本文關(guān)鍵詞：股權(quán)眾籌融資的法律風(fēng)險(xiǎn)及其規(guī)制　出處：《河北大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 股權(quán)眾籌 互聯(lián)網(wǎng)融資 法律風(fēng)險(xiǎn) 規(guī)制措施

【摘要】：股權(quán)眾籌融資是近幾年新興的融資模式面臨著不少的法律風(fēng)險(xiǎn),但同時(shí)對(duì)于小微初創(chuàng)企業(yè)來(lái)說(shuō),它有利于降低融資成本、提高融資效率,同時(shí)也拓寬了融資渠道。在股權(quán)眾籌融資中,涉及三對(duì)法律關(guān)系,分別是融資者與眾籌平臺(tái)、投資者與眾籌平臺(tái)、融資者與投資者,每一個(gè)主體在股權(quán)眾籌融資的活動(dòng)中又潛伏著針對(duì)性的風(fēng)險(xiǎn)。融資者可能涉嫌非法吸收公眾存款或者非法發(fā)行證券,甚至本企業(yè)知識(shí)產(chǎn)權(quán)被侵犯。投資者面臨自身掌握信息少,知情權(quán)容易被侵犯,可能受到欺詐,甚至在項(xiàng)目失敗的時(shí)候難以退出的風(fēng)險(xiǎn)。股權(quán)眾籌融資平臺(tái)面臨權(quán)利義務(wù)模糊、信息披露不足、資金管理不嚴(yán)格的風(fēng)險(xiǎn)。放眼國(guó)外,美國(guó)、英國(guó)、意大利在股權(quán)眾籌融資方面已經(jīng)有了豐富的實(shí)踐經(jīng)驗(yàn),通過(guò)對(duì)融資者設(shè)定嚴(yán)格資格和義務(wù),適當(dāng)教育保護(hù)投資者,以及對(duì)眾籌平臺(tái)要附加更多責(zé)任與義務(wù)來(lái)實(shí)現(xiàn)了風(fēng)險(xiǎn)的規(guī)制,值得我們借鑒和學(xué)習(xí),以規(guī)制我國(guó)股權(quán)眾籌融資法律風(fēng)險(xiǎn)。加大對(duì)融資者的監(jiān)管力度,探索建立適當(dāng)投資者制度,建立規(guī)范化平臺(tái),以期將風(fēng)險(xiǎn)降到最低值是我們的終極追求。全文將分以下幾個(gè)部分加以分別介紹和論述:第一部分,在融資難的大背景下,一種依托互聯(lián)網(wǎng)平臺(tái)籌集資金的模式應(yīng)運(yùn)而生,在國(guó)內(nèi)外蓬勃發(fā)展,主要涉及融資者和眾籌平臺(tái)、投資者和眾籌平臺(tái)、融資者與投資者三種法律關(guān)系,此種模式有利于降低融資成本,提高融資效率,拓展融資渠道。第二部分,融資者可能涉嫌非法吸收公眾存款或非法發(fā)行證券,投資者自身掌握信息少,知情權(quán)容易被侵犯,可能受到欺詐,甚至在項(xiàng)目失敗的時(shí)候難以退出的風(fēng)險(xiǎn)。股權(quán)眾籌融資平臺(tái)面臨權(quán)利義務(wù)模糊、信息披露不足、資金管理不嚴(yán)格的風(fēng)險(xiǎn)。第三部分,美國(guó)、英國(guó)、意大利通過(guò)對(duì)融資者設(shè)定嚴(yán)格資格和義務(wù),適當(dāng)教育保護(hù)投資者,以及對(duì)眾籌平臺(tái)要附加更多責(zé)任與義務(wù)來(lái)實(shí)現(xiàn)了風(fēng)險(xiǎn)的規(guī)定,值得我們借鑒和學(xué)習(xí),以規(guī)制我國(guó)股權(quán)眾籌融資法律風(fēng)險(xiǎn)。第四部分,加大對(duì)融資者的監(jiān)管力度,探索建立適當(dāng)投資者制度,建立規(guī)范化平臺(tái)等方面,提出我國(guó)股權(quán)眾籌融資法律風(fēng)險(xiǎn)的規(guī)制建議。
[Abstract]:Stock raising and financing is a new financing model in recent years facing a lot of legal risks, but at the same time for small and micro start-ups, it is conducive to reduce the financing costs and improve the efficiency of financing. At the same time, it also broadens the financing channels. In the financing of stock rights, there are three pairs of legal relations, namely, the financier and the crowdfunding platform, the investor and crowdfunding platform, the financier and the investor. Each subject in the stock raising and raising funds in the activities of the potential for targeted risks. Financiers may be suspected of illegally taking in public deposits or illegal issuance of securities. Even the intellectual property rights of the enterprise are infringed. Investors face little information, the right to know is easy to be infringed, and may be fraudulently. Even when the project fails, it is difficult to withdraw the risk. The stock raising and financing platform faces the risk of vague rights and obligations, insufficient information disclosure, and the capital management is not strict. Look abroad, the United States, the United Kingdom. Italy has a wealth of practical experience in the financing of equity crowdfunding through the establishment of strict qualifications and obligations of financiers and appropriate education to protect investors. And to add more responsibilities and obligations to the crowdfunding platform to achieve the risk regulation, we should learn from, in order to regulate the legal risk of crowdfunding in our country, and strengthen the supervision of the financiers. It is our ultimate pursuit to explore the establishment of appropriate investor system and establish a standardized platform in order to reduce the risk to the lowest value. The full text will be introduced and discussed separately in the following parts: the first part. Under the background of difficult financing, a mode of raising funds based on Internet platform emerges as the times require, and it has developed vigorously at home and abroad, mainly involving financiers and crowdfunding platforms, investors and crowdfunding platforms. There are three kinds of legal relations between the financier and the investor. This mode is helpful to reduce the financing cost, improve the financing efficiency and expand the financing channel. The second part, the financier may be suspected of illegally absorbing public deposits or illegally issuing securities. Investors own little information, the right to know is easy to be infringed, may be fraudulently, even in the event of failure of the project difficult to withdraw the risk. Stock raising and financing platform is faced with vague rights and obligations, insufficient information disclosure. The third part, the United States, the United Kingdom, Italy, by imposing strict qualifications and obligations on financiers, appropriate education to protect investors. And to the public funding platform to add more responsibilities and obligations to achieve the risk of the provisions, we should learn from and learn, in order to regulate the legal risk of crowdfunding in China. 4th part, to increase the supervision of financiers. This paper probes into the establishment of appropriate investor system and the establishment of standardized platform, and puts forward some suggestions for regulating the legal risk of public financing of stock rights in China.
【學(xué)位授予單位】：河北大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：D922.287

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