互联网众筹平台与项目发起人的演化博弈研究

发布时间：2018-04-16 23:35

本文选题：互联网众筹 + 运作模式　；参考：《中国科学技术大学》2017年硕士论文

【摘要】：众筹,简单来说就是向普通社会大众筹集闲置的社会资金用于某一特定的社会活动或生产劳动。随着互联网技术的快速发展和自媒体时代的到来,众筹实现了互联网化,正式登上了金融融资的舞台。互联网众筹高效、便捷、对融资需求者的准入门槛低的特点与我国一直困扰与融资难题的小微企业具有很高的契合度,近几年在我国得到了飞速发展。但由于互联网众筹模式在国内外都处于发展初期,从国外成熟互联网众筹平台中获得的经验有限,国内互联网众筹的发展只能“摸着石头过河”。不健全的商业模式、不成熟的运作机制及不健全的市场环境等问题的存在,使大量互联网众筹平台在百花齐放中却只能昙花一现,被迫停业或转型,而各互联网众筹平台上发布的融资项目成功率普遍很低,作为项目发起人的小微企业融资问题没能得到明显改善。从互联网众筹各参与主体间的博弈关系出发研究互联网众筹的运作模式对互联网众筹未来的健康发展有积极的作用。本文在整理和分析现有研究的基础上梳理了互联网众筹中各参与主体之间的博弈关系,并选择以互联网众筹平台和项目发起人之间的合作冲突为研究切入点,运用演化博弈理论的分析方法,构建互联网众筹模式下互联网众筹平台与项目发起人策略行为的演化博弈模型,对各方分别建立复制动态方程进行了稳定性分析,并通过数值仿真探求影响互联网众筹平台与项目发起人博弈均衡的关键因素。研究表明:项目发起人的融资需求量,互联网众筹平台收取的服务费率,互联网众筹平台提供高服务的效率,互联网众筹平台提供高服务的机会成本以及政府对互联网众筹行业的监管程度是影响博弈均衡的关键因素。针对研究结果,本文对互联网众筹平台如何运作转型提出了一些建设性意见。本文从互联网众筹平台与项目发起人的合作博弈行为视角思考了影响互联网众筹平台运作模式的关键因素,在研究选题和研究方法上有所创新,拓宽了互联网众筹的研究思路,具有一定的理论价值。同时本文根据研究结论对互联网众筹平台如何运作转型提出了一些建设性意见,对互联网众筹发展具有一定的指导作用。
[Abstract]:Crowdfunding is simply raising idle social funds from the general public for a particular social activity or productive labour.With the rapid development of Internet technology and the arrival of the era of self-media, crowdfunding has realized the Internet and formally stepped onto the stage of financial financing.Internet crowdfunding is efficient and convenient. The characteristics of low entry threshold for financing demanders have a high degree of agreement with the small and micro enterprises which have been puzzling and financing problems in our country. In recent years, it has been developing rapidly in our country.However, because the mode of Internet crowdfunding is in the early stage of development both at home and abroad, the experience gained from foreign mature Internet crowdfunding platforms is limited, so the development of domestic Internet crowdfunding can only "touch the stone and cross the river".The existence of unsound business models, immature operating mechanisms and imperfect market environments has made a large number of Internet crowdfunding platforms ephemeral and forced to close down or transform.However, the success rate of financing projects published on various Internet crowdfunding platforms is generally very low, and the financing problems of small and micro enterprises, as project sponsors, have not been significantly improved.Starting from the game relationship among the participants of Internet crowdfunding, the study of the operation mode of Internet crowdfunding has a positive effect on the healthy development of Internet crowdfunding in the future.On the basis of sorting out and analyzing the existing research, this paper combs the game relationship among the participants in the Internet crowdfunding, and chooses the cooperative conflict between the Internet crowdfunding platform and the project sponsors as the starting point.Based on the evolutionary game theory, the evolutionary game model between the Internet crowdfunding platform and the project sponsors' strategic behavior is constructed, and the stability of the replicating dynamic equations is analyzed.The key factors influencing the game equilibrium between the Internet crowdfunding platform and the project sponsors are explored by numerical simulation.The research shows that the financing demand of the project sponsors, the service rates charged by the Internet crowdfunding platform, and the efficiency of the Internet crowdfunding platform in providing high service,The high opportunity cost of the Internet crowdfunding platform and the degree of government supervision over the Internet crowdfunding industry are the key factors affecting the game equilibrium.In view of the research results, this paper puts forward some constructive suggestions on how to operate and transform the Internet crowdfunding platform.From the perspective of cooperative game behavior between Internet crowdfunding platform and project sponsors, this paper considers the key factors that affect the operation mode of Internet crowdfunding platform, innovates in research topics and research methods, and broadens the research ideas of Internet crowdfunding.It has certain theoretical value.At the same time, this paper puts forward some constructive suggestions on how to operate and transform the Internet crowdfunding platform according to the conclusion of the research, which has a certain guiding effect on the development of Internet crowdfunding.
【学位授予单位】：中国科学技术大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F224.32;F724.6;F832

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