Risk And Regulatory Research Of Crowdfunding

Equity crowdfunding is a new financing mode of rapid development in recent years.It can meet the new demand,is an innovation of equity financing,but also implies a new risk,bring new problems.The object of this study is to raise equity crowdfunding risk and supervision.First of all,we analyze the operation mode and business mode of equity crowdfunding in China,and points out that the irrationality of business mode has affected the development of equity crowdfunding,such as legal risk,credit risk,mode innovation risk and exit risk,whose potential danger are illustrating through case study.Equity crowdfunding has bring a certain impact on China's financial system,mainly in the financial market stability,the impact of traditional financial intermediaries and business models.Furthermore,we discusses the current situation of domestic and foreign equity ownership policy,and points out the insufficiency and existing problems of China's regulatory policy,comparing with the more perfect policy of the United States.Finally,based on the analysis of the risk and supervision policy of equity,we draws lessons from the existing regulatory system in the United States and puts forward some suggestions on how to improve the supervision system,the rules design and the risk management from the perspective of risk management.In terms of policy and supervision,we argue that we should start from preventing the risk of illegal fund raising,implementing the project audit system and working around the ground.In addition,from the perspective of reducing information asymmetry,we put forward some suggestion on the design of the rules of equity crowdfuning.Completion of these studies enrich the theory of participants' behavior and strategy of equity crowdfunding,which also provides practical and meaningful suggestions for practice operation,making it better service for small and micro enterprises and to promote the development of the real economy in our country.