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Research On Factors Influencing Financing Performance Of Agricultural Of Crowdfunding Projects

Posted on:2021-01-05Degree:MasterType:Thesis
Country:ChinaCandidate:R X CaiFull Text:PDF
GTID:2439330623469868Subject:Finance
Abstract/Summary:PDF Full Text Request
In the current financial market environment,the financing threshold of traditional financial institutions is relatively high.At the same time,due to the small scale of operation,the weak capital chain and the particularity of the agricultural products,small and medium-sized micro agricultural enterprises have always been a vulnerable group in the financing market.As an organic combination of crowdfunding business model and agricultural economy,agricultural crowdfunding not only opens up a new financing channel for small and medium-sized agricultural enterprises,but also innovates the product marketing path of agricultural enterprises,which plays an important role in stimulating the vitality of agricultural capital,promoting the development of agricultural modernization and promoting social employment.The development of agricultural crowdfunding in China is relatively short.Due to the virtual nature of Internet financing,there is a certain degree of information asymmetry between investors and funders,resulting in the small scale of agricultural crowdfunding project financing and poor financing effect.However,the effect of agricultural crowdfunding is the most concerned core issue of small and medium-sized agricultural enterprises,this paper deeply studies the main factors influencing the effect of agriculture.Based on the theory of customer transfer value,signal theory and 4p-4c theory,combined with the domestic and foreign literature research on the effect of agricultural crowdfunding,this paper constructs the concept model of influencing factors of agricultural crowdfunding performance from six dimensions--product value,personnel value,monetary cost,project information,selects the successful agricultural crowdfunding projects in JD crowdfunding as the research object,and uses multiple regression analysis method to carry out empirical research on the sample data of agricultural crowdfunding.Finanlly based on the results of empirical analysis,this paper puts forward suggestions to improve the financing performance of agricultural crowdfunding projects.Through empirical analysis,the following conclusions are drawn: the number of agricultural product qualification certificates and agricultural product stories have a positive impact on the financing performance of agricultural crowdfunding projects;the story and experience of sponsors have a positive but not significant impact on the financing performance of agricultural crowdfunding projects;the number of concerns has a negative and significant impact on the financing performance of agricultural crowdfunding projects;the number of comments has a positive impact on the financing performance of agricultural crowdfunding projects but not significant;financing target and minimum target financing amount have a significant impact on the financing performance of agricultural crowdfunding projects;different types of projects information has different effects on the financing performance of agricultural crowdfunding projects;promotion has a significant positive impact on the financing performance of agricultural crowdfunding projects,and has a greater impact on the financing completion rate of agricultural crowdfunding projects in underdeveloped areas.The number of product qualification certificates,the story of agricultural products,the story of promoters,the experience of sponsors,the financingtarget,minimum target financing amount,pictures,the description of project progress,the financing level of the project and promotion behavior have a certain enhancement effect on the financing performance of the agricultural crowdfunding project due to the intermediary role of the investment behavior of supporters.The number of comments,the number of concerns and video has a certain weakening effect on the financing performance of the agricultural crowdfunding project due to the intermediary role of supporters' investment behavior.According to the research results,combined with the current situation of agricultural crowdfunding development in China,this paper puts forward corresponding policy suggestions from the perspective of project funders,crowdfunding websites and the government: improve the quality of crowdfunding products,optimize the value of agricultural crowdfunding projects;improve the transparency of information,expand the strength of project information dissemination;strengthen the construction of crowdfunding platform,optimize professional services of the platform;increase government support and improve crowdfunding laws and regulations.
Keywords/Search Tags:Agricultural Crowdfunding, Funding Performance, Customer Delivery Value theory, Signal Theory, 4P-4C Theory
PDF Full Text Request
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