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The Research On The Influencing Factors Of Crowdfunding Investors' Funding Intention In China

Posted on:2018-05-03Degree:MasterType:Thesis
Country:ChinaCandidate:W Q FengFull Text:PDF
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In recent years,the rise of e-commerce has made the micro-entrepreneurship prevalent,while the micro-enterprises with respect to the traditional large-scaled enterprises and intermediate enterprises also facing the difficult of financing problems.Therefore,the general publics in order to carry out small amounts of money raised by crowdfunding platform development rapidly.However,crowdfunding industries are just as the worldwide emerging industries,and the concept of the crowdfunding in China is not yet fully matured.Also,the publics are quite limited about the concept of crowdfunding too.Facing with fierce competition in the global fundraising industry,the entrepreneurs must be facing about how to stand out from many projects will also be a major topic for the crowdfunding model users.Therefore,in order to adopt this new model rationally,to solve the financing difficulties for small and medium sized enterprises,further study of influential factors of the investors intention has profound theoretical and practical significance.Firstly,this article expounds the theoretical basis of the crowdfunding financing concepts and social exchange theory.Then it analyzes the factors affecting crowdfunding investors' funding intention.According to the theoretical analysis combined with the actual situation of crowdfunding in China,the article formulates 9 hypotheses and variables,constructing the study model,and then design the questionnaire.On the basis of a large number of domestic and foreign literatures and questionnaires,questionnaire items were then developed and made available for respondents,who are crowdfunding platform users from three chinese crowdfunding platform,to fill out.Valid survey data from 243 crowdfunding platform users were obtained.Meanwhile,this paper adopted SPSS20.0&SmatPLS for data analysis as well as for validity and reliability tests to further verify the hypotheses of this study.The results show that perceived benefits,trust and perceived risk affect investor's funding intentions.In terms of perceived benefits,both external feedback and internal satisfaction have a positive impact on investor's funding intentions by acting on perceived benefits;for trust,communication and shared value have a positive impact on investor's funding intentions through trust;for perceived risk,perceived innovation has a positive impact on user's investing intentions through perceived risk while involvement does not have a significant impact on perceived risk,so it will not affect funding intention.Ultimately,based on the results of the study,this paper made some recommendations from two aspects of crowdfunding platform administrator and fundraiser who use crowdfunding model to raise the crowdfunding investors' funding intention in China.
Keywords/Search Tags:Crowdfunding, Funding intention, Impact factor
PDF Full Text Request
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