资源获取视角下创业者网络能力对众筹项目融资绩效的影响研究:一个有调节的中介  

The Performance of Entrepreneurs’Network Capabilities on Crowdfunding Project Financing from the Perspective of Resource Acquisition Impact Studies:An Intermediary with Regulation

作　　者：庞建刚[1] 李思思 Pang Jiangang;Li Sisi(School of Economics and Management,Southwest University of Science and Technology,Mianyang 621000,Sichuan,China)

机构地区：[1]西南科技大学经济管理学院,四川绵阳621000

出　　处：《技术经济》2022年第10期94-108,共15页Journal of Technology Economics

摘　　要：众筹作为创业者筹资的新兴模式,借大众创新创业之契机发展迅速。为解决众筹融资过程中的资源获取问题,本文结合创业者网络能力理论、社会网络理论,从资源获取视角以“摩点网”的3730个众筹成功样本为研究对象,采用基准回归、异质性分析及中介效应、调节效应回归等实证研究方法,分析了创业者的网络能力对产品类众筹项目融资绩效的影响,实证发现:创业者的网络能力优化会通过增加创业者的社会资本积累提升众筹项目的融资绩效,且项目的竞争强度能够显著调节“创业者网络能力‑社会资本‑众筹项目融资绩效”的影响路径。在此基础上,得出研究结论并给出相关建议。Crowdfunding,as a new financing model for entrepreneurs,has developed rapidly by taking the opportunity of public innovation and entrepreneurship.In order to solve the problem of resource acquisition in the process of crowdfunding,the impact of entrepreneurs’network ability on the financing performance of product crowdfunding projects from the perspective of resource acquisition was analyzed,taking 3730 successful crowdfunding samples of“motian.com”as the research object,and using empirical research methods such as benchmark regression,heterogeneity analysis,intermediary effect and regulatory effect regression.The empirical results show that the optimization of entrepreneurs’network capability will improve the financing performance of crowdfunding projects by increasing entrepreneurs’social capital accumulation,and the competition intensity of the project can significantly adjust the influence path of“entrepreneurs’network capability-social capital-crowdfunding project financing performance”.On this basis,the research conclusions are drawn and relevant suggestions are given.

关 键 词：创业者网络能力 社会资本 项目竞争强度 众筹项目 融资绩效 

分 类 号：F832.4[经济管理—金融学]