创意众筹平台、直融延伸和市场识别——基于“点名时间”平台的实证分析  

Creative crowdfunding platform,direct-financing extension and market identity:empirical analysis based on“Dian Ming Time”platform

作　　者：黄玲[1,2] 周勤[1] 

机构地区：[1]东南大学经济管理学院,江苏南京211189 [2]重庆三峡学院财经学院,重庆万州404100

出　　处：《东南大学学报（哲学社会科学版）》2016年第3期96-105,148,共10页Journal of Southeast University(Philosophy and Social Science)

基　　金：国家社科基金重点项目(15AJL004);江苏高校哲学社会科学研究重大项目(2015ZDAXM005);渝东北地区农村与区域发展研究中心2015年开放基金项目(2015ydbzx-04);重庆市教委人文社科项目(14SKL03);重庆三峡学院青年项目(10QN-10)成果之一

摘　　要：传统创意企业不仅缺乏创意展示的平台,还需与直融机构进行一对一的谈判,交易成本高且价值难以体现。创意众筹平台延伸了直融渠道并通过市场竞争来识别创意的价值。实证表明,创意众筹平台具有双边市场特征,在达到临界容量前存在免费提供创意展示的激励,并使直融延伸成为可能。创意企业的质量信号可以被市场有效识别,并体现出其市场竞争力。Drawing on the data about Demohour,this paper attempts to explore the small enterprises' creative financing and market identity. It points out that creative crowdfunding platforms help extend direct-financing channels and identify the value of creativity through market competition. Our empirical analysis shows that creative crowdfunding platforms,characterized by a typical two-sided market,provide free opportunities for creativity display before reaching its critical mass and make direct-financing extension possible. It is also found that quality signals of creative enterprises can be recognized by market efficiently.

关 键 词：众筹 企业融资 直融延伸 市场识别 “点名时间”平台 

分 类 号：F832.4[经济管理—金融学] F724.6