Analysis Of Factors Affecting The Financing Achievement Rate Of Cultural And Creative Products Crowdfunding Projects

With the continuous in-depth development of the domestic market economy and the continuous optimization and upgrading of the industrial structure,content consumption has gradually become a new economic growth point,and the cultural industry has become increasingly prominent in the market.As a sunrise industry in the cultural industry structure,the cultural creative industry is still mostly small and medium-sized enterprises.However,for small and medium-sized cultural enterprises,financing difficulty is a difficult problem that restricts their development and cannot be ignored.Due to the industrial characteristics of “creative and light assets”,the cultural and creative industries make it difficult for small and medium-sized cultural and creative enterprises to obtain loans through traditional credit channels.Many high-quality cultural and creative projects cannot obtain the necessary start-up funds,which not only seriously affects cultural enterprises The development of its business has been hindered,which has severely affected the structural optimization of the cultural industry.In recent years,Internet finance has achieved increasing growth and improvement driven by the economic environment and technological progress.Crowdfunding has entered the financing market as an emerging model and has received widespread attention,which has opened up new space for small and medium-sized enterprises to resolve financing problems.However,not all small and medium-sized enterprises can obtain sufficient funds to carry out projects through crowdfunding.There are large differences in the financing achievement rate of projects with different characteristics.Therefore,it is necessary for us to further analyze the factors affecting the financing achievement rate of crowdfunding projects.It helps us to determine which characteristics of the project are likely to achieve a higher financing achievement rate,thereby helping SMEs to obtain more project funds,which has important practical guiding significance for alleviating the current financial pressure of SMEs.Based on the above background,this article collects crowdfunding project data from Modian.com as a research sample,and examines the influencing factors of crowdfunding project financing completion rate through empirical analysis.The research of this article can be divided into six parts.The first part mainly introduces the research background,research significance,literature review,research structure,research methods and innovation points of this article.The second part elaborates and sorts out related theories.The third part is an analysis of the current crowdfunding financing situation of my country's cultural industry.Analyze the reality of my country's cultural industry crowdfunding financing as a whole,and further analyze the limitations of my country's cultural crowdfunding product financing process.The fourth part is the research and design of the factors affecting the completion rate of crowdfunding project financing.This article analyzes the mechanism of its impact on the completion rate of crowdfunding project financing from the three aspects of project quality,sponsor characteristics and project uncertainty,and on this basis Propose corresponding research hypotheses.The fifth part is an empirical analysis of the factors affecting the completion rate of crowdfunding project financing.The model constructed in the previous part is used to empirically analyze the three research hypotheses proposed,and finally the key factors that affect the completion rate of crowdfunding project financing are obtained.The sixth part is the research conclusions and related suggestions.Through the relevant data collected by Modian.com,we applied empirical models to empirically analyze the three research hypotheses proposed,and finally obtained the key factors that affect the completion rate of crowdfunding project financing.First of all,the results of regression analysis show that the project target financing amount and the highest price of the project product have a significant positive impact on the financing achievement rate of crowdfunding projects,which indicates that the improvement of project quality will indeed significantly enhance the financing achievement rate of crowdfunding projects.Second,the results of regression analysis show that the number of fans of the project sponsor and the project sponsor is a platform-certified cultural enterprise have a significant positive impact on the completion rate of crowdfunding project financing,which indicates that the characteristics of the project sponsor will significantly affect the completion rate of crowdfunding project financing..Third,the results of regression analysis show that the number of project products and the number of project product updates have a significantly negative impact on the completion rate of crowdfunding project financing,which indicates that project uncertainty will significantly affect the completion rate of crowdfunding project financing.Finally,through the analysis of the heterogeneity of projects of different scales,we found that for larger projects,the characteristics of the project sponsor and the uncertainty of the project are more likely to determine the financing achievement rate of crowdfunding projects.For smaller projects,the quality of the project has a more obvious impact on the completion rate of crowdfunding project financing.