R公司股权众筹平台风险控制研究

发布时间：2018-01-03 12:14

本文关键词：R公司股权众筹平台风险控制研究　出处：《吉林财经大学》2017年硕士论文　论文类型：学位论文

【摘要】：股权众筹是互联网金融的一部分,它的出现为我国初创企业和中小型企业的融资提供了新渠道,它将传统股权投资进行平台化,利用互联网大数据、云技术等,完成项目融资。股权众筹具有融资速度快、效率高、成本低、风险高的特点,能够减小融资企业的财务杠杆,能够使具有投资意愿但资金不足以达到股权市场的大众参与股权投资中,有助于我国多层次资产市场的建立。2014年我国出台了《私募股权众筹融资管理办法(试行)(征求意见稿)》,2015年在十二届全国人大三次会议上提出“互联网+”行动计划,这些都标志着我国将正式对股权众筹行业进行规范化管理。本文以R公司股权众筹平台作为研究对象。R公司股权众筹平台采用“领投+跟投”模式,同时建立有限合伙公司,设立了“下轮K退”制度,在一定程度上降低了融资参与各方的风险。本文通过对平台金典案例分析,以及融资方、领投人和跟投人、股权众筹平台这四个角度分析,发现R公司股权众筹平台“领投+跟投”模式存在的风险,并从融资方,投资方,股权众筹平台以及监管四个层面,针对我国股权众筹行业特点,对跟投人与领投人提出理性投资、学习知识,对融资方提出完善退出机制、审慎选择投资人,对平台方提出法律制度与时俱进、建立健全征信体系、制定明确的监管规则等发展对策建议。本文研究发现,股权众筹平台除了自身进行风险控制外,离不开我国互联网金融大背景,需要我国相关法律法规、监管制度来规范,为股权众筹行业持续发展创造良好的健康发展环境。
[Abstract]:Crowdfunding is a part of Internet finance, which provides a new channel for the financing of start-ups and small and medium-sized enterprises in China. It makes traditional equity investment platform, using Internet big data, cloud technology and so on. Equity crowdfunding has the characteristics of fast financing, high efficiency, low cost and high risk, which can reduce the financial leverage of financing enterprises. The public who have the will to invest but the capital is not enough to reach the equity market can participate in the equity investment. In 2014, China issued the Private Equity financing Management measures (trial (draft)). In 2015, the third session of the 12 National people's Congress proposed the "Internet" action plan. All these indicate that our country will carry on the standardization management to the stock rights crowdfunding industry formally. This paper takes R company equity crowdfunding platform as the research object. The R company equity crowdfunding platform adopts the "lead cast with the investment" mode. At the same time, the establishment of a limited partnership, the establishment of the "next round K retreat" system, to a certain extent reduced the risk of financing participants. This paper through the platform gold case analysis, as well as the financing party, lead and follow the investors. Through the analysis of these four angles, we find the risk of "leading and investing" mode of R company's stock crowdfunding platform, and from the financing side, the investor, the equity crowdfunding platform and the supervision four levels. In view of the characteristics of China's stock rights crowdfunding industry, we put forward rational investment, learn knowledge, perfect exit mechanism for financing parties, carefully select investors, and put forward legal system to the platform side to keep pace with the times. Establish a sound credit system, formulate clear regulatory rules and other development countermeasures. This study found that, in addition to its own risk control platform, can not do without the background of China's Internet finance. It needs our country's relevant laws and regulations, the supervision system to standardize, creates the good healthy development environment for the stock rights crowdfunding industry sustainable development.
【学位授予单位】：吉林财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F49;F832.51

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