A Research On The Factors Of Financing On The Equity Crowdfunding Platform In China

As a new force in current Internet Financial Times,Equity Crowdfunding is a new approach for the huge amount of private capital to participate in social development and construction,to solve the financing difficulties of small and micro enterprises and other practical problems which has practical value.However,in our country,equity crowdfunding financing is still in its infancy,due to the development of the legal system is not perfect and the relevant technology is not in place restricting the development of equity crowdfunding.And also it's difficult for small and micro enterprises financing through equity crowdfunding successfully.Therefore,this article will use the results of equity crowdfunding platform--choudao.com as a sample to research the impact on the financing of equity crowdfunding in a more detailed,and got some inspiration.Firstly,this article introduced the operations of choudao.com,the process of equity crowdfunding project financing and do some basical descriptive statistics,highlighting how typical and representative the case is.Subsequently,in the case study,this article analyzed the project external environment and internal design to study the factors of equity crowdfunding financing.The external factors including industry policies on the regulation and macro stock market volatility.The policy enacted and the trade of the choudao.com's development were comparative analyzed and found that the support of policy promote the development of the choudao.com.Also this article used the secondary market transactions which affect the financing of equity crowdfunding and found that stock market volatility has a negative impact on the equity crowdfunding financing.Through empirical study of internal factors,the paper found that the core of the empirical number of members,the project has revenue or profit,project visits,project consulting and project attention Q times have a positive impact on equity crowdfunding subscribe success,and business valuation,up to sell shares have a negative effect.Simultaneously,this article applied the above results,built three-dimensional evaluation model,and combined with expert score,created the capacity assessment indicators to make a preliminary assessment about preheat project potential financing ability.And the assessment results are consistent with the results of impact analysis.Finally,the above-mentioned case presentation and case analysis,we get a different case and a number of policy recommendations on legal system of macro,platform to build and microscopic aspects of project design.