股权众筹是全民盛宴吗?
Is Equity-Based Crowdfunding a Feast of the Public?
DOI: 10.12677/FIN.2016.61001, PDF, HTML, XML, 下载: 2,597  浏览: 6,519 
作者: 聂 婧*, 鞠荣华*:中国农业大学经济管理学院,北京
关键词: 股权众筹众筹模式风险投资者保护;Equity-Based Crowd Funding Crowdfunding Model Risk Investor Protection
摘要:

股权众筹近年来在国内快速发展,但实质上是互联网 + 私募或半公募的性质。本文在探讨股权众筹模式面临的风险和问题的基础上,通过对国内外平台数据的统计分析,对股权众筹融资进行恰当的战略定位,认为初创企业本身具有高风险性,其股权众筹并不适合降低门槛向公众投资者融资,股权众筹一定程度能够缓解但难以解决初创企业融资难问题。

Equity-based crowdfunding develops rapidly in China, but it is still private or half public in nature. On the basis of the risks and problems that the equity-based crowdfunding is facing, the study tries to find an appropriate strategic positioning for equity-based crowdfunding through analyzing the data of crowdfunding platforms at home and abroad statistically. The study shows that equity-based crowdfunding is not suitable for a lower threshold and the public investors because start-ups usually have high risks. To solve the problem of financing, start-ups can’t rely solely on equity-based crowdfunding.

文章引用:聂婧, 鞠荣华. 股权众筹是全民盛宴吗?[J]. 金融, 2016, 6(1): 1-11. http://dx.doi.org/10.12677/FIN.2016.61001

参考文献

[1] Bradford, C.S. (2012) Crowdfunding and the Federal Securities Laws. Columbia Business Law Review, 1, 1-150.
[2] Mitra, D. (2012) The Role of Crowdfunding in Entrepreneurial Finance. Delhi Business Review, 2, 67-72.
[3] 中国人民银行金融研究所互联网金融研究小组. 股权众筹是资本市场多层次创新的需要[N]. 第一财经日报, A08, 2015-03-03.
[4] 邱勋, 陈月波. 股权众筹: 融资模式、价值与风险监管[J]. 新金融, 2014(9): 58-62.
[5] 周灿. 我国股权众筹运行风险的法律规制[J]. 财经科学, 2015(3): 14-21.
[6] 孙永祥. 我国股权众筹发展的思考与建议——从中美比较的角度[J]. 浙江社会科学, 2014(8): 146-151.
[7] 张雪琦. 股权众筹: 现状、风险及应对策略[J]. 互联网金融, 2015(3): 42-44.
[8] 杨东, 苏伦嘎. 股权众筹平台的运营模式及风险防范[J]. 国家检察官学院学报, 2014(4): 157-168.
[9] 杨东, 黄尹旭. 中国式股权众筹发展建议[J]. 中国金融, 2015(3): 63-66.
[10] 李湛威. 股权众筹平台运营模式比较与风控机制探讨[J]. 当代经济, 2015(5): 36-39.