论众筹融资的监管制度

发布时间：2018-05-21 15:17

本文选题：众筹融资 + 资本市场　；参考：《华中科技大学》2015年硕士论文

【摘要】：众筹融资不仅是互联网金融发展的产品,也是我国中小企业、创新性企业发展需要,为众多草根一族提供投资渠道,多层次资本市场完善的现实需求。其诸多优点如:降低融资成本、拓宽融资渠道、降低融资风险、促进金融创新等为经济发展增添活力。国外发达国家美国、英国正在关注和支持众筹融资的发展。并从立法层面做出监管规制。对于众筹融资这个新事物,要兼顾保护投资者利于与资本健康发展之间寻求平衡。二者不可偏废。众筹融资在特殊的经济背景下,应运而生并且规模不断壮大,正在为实体经济做出巨大贡献,缓解了投资者无项目可投资,融资者却难以融资的结构性失调问题,这样可以使投资者获得比在传统金融渠道收益更多的好处,也救活了许多有创意、难以在传统金融机构融到资金的中小企业,创新性企业、微型企业由于处于刚刚起步阶段,资本不充足,没有连续盈利的历史。这类有创意的项目由于缺乏抵押财产,不能在传统金融渠道融到资金。企业为了发展,急需资金的情况下,有可能转向地下钱庄。这风险更大,对于企业的长期发展,是极大的风险。然而此类企业的发展可以为经济社会贡献80%左右的力量。因此众筹的发展是现实的要求,中小企型企业的发展能够提供大量就业岗位,为社会的和谐发展贡献力量。本文旨在分析众筹融资的缘起,存在意义(理论意义和现实意义),梳理现阶段所存在的主要问题,分析问题,借鉴国外美国、英国等较为成熟的监管制度和实践,结合我国特殊经济国情出现的一些问题,提出个人的见解以期解决我国众筹融资现存问题的浅薄建议。
[Abstract]:Crowdfunding is not only the product of Internet financial development, but also the development needs of small and medium-sized enterprises in China. Its many advantages, such as reducing financing cost, widening financing channels, reducing financing risk, promoting financial innovation, etc., add vitality to economic development. The United States and the United Kingdom, the developed countries abroad, are paying close attention to and supporting the development of crowdfunding. And from the legislative level to make regulatory regulation. For the new issue of crowdfunding, balance should be struck between protecting investors' interests and the healthy development of capital. The two should not be biased. In the special economic background, crowdfunding has emerged as the times require and has been growing in scale. It is making a great contribution to the real economy, alleviating the structural imbalance that investors have no project to invest in, but it is difficult for the financiers to raise funds. This will enable investors to reap more benefits than in traditional financial channels, and will also revive many innovative SMEs, innovative enterprises and microenterprises that are innovative and difficult to finance in traditional financial institutions, as they are just in their infancy. Insufficient capital, no history of continuous profits. Such innovative projects cannot be financed through traditional financial channels because of a lack of collateral. In order to develop, enterprises are in urgent need of funds, and may turn to underground banks. This risk is greater, for the long-term development of enterprises, is a great risk. However, the development of such enterprises can contribute about 80% of the economic and social strength. Therefore, the development of crowdfunding is a realistic requirement. The development of SMEs can provide a large number of jobs and contribute to the harmonious development of society. The purpose of this paper is to analyze the origin and significance (theoretical and practical significance) of crowdfunding, to sort out the main problems existing in the present stage, to analyze the problems, and to learn from the more mature regulatory systems and practices of foreign countries, such as the United States and the United Kingdom. Combined with some problems in China's special economic situation, this paper puts forward some personal opinions in order to solve the existing problems of crowd-raising and financing in China.
【学位授予单位】：华中科技大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.28

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