基于融资风险视角的众筹平台风险控制研究
|
摘要
众筹融资作为当今我国互联网融资的主要方式,具有极大的发展潜力。然而当前我国众筹融资在实际运行中存在着较多风险,这在一定程度上限制了我国众筹经济的发展。文章在系统梳理国内外相关理论的基础之上,深入挖掘了引发我国众筹融资风险的主要因素,针对性地提出了防控目前我国众筹融资面临风险的具体路径,以促进众筹产业的健康发展。
Crowd funding financing, today, as the main method of Internet financing in China, has great potential for development. However, there are many risks in the process of crowd funding, which restrict China's crowd funding economy. Based on the systematic review of relevant theories at home and abroad, this paper deeply explores the main reasons resulting in the risks of China's crowd funding, and proposes a targeted, specific path to the healthy development of crowd funding.
Crowd funding financing, today, as the main method of Internet financing in China, has great potential for development. However, there are many risks in the process of crowd funding, which restrict China's crowd funding economy. Based on the systematic review of relevant theories at home and abroad, this paper deeply explores the main reasons resulting in the risks of China's crowd funding, and proposes a targeted, specific path to the healthy development of crowd funding.
引文
[1]Ajay K Agrawal,christain Catalini,Avi Goldfarb,Some Simple Economics of Crowdfunding[R],2013(6),NBER Working paper,1-31
[2]Bryan Sullivan,Stephen Ma.Main Drivers of Crowdfunding Success:A Conceptual Framework and Empirical Aalysis[D].Master Thesis Rotterdam School of Management,Erasmus University 2014.
[3]Eleanor Kirby,Shane Worner,Crowd funding;An Infant Industry Crowing Fast[C],2014,(8),NET Institute Working Paper Series,1-57
[4]Myriam Amara.Infer the impacts of social media on crowdfunding[C],Proceedings of the 7th ACMInternational Conference,2015
[5]肖本华.美国众筹融资模式的发展及其对我国的启示[J].南方金融,2013(01):52-56.
[6]刘英,罗明雄.互联网金融模式及风险监管思考[J].中国市场,2013(43):29-36.
[7]]徐京平,王润珩.中国股权众筹风险及其防范[J].宏观经济研究,2016(09):140-147.
[8]陈晨.刍议股权众筹监管之激励相容[J].现代管理科学,2017(04):115-117.
[9]彭红枫,林川.众筹参与者是“凑热闹”还是“真投资”--社会资本视角下基于“众筹网”的经验证据[J].中国经济问题,2018(02):83-101.
[10]Armin Schwienbacher,Benjamin Larralde.Crowd funding of Small Entrepreneurial Ventures in:Douglas Cumming,The Oxford Handbook of Entrepreneurial Finance[M],2010,Oxford University Press,369-391.
[11]Andrea Ordanini,Lucia Micceli,Marta Pizzetti,A.Parasuraman,Crowd-funding:transforming customers in to investors through innovative service through innovative service platforms[J].Journal of Service Management,2011(4),443-470.
[12]Kuppuswamy V.,Bayus B.L.Crowdfunding creative ideas:the dynamics of projects backers in Kickstarter[J].2013(17):313-314
[13]Mollick E R.Swept away by the crowd?Crowdfunding,venture capital,and the selection of entrepreneurs[J].Venture Capital and the Selection of Entrepreneurs,2013(03):203-212.
[14]袁康.互联网时代公众小额集资的构造与监管--以美国JOBS法案为借鉴[J].证券市场导报,2013(06):4-13+20.
[15]邱勋,陈月波.股权众筹:融资模式、价值与风险监管[J].新金融,2014(09):58-62.
[16]付桂存.中小企业股权众筹的融资风险及其防控机制[J].河南师范大学学报(哲学社会科学版),2016(05):86-91.
[17]陈传勇,王小兵.中国股权众筹的风险控制分析--以天使汇众筹平台为例[J].北方经贸,2016(08):84-85.
[18]李洋.我国股权众筹发展的现状、困境与建议[J].金融经济,2018(10):94-95.
[19]李尚远.众筹融资风险及监管路径研究[J].经贸实践,2018(18):145.
[2]Bryan Sullivan,Stephen Ma.Main Drivers of Crowdfunding Success:A Conceptual Framework and Empirical Aalysis[D].Master Thesis Rotterdam School of Management,Erasmus University 2014.
[3]Eleanor Kirby,Shane Worner,Crowd funding;An Infant Industry Crowing Fast[C],2014,(8),NET Institute Working Paper Series,1-57
[4]Myriam Amara.Infer the impacts of social media on crowdfunding[C],Proceedings of the 7th ACMInternational Conference,2015
[5]肖本华.美国众筹融资模式的发展及其对我国的启示[J].南方金融,2013(01):52-56.
[6]刘英,罗明雄.互联网金融模式及风险监管思考[J].中国市场,2013(43):29-36.
[7]]徐京平,王润珩.中国股权众筹风险及其防范[J].宏观经济研究,2016(09):140-147.
[8]陈晨.刍议股权众筹监管之激励相容[J].现代管理科学,2017(04):115-117.
[9]彭红枫,林川.众筹参与者是“凑热闹”还是“真投资”--社会资本视角下基于“众筹网”的经验证据[J].中国经济问题,2018(02):83-101.
[10]Armin Schwienbacher,Benjamin Larralde.Crowd funding of Small Entrepreneurial Ventures in:Douglas Cumming,The Oxford Handbook of Entrepreneurial Finance[M],2010,Oxford University Press,369-391.
[11]Andrea Ordanini,Lucia Micceli,Marta Pizzetti,A.Parasuraman,Crowd-funding:transforming customers in to investors through innovative service through innovative service platforms[J].Journal of Service Management,2011(4),443-470.
[12]Kuppuswamy V.,Bayus B.L.Crowdfunding creative ideas:the dynamics of projects backers in Kickstarter[J].2013(17):313-314
[13]Mollick E R.Swept away by the crowd?Crowdfunding,venture capital,and the selection of entrepreneurs[J].Venture Capital and the Selection of Entrepreneurs,2013(03):203-212.
[14]袁康.互联网时代公众小额集资的构造与监管--以美国JOBS法案为借鉴[J].证券市场导报,2013(06):4-13+20.
[15]邱勋,陈月波.股权众筹:融资模式、价值与风险监管[J].新金融,2014(09):58-62.
[16]付桂存.中小企业股权众筹的融资风险及其防控机制[J].河南师范大学学报(哲学社会科学版),2016(05):86-91.
[17]陈传勇,王小兵.中国股权众筹的风险控制分析--以天使汇众筹平台为例[J].北方经贸,2016(08):84-85.
[18]李洋.我国股权众筹发展的现状、困境与建议[J].金融经济,2018(10):94-95.
[19]李尚远.众筹融资风险及监管路径研究[J].经贸实践,2018(18):145.