互联网产品众筹项目募集额影响因素的实证分析  

Empirical Study on the Influencing Factors of the Raising Amount of Reward-based Crowd-funding Projects

作　　者：勾东宁 董丝雨 GOU Dong-ning;DONG Si-yu(School of Business,Beijing Language and Culture University,Beijing 100083,China;Cox School of Business,Southern Methodist University,Dallas TX 75275,USA)

机构地区：[1]北京语言大学商学院,北京100083 [2]美国南方卫理公会大学考克斯商学院,Dallas TX 75275,USA

出　　处：《技术经济与管理研究》2019年第6期15-19,共5页Journal of Technical Economics & Management

基　　金：中央高校基本科研业务专项资金(17ZDD02)

摘　　要：文章主要研究产品众筹项目募集额的影响因素,旨在探索适应我国市场环境的众筹模式,提高众筹项目成功率,助力大众创新发展,同时帮助互联网众筹平台改善运营现状,完成众筹市场洗牌阶段的过渡。首先简介产品众筹的定义、特征、发展意义;其次基于期望理论、信息不对称和信任理论、羊群效应理论分别作出假设;再现以京东众筹为例进行实证研究并验证相关假设;最后基于实证分析的结论给出相关建议。This paper mainly studies the factors influencing the raising amount of crowd-funding projects.It aims at exploring crowd funding in Chinese market,improving the success rate of reward-based crowd-funding projects,empowering public innovation and entrepreneurship,and helping the Internet crowd-funding platforms to improve their operations and to go through the transition stage of the domestic crowd-funding market.This paper begins with the presentation of the definition,characteristics and significance of crowd funding in China.Then,based on the expectation theory,information asymmetry,trust theory and herd effect theory,it makes an empirical study of the data from JD Crowd Funding,and verifies the relevant hypotheses.Finally,several recommendations are given based on the conclusions of the empirical analysis.

关 键 词：互联网金融 产品众筹 中小微企业 企业融资 

分 类 号：F276.3[经济管理—企业管理] F062.5[经济管理—国民经济]