Research On The Influencing Factors Of Financing Achievement Of Crowdfunding

Along with the development of technology and the rapid growth of Internet Finance, the crowdfunding, as an emerging financing mode, has entered into public view and received widespread attention. As an innovative internet financial model with vigorous developing trend, crowdfunding is becoming a shortcut which solves the difficulties in financing of small and medium-sized enterprise and entrepreneurship that want to undergone new product development. By establishing a direct bridge between the demand for funds and funds provider, crowdfunding financing can promote capital circulation, so as to help the start-up phase project to obtain funds and eventually succeeded.The paper mainly researches the influence factors of the financing achievement of the crowdfunding project, in order to instruct entrepreneur and new product research and development group in enterprise to initiate a crowdfunding project more effectively, raising the financing achievement of crowdfunding project, meanwhile, play a decision-making function in project screening of crowdfunding financing website to increase the website earnings. The paper firstly analyze the related researches of the crowdfunding models in domestic and overseas and expound the basic theories which used by investors to choose the projects. Then designate the influence factors from three dimensions which are project quality, investor participating and crowdfunding platform and suggest the hypothesis according to the theory. Later on, collect relevant data from the crowdfunding platform, “Demo hour”, use SPSS12.0 and STATA12.0 as analysis tools, and verify the related hypothesis under empirical analysis which based on the methods of multiple regression, truncated regression and hierarchical regression. Finally, the conclusion is made after data analysis: the target financing amount of crowdfunding projects and amount of project comments have negative correlation with the achievement of crowdfunding, whereas amount of project announcements, amount of project supporter and the amount of fans in the crowdfunding platform of the project sponsor have positive correlation with the achievement of crowdfunding, and also the target financing amount of crowdfunding project plays a negative role in the impact of the number of project announcements on the financing achievement of the project. Ultimately, the paper provides three main participants in crowdfunding project with relevant development proposals on the basis of empirical study.