众筹模式下小微企业融资可得性的影响因素研究

发布时间：2018-03-26 01:01

本文选题：众筹　切入点：小微企业　出处：《湖南工业大学》2017年硕士论文

【摘要】：众筹作为一种蓬勃发展的创新型互联网金融模式,正成为解决小微企业融资难的一条捷径。本研究介绍了众筹与小微企业的相关理论,同时基于Osterwalder参考模型,主要从价值主张、目标客户、分销渠道、客户关系、价值结构、核心能力、伙伴网络、成本结构以及收入模式9个方面,分析了我国众筹融资的商业模式,并阐述了小微企业众筹融资模式的优势。为了更好地指导小微企业有效的发起众筹项目,提高项目的融资可得性,本研究通过分析众筹的商业模式,构建出众筹模式融资可得性的影响因素模型。随后以筹资者的角度,从项目规模及质量和项目推广程度两大方面提出研究假设。利用八爪鱼采集器对京东众筹网站2015年1月——2016年10月的数据进行采集,共收集到3685个众筹项目数据,又运用SPSS21.0软件进行Logistic回归分析,对这一主题进行实证研究。结果表明:对于项目规模及质量,众筹项目的目标金额、项目获得收益的回报时间与众筹项目的融资可得性呈负相关关系,其中,众筹项目的目标金额与融资可得性影响最大。众筹项目的平均投资额、项目更新进展报告数、曾成功发起的项目数与众筹项目融资可得性都呈正相关关系,其中,平均投资额和项目进展报告数与众筹项目融资可得性的影响相对较大。此外,关于项目推广程度方面,项目获得的点赞数,项目支持者人数、项目的话题数与众筹项目融资可得性都呈正相关关系,其中,项目支持者人数与项目点赞数与众筹项目融资可得性影响较大。而项目关注者人数与众筹项目融资可得性影响不大。最后,在实证分析得出研究结果的基础上,本文为有效改善小微企业众筹融资给出了可行性的建议。对于筹资方,应以优化筹资项目结构和提高筹资项目吸引力作为发展目标。对于众筹网站,应以提升平台影响力,完善平台制度作为发展目标。
[Abstract]:Crowdfunding, as a booming and innovative Internet finance model, is becoming a shortcut to solve the financing difficulties of small and micro enterprises. This study introduces the relevant theories of crowdfunding and small and micro enterprises, and based on the Osterwalder reference model, mainly from the value proposition. This paper analyzes the business model of crowdfunding in China from 9 aspects: target customer, distribution channel, customer relationship, value structure, core competence, partner network, cost structure and revenue model. In order to better guide the small and micro enterprises to effectively initiate crowdfunding projects and improve the availability of project financing, this study analyzes the business model of crowdfunding. A model of the factors influencing the availability of financing in the outstanding funding model is established. Then, from the perspective of the financier, The research hypotheses are put forward from two aspects of the project scale and quality and the project popularization degree. The data collected from January 2015 to October 2016 on JingDong crowdfunding website are collected by using octopus fish collector, and a total of 3685 crowdfunding project data are collected. Using SPSS21.0 software to carry out Logistic regression analysis, the empirical research on this subject is carried out. The results show that: for the project size and quality, the target amount of the crowdfunding project, The return time of the project income is negatively related to the financing availability of the crowdfunding project, among which, the target amount of the crowdfunding project and the availability of the financing are the most important, the average investment of the crowdfunding project, the number of project update progress reports, There is a positive correlation between the number of projects that have been successfully launched and the availability of crowdfunding, in which the average amount of investment and the number of project progress reports have a relatively greater impact on the availability of crowdfunding. The number of likes received, the number of supporters, the number of topics and the availability of crowdfunding are all positively correlated. The number of project supporters, the number of project likes and the availability of crowdfunding project financing have great influence, but the number of project followers has little effect on the availability of crowdfunding project financing. Finally, on the basis of empirical analysis, the results of the research are analyzed. In this paper, some feasible suggestions are given for the effective improvement of crowdfunding for small and micro enterprises. For financing parties, the development goal should be to optimize the structure of financing projects and enhance the attractiveness of financing projects. For crowdfunding websites, the platform influence should be enhanced. Perfect the platform system as the development goal.
【学位授予单位】：湖南工业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F275;F276.3

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