Trends in Entrepreneurship, 9(4/5), 365–570.
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MiesingP., WattsB., SiegelD.S., & Briar–LawsonK. (2014). Lessons on microenterprise development from a university–based microlending development program. In AudretschD., LinkA., & WalshokM. (Eds.), Oxford handbook of local competitiveness. Oxford, U.K: Oxford University Press.
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MillerP. & BoundK. (2011). The startup factories: The rise of accelerator programmes to support new technology ventures. Discussion paper. London: NESTA.
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MossT.W., NeubaumD.O., & MeyskensM. (2014). The effect of virtuous and entrepreneurial orientations on microfinance lending and repayment: A signaling theory perspective. Entrepreneurship Theory and Practice, 39(1), 27–52.
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PierrakisY. & CollinsL. (2013). Banking on each other: Peer to peer lending to business: Evidence from Funding Circle. London: NESTA.
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