Entrepreneurial finance literature (2000-2023): a bibliometric and topic modeling analysis

This paper shows how bibliometric methods and BERTopic, a topic modeling technique based on transformer embeddings, can be combined to analyze large bodies of literature in management research. We examine the entrepreneurial finance literature, analyzing 19,504 articles from Scopus published between 2000 and 2023. The methodological approach brings together three tools. The bibliometrix R package for bibliometric analysis, VOSviewer for network visualization of co-citation and keyword relationships, and BERTopic for extracting topics from article abstracts. The bibliometric analysis identifies key publication trends, influential authors, leading journals, and international collaboration patterns. The annual publication count shows an 11.85% growth rate, rising from a few hundred in the early 2000s to over 2,200 in 2023. The United States, the United Kingdom, and China emerge as the most prolific contributors. Topic modeling produces 34 research themes, capturing established areas like SME financing, venture capital, and angel investing alongside newer topics such as crowdfunding, fintech, blockchain, and COVID-19 effects on small businesses. BERTopic proves useful for tracking how themes change over time, showing a gradual move from traditional financing toward technology-driven platforms and social-environmental concerns.