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The Operation Mode's Research Of The Equity Crowdfunding Platform-Zhongtoubang

Posted on:2021-01-24Degree:MasterType:Thesis
Country:ChinaCandidate:Y M ZhouFull Text:PDF
Abstract/Summary:PDF Full Text Request
The equity crowdfunding method not only solves the financing problems of a large number of small and medium-sized enterprises in China,but also widens the investment channels of many small and medium-sized investors.The equity crowdfunding platform effectively realizes the docking of investment and financing parties.However,the development of equity crowdfunding in China is not long,and it is still in the exploratory stage of development,and the operation mode of the platform runs through the whole process,so the in-depth study of the operation mode has important practical significance for the development of equity crowdfunding.Based on the theory of information asymmetry and transaction cost,this paper takes the operation mode of " GP+LP " as a case study,expounds the definition,operation mode and risk of equity crowdfunding at home and abroad,and introduces the operation process and characteristics of the platform in detail.In the case analysis part,the advantages,operation effects and risks of the " GP+LP " operation mode of the public investment platform are followed,and then the advantages of widening channels,weakening information asymmetry,improving efficiency and dispersing risks are summarized,as well as the potential risks of over valuation,conflict of interest,post investment management and project exit.Finally,the paper summarizes the optimization countermeasures,such as reasonable project valuation procedures,standardization and improvement of the relevant leading investment mechanism,strengthening the post investment management process of the platform and the exit mechanism of innovative projects.I hope it can provide reference for other platforms in the same industry and promote the beneficial development of the whole industry.
Keywords/Search Tags:public investment state, equity crowdfunding, operation mode, GP+LP
PDF Full Text Request
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