The Problems with and Promise of Entrepreneurial Finance

Douglas Cumming, Sofia Johan

Research output: Contribution to journalArticlepeer-review

76 Citations (Scopus)
16 Downloads (Pure)


This article provides a review of the entrepreneurial finance literature in the surprisingly not very well integrated entrepreneurship and finance journals. Entrepreneurial finance encompasses venture capital, private equity, private debt,
trade credit, IPOs, angel finance, and crowdfunding, among other forms of finance.
We analyze trends in citation activity to these topic areas across 16 journals that publish at least somewhat regularly on these topics, and we show there has been a rise in citations on venture capital, private equity, and IPOs post-2006. We highlight an unfortunate degree of segmentation in the literature, as well as topics that have been the subject of scholarly focus, and identify promising topics for future research.
Original languageEnglish
Pages (from-to)357-370
JournalStrategic Entrepreneurship Journal
Issue number3
Early online date25 Sept 2017
Publication statusPublished - Sept 2017

Bibliographical note

Acknowledgements: We are indebted to Mike Wright for his encouragement and support and two anonymous reviewers for their helpful comments. We gratefully acknowledge generous financial support from the Social Sciences and Humanities Research Council of Canada.


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