“大家投”股权众筹案例研究

发布时间：2018-02-28 01:21

本文关键词： 股权众筹 “大家投”平台案例研究　出处：《辽宁大学》2015年硕士论文　论文类型：学位论文

【摘要】：众筹是指初创企业或项目通过互联网平台发布项目信息供投资者浏览并向投资者筹集资金的一种融资方式。多年来,我国初创企业面临的融资难、融资贵问题始终难以解决。众筹的出现拓宽了初创企业和项目的融资渠道,降低了投资者的投资门槛,扩大了投资者群体,使那些难以依靠传统融资渠道获取资金的企业看到了新的希望。同时,众筹的发展对我国发展多层次资本市场、深化金融体制改革有重要的推动作用。因此,众筹尤其是股权众筹的产生与发展引起了全社会的极大关注。虽然众筹的出现弥补了传统融资方式所不能涵盖的领域,使更多的初创企业或项目能够获得融资,但是,在中国现有的金融环境和法律框架之下,众筹尤其是股权众筹面临着非法集资和投资者利益保护等风险。目前,我国股权众筹平台主要通过特殊的运作模式去设法规避这些风险。然而,股权众筹在中国的进一步发展仍然面临着众多制约因素。因此,法律上和制度上的修改就显得尤为必要。本文首先以“大家投”股权众筹平台为例,将股权众筹与其他传统融资方式①进行详细比较。其次,本文分析“大家投”平台运作模式的特点以及这些特点在规避风险方面发挥着怎样的作用。再次,本文会分析我国股权众筹发展所面临的制约因素。最后,借鉴美国JOBS法案中的监管措施对我国众筹发展提出可行性建议。本文共分为五个部分:绪论部分介绍本文的写作背景、研究意义、研究方法、文献综述以及创新点。第二部分主要对所选案例进行介绍,包括“大家投”股权众筹一个典型案例、“大家投”平台简介、“大家投”平台运作流程介绍。第三部分主要对案例进行分析,这部分内容主要为三个子部分,包括众筹概述,主要介绍概念、分类,产生与发展进程等内容、股权众筹与其它传统融资方式的比较、“大家投”平台股权众筹的运作特点等内容。第四部分分析股权众筹在我国的进一步发展所面临的制约因素,这些因素通常是股权众筹平台在制度设计上所不能回避的。第五部分,这部分主要借鉴美国JOBS法案中的相关内容对我国股权众筹的发展提出切实可行的建议。
[Abstract]:Crowdfunding is a method of financing startups or projects that publish project information through Internet platforms for investors to browse and raise funds from. The emergence of crowdfunding has widened funding channels for startups and projects, lowered investment barriers for investors and expanded the investor base. At the same time, the development of crowdfunding will play an important role in promoting the development of multi-level capital market and deepening the reform of the financial system. The emergence and development of crowdfunding, especially equity crowdfunding, has aroused great concern in the whole society. Although the emergence of crowdfunding has made up for the areas that traditional financing methods cannot cover, so that more startups or projects can obtain financing, but, Under the current financial environment and legal framework in China, crowdfunding, especially equity crowdfunding, faces risks such as illegal fund-raising and protection of investors' interests. The stock raising platform of our country tries to avoid these risks mainly through the special operation mode. However, the further development of shareholder financing in China still faces many restrictive factors. It is particularly necessary to modify the law and system. Firstly, taking the "everybody cast" stock raising platform as an example, we compare the stock raising with other traditional financing methods in detail. Secondly, This paper analyzes the characteristics of the "everybody cast" platform operation model and how these characteristics play a role in avoiding risks. Thirdly, this paper will analyze the constraints faced by the development of equity crowdfunding in China. This article is divided into five parts: the introduction part introduces the writing background of this article, the significance of research, the research methods. Literature review and innovation. The second part mainly introduces the selected cases, Including a typical case of crowdfunding, a brief introduction to the platform, an introduction to the operation process of the platform. The third part mainly analyzes the case. This part mainly consists of three sub-parts, including an overview of crowdfunding. It mainly introduces the concept, classification, production and development process, etc. Compared with other traditional financing methods, the operation characteristics of "everyone cast" platform stock crowdfunding are compared. Part 4th analyzes the constraints faced by the further development of shareholding crowdfunding in China. These factors are usually unavoidable in the institutional design of the shareholding crowdfunding platform. Part 5th, which mainly draws lessons from the relevant contents of the JOBS Act of the United States, puts forward practical suggestions for the development of China's shareholding crowdfunding.
【学位授予单位】：辽宁大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F724.6;F832.4

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