Empirical Study On Factors Influencing The Success Rate Of Equity Crowdfunding Projects

China introduced "Crowdfunding" development pattern in 2011,just six years from embryonic development to become ten million people took part in a new type of business,finance,marketing as one of the integrated project incubation.The emergence of crowdfunding makes the success rate of entrepreneurship rise while diversifying the risk of entrepreneurship,so that start-ups can get better development opportunities.Investors who participate in crowdfunding will have to go through a period of time to build trust.For those who don’t familiar with the project,equity valuations is a difficult process of "many things",most of all equity to raise premiums increased,before did not establish full of trust,people tend to hold cautious,wait-and-see attitude,only through project promotion,road show and other activities is difficult to build up investor confidence in the project.Therefore,which indicators are the key factors influencing the success rate of equity crowdfunding?How to attract more investors to participate in equity crowdfunding?What kind of equity crowdfunding project is worth investing?These problems are very concerned by the participants of the majority of equity crowdfunding,and it is of practical significance to study such issues.To study the influence factors of financing success rate of equity crowdfunding project,in the micro aspect,it is helpful for the project sponsor to attract more funds by adjusting the relevant variables index,so as to raise the success of crowdfunding.It can help project investors to identify the quality information of equity crowdfunding projects,and invest in merit-based investment to obtain considerable return on investment.In the macro aspect,there are the role of guiding small and medium-sized start-ups to obtain financing from non-traditional financing channels to enrich the national economy;It provides theoretical guidance for improving China’s capital market system and improving resource allocation.The purpose of this study is trying to build equity crowdfunding comprehensive model of success factors of project financing,analyzing various factors to the influence degree of the success rate of crowdfunding project financing,to crowdfunding industry and even the Internet financial stake in the future development of the industry and regulatory puts forward constructive Suggestions.This paper concludes that:(1)investment risk negatively affects the financing success rate of equity crowdfunding.(2)the leading indicators are positively affecting the financing success rate of equity crowdfunding.(3)the level of social participation is positively affecting the financing success rate of equity crowdfunding.According to the conclusions of this paper,the suggestions for the micro aspects of the equity crowdfunding industry are:(1)third-party evaluation institutions participating in the project valuation;(2)enhance mutual cooperation between platforms;(3)strengthening project information disclosure;(4)increase the channel for the introduction of equity crowdfunding.The suggestions for the macro aspects are:(1)exemption of equity crowdfunding;(2)establishing investor protection mechanism;(3)the implementation of financial supervision by third-party financial institutions.