This book discusses the concepts, types, models, and patterns of crowdfunding to provide a comprehensive portraitof this newly developed market-based financial tool. In addition, it examines a number of economic theories to help readersunderstand the proliferation of crowdfunding, reviews empirical works to find gaps in the literature, and outlines future researchdirections. A unique feature of this book is that it discusses Japan's crowdfunding approach, which is somewhat different from that of the Western countries, by highlighting a specific crowdfunding platform (Music Securities) and a crowdfund-backed firm (SABAR restaurant). Further, itexplores the suitability of Japan's crowdfunding approach for addressing the financial needs of SMEs in developing countries,using Bangladesh as a representativecase. Finally, the book identifies some lessons learned from crowdfundingso as to advance research into this phenomenon, and to make it efficient and sustainable. As such, the book will benefit novices, academics, researchers, and policymakers interested in crowdfunding technology. 

Bishnu Kumar Adhikary is Associate Professor at the Graduate School of Business Administration, Kobe University, Japan. He obtained an MBA (finance) and a PhD from Ritsumeikan Asia Pacific University, Japan. He also earned an MBA (marketing) from Calcutta University, India, and an M.COM (accounting) from the University of Dhaka, Bangladesh. He has published articles in a number of respected journals, such as the Journal of Multinational Financial Management, Asia Pacific Business Review, Journal of Comparative Asian Development, South Asian Journal of Business Studies, and Contemporary South Asia.

Kenji Kutsuna is a Professor and Vice Dean of the Graduate School of Science, Technology and Innovation, Kobe University, Japan. He obtained a PhD (commerce) from Osaka City University, Japan. He is also a Professor of Entrepreneurial Finance at the Graduate School of Business Administration, Kobe University. His academic work has been published in several high-ranking journals, such as the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Banking and Finance, and the Journal of Corporate Finance.