The Case Study Of Jingdong Crowd-funding Risks

With the advent of big data era,financial innovation is emerging and changing the business models of traditional financial industries,such as third-party payment of P2 P loans,the emergence of crowd-funding platforms to usher in a period of rapid development of Internet finance.In the first half of 2016,With the comprehensive development of the special renovation of Internet finance and the introduction of the government supporting policy design,the development of crowd-funding industry has gradually stabilized.According to the current situation of crowd-funding industry in China,the development of product crowd-funding and stock crowd-funding has been studied.In the future,we will continue to explore the problems existing in crowd-funding industry and related policy constraints,in order to find a better way to promote the healthy development of the industry.JingDong's crowd-funding platform includes not only product crowd-funding,equity crowd-funding and ecological integration of crowd-funding,As the representative crowd-funding platform has occupied most of the market of crowd funding industry,this paper takes JingDong crowd funding platform as the entry point to analyze the risk of crowd funding model has certain research value.In the second chapter,the development status of JingDong crowd funding platform is summarized in detail,and the comparative analysis of three major commercial crowd funding industry giants,JingDong crowd funding,Taobao crowd funding,JingDong crowd funding,is carried out.Compare its operational capability,information disclosure,risk and compliance.Then summarize the current situation of product crowd funding,owner wealth and ecologicality from the whole industry.This paper introduces the operation mode and typical projects of JingDong crowd funding platform from four aspects: investment risk of investors,financing risk of promoters,risk of JingDong crowd funding platform and government supervision.The outstanding investors lack the ability of risk identification and prevention,the risk of asymmetric information,the single exit mechanism of the sponsors,the risk of intellectual property and equity pricing,the risk that the crowd funding platform itself may go bankrupt and run.The information protection of investors and fund raisers is weak and the disclosure of project information is not comprehensive.Finally,from the level of government supervision,our country lacks the laws and regulations of crowd funding,the subject of supervision is not clear and the creditsystem is not comprehensive.At the end of the paper,based on the analysis of the causes of JingDong's crowd funding,the author puts forward the corresponding countermeasures and revelations on the risk prevention and control of JingDong crowd funding.The author thinks that investors should improve their ability of risk identification and prevention.Reasonable evaluation and investment of crowd funding projects;strict observance of careful selection by sponsors and maintenance of investors' establishment of their investor exit mechanism;JingDong's crowd funding platform should strengthen its own crowd funding investors,The government should perform its duties of supervision better,begin to establish a sound mode of crowd funding in China from perfecting the relevant legal norms of crowd funding and establishing a sound credit system.Finally,the paper expounds the revelation of risk prevention and control of crowd funding industry to strengthen the internal and external supervision of crowd funding and explore the road of future public offering.The research in this paper will make a good and healthy development of JingDong's crowd funding platform and other Chinese crowd funding platforms in the future.The exhibition provides some reference.