The Research Of Credit Risk Identification And Management Mechanism Of Crowdfunding Based On Grounded Theory

On the basis of clarifying the operation process of crowdfunding,this paper takes the product crowdfunding as the research object,analyzes the influencing factors of crowdfunding credit risk by taking root theory,and forms a model of crowdfunding credit risk and its relationship structure.Taking taobao crowdfunding as an example,this paper compares and analyzes the credit risk control status of crowdfunding platforms and puts forward some Suggestions on the construction and improvement of the credit risk management system of crowdfunding financing.This paper argues that there are three key control points for Crowdfunding credit risk,that is whether the project application is approved by the platform,the project is successfully financed,and whether the project has fulfilled the promise return.The three key control points are related to the crowd raising platform,and the probability of potential credit risk is increasing with the crowd raising process.It is found that the credit risk of public financing comes from investors,project parties and platforms,with 10 sources of risk.The risk of investors is the source of risk awareness;project risk source is the subjective motivation,creativity,project funds,market prospects and operational capabilities,summarized as the basic project risk;risk source is the party platform profit model,audit,information display and project tracking,summed up the platform operation risk.This paper argues that the current Crowdfunding platform does not fully control the risk points of credit risk,and it can improve the credit risk management system of public financing from the platform itself optimization and strengthening laws and regulations.The optimization of the Crowdfunding platform is based on defining its profit mode and maintaining its due prudence in the way of auditing,information presentation and project tracking,so as to avoid the accumulation of credit risk.In terms of law and regulation,we should clarify the legality of crowd raising financing,integrate the public financing platform into the financial industry management,and establish the necessary cost sharing mechanism,so as to promote the standardized development of the industry.