The Empirical Study On The Factors Affecting The Completion Rate Of Equity Crowdfunding

In recent years,with the rapid development of Internet technology,Internet finance gradually shows its potential ability of development advantage,which has a profound impact on our lives and work.Especially under China's current macro-financial environment,equity-cased crowdfunding,as the result of the financial innovation development,helps the small micro-enterprises to quickly obtain funds.Compared to traditional financing model,equity-cased crowdfunding is more effective to broaden the existing financing for enterprises,especially for those in the initial stage.However,equity-cased crowdfunding is a new product in our country after all.With a short history,there are still many problems in its development process.It is not easy for those small enterprises who want to raise funds through equity-cased crowdfunding.Even for a vast majority of financing projects with development potential,they announced failure in the half way because the project cannot raise the expected funds.According to statistics,among all the national equity-cased crowdfunding in 2015,only 40% could be able to raise funds successfully.Therefore,the analysis and study of the factors that affect the success of equity projects will effectively help the equity investors to improve the rate of successful financing.Furthermore,it can promote the healthy development of equity industry effectively.This thesis is composed of five chapters.The first chapter introduces the background,purpose and significance of equity-cased crowdfunding.It analyzes and summarizes the relevant factors that affect the success of equity-cased crowdfunding.Meanwhile,it proposes the important direction of this research is that an analysis of the factors affecting the success of equity projects.The second chapter introduces the relevant theory of equity-cased crowdfunding,including its origin and development,concept and specific,classification,operation process and advantages.The third chapter introduces the current development status of the domestic crowdfunding industry and analyzes Ren Ren Tou's business of equity-cased crowdfunding.The fourth chapter studies the hypothesis model.Corresponding assumptions have been put forward based on relevant data of Ren Ren Tou's crowdfunding platform and corresponding analysis model has been established.Then software has been used to do relevant analysis and regression analysis to the model to verify whether the assumption is true or not.Chapter five provides the discussion of the results and the prospects for it.Based on the empirical analysis of Ren Ren Tou's data platform,this thesis explores the relevant impact that guarantee value,the scale and turnover ability of the project,its development and influence,its location and project person's gender have on equity-cased crowdfunding.The study of this thesis has found that the influence and growth of the project have the greatest influence on the crowdfunding.It provides a reference for the enterprises to improve the success of the equity-cased crowdfunding in the future.