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Research On The Current Situation Of Public Financing Of Small And Micro Stadiums And Gymnasiums In China

Posted on:2020-02-28Degree:MasterType:Thesis
Country:ChinaCandidate:D J HeFull Text:PDF
GTID:2417330599452576Subject:Social sports guidance
Abstract/Summary:PDF Full Text Request
Stadiums and gymnasiums are the important material basis and carrier for the development of sports industry.With the promotion of the reform of sports venues and institutions in China,under the background of marketization of sports venues,which have long relied on financial support,the first thing is to solve the problem of funds.China's small and micro stadiums and gymnasiums equity crowdsourcing refers to small and micro stadiums and gymnasiums enterprises through online equity crowdsourcing platform or offline form of small equity financing activities.The small and micro stadiums' equity crowdsourcing financing mode is a new thing in the field of stadiums' investment and financing in China.It is necessary to analyze the current situation of the development of the small and micro stadiums' equity crowdsourcing financing mode in China.This paper adopts the methods of literature research,investigation research and expert interview.Five small and micro stadiums are selected for the case study,which includes scale and site acquisition,investment and return,investment and financing motivation,operation mode and status,crowdsourcing form,exit mechanism and so on.Based on the basic principles of the equity crowdsourcing financing model,this paper studies the status quo of the equity crowdsourcing financing model of small and micro stadiums in China.The research shows that there are two kinds of operation modes of minority stadiums' equity crowdsourcing in China.The first one is online equity crowdsourcing based on third-party equity crowdsourcing platform,which consists of investors,project sponsors,equity crowdsourcing platform and stadiums' equity crowdsourcing project.The second one is based on social media or offline community,which includes investors,project sponsors and small stadiums.The process of online equity crowdsourcing financing mode for small and micro stadiums in China is relatively fixed and standardized.The general business processes are project submission,project docking,project contract signing,post-investment management and investors withdrawal.At present,there is no standardized process for offline stadium equity crowdsourcing financing mode,which is generally spontaneously organized by project sponsors and investors in social media or other offline forms.Operational risks of public financing mode of small and micro stadiums in China are as follows:from the perspective of platform operators,legal risks,fund storage risks,reputationrisks,from the perspective of financiers,risks of illegal issuance of stocks,risks of leakage of commercial secrets,risks of infringement of intellectual property rights,risks of over-valuation of projects,moral risks of investors and risks of ownership of shares.Post-investment risk management.The main factors that restrict the development of public financing mode of small and micro stadiums in China include:legal and policy dilemma,land dilemma,credit system dilemma,financial supervision dilemma.In the future,the development trend of minority stadiums and gymnasiums' equity crowdsourcing financing mode in China will be reflected in: the relevant laws and regulations will be improved,the operation of stadiums and gymnasiums' equity crowdsourcing will be O2 O,the platform of equity crowdsourcing will be ecologized and specialized,and the mechanism of stadiums and gymnasiums' equity crowdsourcing returns will be diversified.
Keywords/Search Tags:Miniature stadiums and gymnasiums, equity crowdsourcing, investment and financing, mode
PDF Full Text Request
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