投资者对奖励式众筹平台的初始信任研究

发布时间：2018-04-04 03:13

本文选题：奖励式众筹　切入点：初始信任　出处：《山东大学》2017年硕士论文

【摘要】：众筹是一种新兴的互联网投融资模式,即"大众"作为投资者,利用少量投资,从融资者处获得相应回报。奖励式众筹是一种重要的众筹模式,其特点在于以实物或者服务作为投资报偿。众筹网站平台是促成众筹项目成功的重要第三方。目前,奖励式众筹平台发展迅速,但平台中奖励式众筹项目成功率较低,信任问题突出。现有研究中,奖励式众筹信任客体多为项目本身或项目发起者,忽视了投资者对奖励式众筹平台信任的重要性。由于投资者为大众,奖励式众筹过程中初次关系较多,因而研究平台初始信任具有较强的现实意义。因此,本文从信任理论角度,将奖励式众筹平台作为研究对象,研究投资者对奖励式众筹平台初始信任的前置影响因素,及信任相关因素对投资者投资意愿的影响作用。本文包括六个章节:第一章阐述了论文的研究背景、目的意义、内容结构,并指出主要创新点;第二章对国内外关于信任、理性行为理论及众筹的研究文献进行综述;第三章构建投资者对奖励式众筹平台初始信任研究模型,分析影响奖励式众筹平台初始信任的前置影响因素,及信任相关因素对投资意愿的影响,提出相应假设;第四章定义研究变量,设计问卷并进行预调研;第五章展开实证调研,进行数据分析,基于PLS算法分析结构方程模型,并结合研究结论提出相应建议;第六章说明本文主要研究成果与存在的不足,并展望未来研究。本文主要取得以下研究成果:(1)研究指出了影响投资者对奖励式众筹平台初始信任的前置因素,这些因素包括个人因素和情景因素两类。个人因素中参与倾向体现个性,感知风险和感知相似性体现认知过程,这些均对平台初始信任有不同程度的影响。情景因素中结构保障和平台声誉也对平台初始信任具有显著作用。(2)研究发现,投资者对奖励式众筹平台的初始信任能促使其产生投资意愿;此外,投资者对平台的感知风险和感知相似性,除影响平台初始信任外,还对投资意愿有显著影响。其中,在平台中感知到风险会阻碍投资意愿产生,而感知到相似性会促进投资意愿产生。(3)根据本文研究结论,针对奖励式众筹的平台建设者和项目发起者提出针对性的建议,对提高奖励式众筹项目成功率,以及促进整个奖励式众筹行业发展具有一定的积极意义。
[Abstract]:Crowdfunding is a new mode of Internet investment and financing, that is, "Volkswagen" as an investor, using a small amount of investment to obtain a corresponding return from the financier.Incentive crowdfunding is an important crowdfunding model, which is characterized by the repayment of investment in kind or service.Crowdfunding website platform is an important third party to promote the success of crowdfunding projects.At present, the reward crowdfunding platform develops rapidly, but the success rate of the reward crowdfunding project is low, and the trust problem is prominent.In the present research, the object of the reward crowdfunding trust is mostly the project itself or the project initiator, ignoring the importance of investors' trust in the reward crowdfunding platform.Because the investors are the masses and the initial relationship in the process of reward crowdfunding is more, the research on the initial trust of the platform has a strong practical significance.Therefore, from the perspective of trust theory, this paper takes the reward crowdfunding platform as the research object, studies the pre-factors of investor's initial trust to the reward crowd-funding platform, and the effect of the related factors of trust on the investor's investment willingness.This paper includes six chapters: the first chapter describes the research background, purpose significance, content structure, and points out the main innovation points, the second chapter reviews the domestic and foreign research literature on trust, rational behavior theory and crowdfunding.The third chapter constructs the investor initial trust research model to reward crowdfunding platform, analyzes the factors that affect the initial trust of reward crowdfunding platform, and the influence of trust related factors on investment willingness, and puts forward the corresponding assumptions;The fourth chapter defines the research variables, designs the questionnaire and carries on the preliminary investigation; in the fifth chapter, carries on the empirical investigation, carries on the data analysis, analyzes the structural equation model based on the PLS algorithm, and proposes the corresponding suggestion combined with the research conclusion;The sixth chapter describes the main research results and shortcomings, and prospects for future research.This paper mainly obtains the following research results: 1) the research points out the presupposition factors that affect investors' initial trust in reward crowdfunding platform. These factors include personal factors and situational factors.Among the individual factors, participation tendency reflects personality, perceived risk and perceived similarity reflect cognitive process, all of which have different effects on platform initial trust.Among the scenario factors, the structure guarantee and platform reputation also play a significant role in the initial trust of the platform. The study found that investors' initial trust in the reward crowdfunding platform can promote their willingness to invest.The perceived risk and perceived similarity of investors to the platform not only affect the initial trust of the platform, but also have a significant impact on the willingness to invest.Among them, perceived risk in the platform will hinder the generation of investment willingness, while perceived similarity will promote investment willingness.It has certain positive significance to improve the success rate of reward crowdfunding project and promote the development of the whole reward crowdfunding industry.
【学位授予单位】：山东大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F724.6;F832

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