Research On The Development Model Of Shanghai Equity-based Crowd-funding

With the outbreak of the financial crisis in 2008,leading to the downturn of global economic,lacking financing channels for small and micro enterprises,they is difficult to obtain financing,but equity-based crowd-funding provides a new financing mode for small and micro enterprises,this mode is efficient,convenient and lower cost to the financing threshold,broaden the financing channels for small and micro enterprises,equity-based crowd-funding has become the hot topic of the Internet financial.This paper focuses on the analysis of the equity-based crowd-funding development mode in Shanghai,puts forward some suggestions for the problems in the development process of the equity-based crowd-funding industry in Shanghai,and sums up the development model of the equity-based crowd-funding in Shanghai.Firstly,this paper gives a detailed description of the development of the whole country equity-based crowd-funding,based on the understanding of the present situation,analysis of the problems in the development process.Comparing the development of the whole country equity-based crowd-funding,to raise equity-based crowd-funding development status in Shanghai,found problems in Shanghai equity-based crowd-funding development process,mainly divided into three parts: the problem of policies and regulations,the supervision of risk and equity-based crowd-funding platform mode of operation.Secondly,through the analysis of these three problems,the problem is solved by means of comparison and mathematical modeling.In terms of policies,regulations and risk supervision,reference policies,regulations and related regulations at home and abroad,provide solutions in Shanghai equity-based crowd-funding policy and regulations issues.In terms of platform model,this paper study the relationship between investment mechanism of “lead investor + cast investor” and the financing success of the project by the logit model,and finally come to the conclusion that the lead investor who can improve the equity-based crowd-funding platform project success probability.Then,base on investment mechanism,influence of the project information indicators to project financing performance by a further investigation in this regression model,and concludes that the financing goal and the amount of lead investment has a positive impact on the project financing efficient,the goal is higher,the higher the amount of lead investment,project financing success more easily.Then based on the analysis and solution of problems,this paper proposes suggestions and specific measures to raise the Shanghai equity-based crowd-funding development: policies and regulations,Shanghai government should be clear about the specific boundary of Shanghai equity-based crowd-funding regulation and shouldsimplify procedures and offer benefit;risk supervision,government should establish the investor protection mechanism,platform access mechanism and information disclosure mechanism;mode innovation,put forward to equity-based crowd-funding combined with the Shanghai equity trusteeship center,build the Shanghai vertical equity-based crowd-funding in subdivision industry and raised platform innovation.Finally,through the above discussion,we summed that development pattern of Shanghai equity-based crowd-funding,Shanghai government led to develop equity-based crowd-funding,create a based environment,equity-based crowd-funding platform develop equity investment model and its innovation mechanism,and Shanghai equity trusteeship center and the platform cooperation,mutual reciprocity and mutual benefit.