Research On The Influencing Factors Of Financing Effect Of Internet Financial Reward-based Crowdfunding Project

In recent years,as a kind of innovative internet finance model,crowdfunding has achieved rapid development in China and has also attracted attention from many parties.In all kinds of crowdfunding models,reward-based crowdfunding is the earliest crowdfunding model that has emerged in China and has become one of the most important crowdfunding models in China.Reward-based crowdfunding has the characteristics of low financing threshold,less restriction,wide audience,and more convenient,and it provides a new way to support innovation,entrepreneurship and solve the financing difficulties of small and medium-sized enterprises in our country.Through empirical analysis,this paper mainly studies the influencing factors of the financing effect of reward-based crowdfunding project and how these factors affect the financing effect.The research in this paper aims to better guide fundraiser to carry out crowdfunding more effectively and improve the financing success rate of reward-based crowdfunding project.At the same time,it is hoped that the research in this paper will further enrich the crowdfunding knowledge system and provide some reference for promoting the development of the crowdfunding industry.First of all,this paper sorts out and summarizes the crowdfunding literature and crowdfunding research results both at home and abroad,and explains the theoretical basis of the research in this paper.Then,the influencing factors were selected from the three dimensions of fundraiser,investor,and crowdfunding platform,and hypotheses were put forward based on theoretical analysis.Next,this paper takes Taobao crowdfunding as the research object,collects the relevant data from it,uses the multiple regression method to verify the hypothesis proposed in the previous article,analyzes the regression data,and draws relevant conclusions.The results show that the target fundraising amount,the number of comments on the project have a negative correlation with the financing effect of reward-based crowdfunding project.The number of historical successful fundraising,the number of project progress announcements,the number of project supporters,video introduction have a positive correlation with the financing effect of reward-based crowdfunding project.The type of project has an impact on the financing effect of reward-based crowdfunding project.Of all the influencing factors,the target fundraising amount is the most influential factor.Among the three activity entities,the financing effect is mainly controlled by the fundraiser's influence.Finally,based on the research conclusions,this paper gives some relevant suggestions and countermeasures to the three participants of reward-based crowdfunding financing activities and relatedmanagement departments.