中小企业众筹融资方式的应用研究
发布时间:2018-06-06 11:21
本文选题:中小企业融资 + 回报众筹 ; 参考:《长安大学》2017年硕士论文
【摘要】:在总理“大众创业,万众创新”的号召下,我国中小企业的数量越来越多,但是我国中小企业一直存在融资难、融资贵的发展困境。众筹作为一种新兴的融资方式,随着互联网的发展而出现,可以帮助中小企业实现创新项目。众筹融资方式可以通过解决信息不对称的困境、降低融资门槛、提高融资效率和降低融资成本等方式解决中小企业目前的融资困境。目前的众筹方式主要包括回报众筹、互联网非公开股权众筹、物权众筹和公益众筹,从众筹行业在我国的发展情况来看,以回报众筹和互联网非公开股权众筹应用最为广泛。针对目前中小企业在应用众筹融资方式过程中项目融资成功率不高的现状,论文通过案例分析的方法,探究成功企业在应用众筹方式时的决策依据和具体做法,为企业提高项目融资成功率提供参考依据。论文首先从目前中小企业的主流融资方式和融资问题入手,对中小企业融资现状进行分析,在此基础上引入众筹融资这一方式,阐述众筹融资方式对中小企业的可行性;其次,通过分析众筹融资方式在我国的应用现状,指出这种方式虽然发展很快,但是存在融资成功率不高的问题;再次,针对回报众筹和互联网非公开股权众筹这两种主要的融资类型的应用,论文以“牛电科技”和“凹凸共享租车”为例,通过案例分析的方法,探究其众筹融资中企业的决策依据与具体做法,并指出部分优化建议;最后,以案例分析的结果为标杆,具体给出对其他中小企业的建议,从中小企业内部管理的角度提高项目融资的成功率,将众筹融资方式对解决中小企业融资困难的作用落到实处。论文研究表明:(1)众筹融资对中小企业来说是一种有效的融资方式,可以在解决信息不对称的困境、降低融资门槛、提高融资效率、降低融资成本等方面发挥作用;(2)中小企业在应用众筹融资方式时,可以从以下几个方面进行管理:根据企业的融资目的选择众筹类型,根据企业所处行业选择融资平台,设定合理的融资目标和融资期限,并注意保持最佳的资本结构,在众筹过程中注意设置差异化的回报层次以满足不同投资人的能力和要求,最后应当做好持续的信息披露和风险管理工作。
[Abstract]:Under the Prime Minister's call of "mass entrepreneurship and innovation", the number of small and medium-sized enterprises in our country is more and more. However, there are always difficulties in financing and expensive financing for SMEs in our country. As a new financing method, crowdfunding can help small and medium-sized enterprises to realize innovative projects with the development of Internet. Crowdfunding can solve the financing dilemma of SMEs by solving the dilemma of information asymmetry, lowering the threshold of financing, improving the efficiency of financing and reducing the financing cost. At present, the way of crowdfunding mainly includes return crowdfunding, Internet private equity crowdfunding, real rights crowdfunding and public crowdfunding. According to the development of crowdfunding industry in our country, the most widely used is to return crowdfunding and Internet private equity crowdfunding. In view of the fact that the success rate of project financing is not high in the process of applying crowdfunding, this paper explores the decision basis and concrete methods of successful enterprises in the application of crowdfunding through case analysis. To improve the success rate of project financing for enterprises to provide a reference basis. Firstly, this paper starts with the mainstream financing methods and financing problems of SMEs, analyzes the current financing situation of SMEs, and then introduces crowdfunding to explain the feasibility of crowdfunding for SMEs. By analyzing the current situation of the application of crowdfunding in China, it is pointed out that although this method has developed rapidly, there is a problem that the success rate of financing is not high. Thirdly, Aiming at the application of return crowdfunding and Internet private equity crowdfunding, this paper takes "Niudian Technology" and "Convexity shared car Rental" as examples, through the method of case study. This paper explores the decision basis and specific practices of the enterprises in their crowdfunding, and points out some optimization suggestions. Finally, taking the results of the case analysis as a benchmark, the paper gives the specific suggestions to other small and medium-sized enterprises. In order to improve the success rate of project financing from the angle of internal management of small and medium-sized enterprises, this paper puts into practice the role of crowdfunding in solving the financing difficulties of small and medium-sized enterprises. The research shows that crowdfunding is an effective financing method for small and medium-sized enterprises. It can solve the problem of information asymmetry, lower the threshold of financing, and improve the efficiency of financing. In the application of crowdfunding, small and medium-sized enterprises can manage from the following aspects: selecting crowdfunding types according to the financing purposes of the enterprises, and choosing financing platforms according to the industries in which the enterprises are located. Set reasonable financing objectives and financing periods, and pay attention to maintaining the optimal capital structure, and pay attention to setting different levels of return in the crowdfunding process to meet the capabilities and requirements of different investors, Finally, we should do a good job of continuous information disclosure and risk management.
【学位授予单位】:长安大学
【学位级别】:硕士
【学位授予年份】:2017
【分类号】:F724.6;F832.4
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