【作者】 王斌；

【导师】 向晖；

【作者基本信息】 湖南师范大学 ， 企业管理， 2017， 硕士

【摘要】 众筹模式是一种依托互联网面向大众筹集资金的筹资模式,自世界上最大众筹平台“Kickstarter”[1]2009年成立以来,互联网众筹已经发展了近八年,我国第一家众筹平台“点名时间”于2011年正式运营,至今也已发展近六年。互联网众筹模式创新了融资方式,具有“低门槛、方便、不受地域限制等”特征,有效缓解了中小企业融资难的问题,同时也是创业者进行筹资的不二选择。本文主要是对我国产品型众筹融资达成率影响因素进行研究,阐述了众筹融资市场中存在的羊群理论、社会资本理论以及信息不对称理论,通过分析这三大理论,概括出影响产品型众筹融资达成率的三大因素——羊群行为因素、社会资本因素、信息传递因素,并提炼出九个自变量,提出相应假设。本文采用描述性统计分析、相关性分析、回归分析检验上文提出的假设是否成立。其中羊群行为因素对融资达成率产生正向影响;社会资本因素中的话题数量以及项目发起人发起项目数量与融资达成率呈正向相关关系,而项目发起人支持项目数对融资达成率的影响不显著;信息传递因素中,目标金额对众筹融资达成率产生反向影响,有无视频以及项目进展更新数对融资达成率的影响不显著。此外,本文将京东众筹的2472个样本分行业类型进行了回归分析,分别对出版类、科技类、娱乐类与设计类四大行业的众筹融资达成率影响模型进行回归分析,最后本文基于BP神经网络建立预测模型,利用Matlab软件,通过提取样本数据80%进行训练、10%进行测试、10%进行预测的方式调整参数,最后发现含有三层隐含层的BP神经网络能有效进行产品型众筹融资达成率预测。更多还原

【Abstract】 The number of chips is a kind of fund-raising model that is based on the Internet for the public to raise funds.Since the establishment of the "Kickstarter" in the world since the establishment of the Internet,the Internet has been developed for nearly eight years.The entire platform "named time" in 2011,the official operation,has also been developed for nearly six years.Internet crowd-funding to innovate the financing,with "low threshold,convenient,not subject to geographical restrictions," the characteristics of effective mitigation of small and medium enterprises financing problems,but also the financing of entrepreneurs to choose the best choice.This paper mainly studies the influencing factors of the financing ratio of China’s product type,expounds the theory of herding,social capital theory and information asymmetry theory in the financing market,and analyzes the three theories,The three factors of financing ratio-herd behavior factors,social capital factors,information transfer factors,and extract nine independent variables,put forward the corresponding assumptions.In this paper,descriptive statistical analysis,correlation analysis,regression analysis of the product type of factors affecting the empirical analysis,test hypothesis is established.The number of topics in the social capital factors and the number of project sponsors initiated a positive correlation with the financing ratio,and the impact of the project sponsor support project on the financing ratio is not significant;the number of project sponsors has a positive impact on the financing ratio;In theinformation transmission factor,the target amount has a negative impact on the financing ratio,and the impact of the video and the number of the project progress on the financing ratio is not significant.In addition,based on the BP neural network to establish the prediction model,which is conducive to Matlab software,80% of the sample data by training,10% of the test,10% of the way to predict the adjustment parameters,and finally found that three layers of hidden layer of BP Neural network can effectively predict the forecast of product type financing ratio.更多还原