本文選題：股權(quán) + 股權(quán)眾籌��； 參考：《蘭州大學(xué)》2017年碩士論文

【摘要】：股權(quán)眾籌是互聯(lián)網(wǎng)金融業(yè)態(tài)中發(fā)展迅速的一種融資模式,對于解決小微企業(yè)、初創(chuàng)企業(yè)融資需求難題具有重要價(jià)值和深遠(yuǎn)意義。近年來,隨著股權(quán)眾籌融資試點(diǎn)的逐步開展,其所蘊(yùn)含的風(fēng)險(xiǎn)也日益凸顯。如何從規(guī)范角度防范和控制風(fēng)險(xiǎn),確保在金融安全的前提下獲得健康可持續(xù)發(fā)展,制度建設(shè)迫在眉捷。本文先闡述了國內(nèi)外股權(quán)眾籌的發(fā)展概況,然后對股權(quán)眾籌所具有的信用風(fēng)險(xiǎn)、信息風(fēng)險(xiǎn)、投融資主體資格風(fēng)險(xiǎn)、股權(quán)眾籌平臺(tái)合法性風(fēng)險(xiǎn)、經(jīng)營風(fēng)險(xiǎn)和監(jiān)管制度缺失的風(fēng)險(xiǎn)等六大風(fēng)險(xiǎn)進(jìn)行了法律分析,并對國外英美法系和大陸法系典型發(fā)達(dá)國家關(guān)于股權(quán)眾籌的立法進(jìn)行了比較,最后在此基礎(chǔ)上針對性地提出了關(guān)于股權(quán)眾籌六大風(fēng)險(xiǎn)的法律防控建議。引言部分包括本文的選題背景和研究意義,研究思路、內(nèi)容及重點(diǎn),研究方法和研究范圍,國內(nèi)外文獻(xiàn)研究綜述,本文創(chuàng)新及不足之處等五部分,隨后引出正文。正文是文章的主要組成部分,共包括四章。其中,第一章對股權(quán)眾籌的概況進(jìn)行了闡述,第二章則重點(diǎn)分析了股權(quán)眾籌具有的六大風(fēng)險(xiǎn),第三章對國外典型發(fā)達(dá)國家的股權(quán)眾籌立法進(jìn)行了比較,第四章在結(jié)合國情、適當(dāng)借鑒國外立法的基礎(chǔ)上,針對股權(quán)眾籌的六大風(fēng)險(xiǎn)提出應(yīng)當(dāng)從法律的多個(gè)緯度進(jìn)行防控,包括:一是完善社會(huì)征信體系,發(fā)揮部際聯(lián)席會(huì)議作用并確立信用信息共享制度,實(shí)行信用評級和市場公開制度;二是實(shí)施融資者信息核查,建立賠償和評估機(jī)制;三是實(shí)行投資者分級分類管理,建立平臺(tái)嚴(yán)格審核和責(zé)任追究制度,實(shí)行融資限額制度;四是股權(quán)眾籌平臺(tái)依法申領(lǐng)專門牌照并合法運(yùn)營,建立和實(shí)施強(qiáng)制退出資本市場制度;五是股權(quán)眾籌平臺(tái)建立技術(shù)規(guī)程、運(yùn)營流程和管理規(guī)范,設(shè)立風(fēng)險(xiǎn)預(yù)警機(jī)制和激勵(lì)約束機(jī)制,開展投資者教育和引入資本管理公司,實(shí)行融資項(xiàng)目推進(jìn)的強(qiáng)制報(bào)告制度,制定項(xiàng)目運(yùn)營計(jì)劃、應(yīng)急預(yù)案及應(yīng)對投資者退出項(xiàng)目的方案;六是實(shí)行他律監(jiān)管和自律管理相結(jié)合的監(jiān)管方式并對股權(quán)眾籌平臺(tái)、投資者和融資者三方參與主體全面實(shí)施監(jiān)管,還應(yīng)適時(shí)出臺(tái)針對股權(quán)眾籌的相應(yīng)法律。結(jié)語對文章的主要觀點(diǎn)做了提煉和總結(jié),即面對股權(quán)眾籌存在的風(fēng)險(xiǎn),本文結(jié)合國內(nèi)外眾籌發(fā)展?fàn)顩r和國外眾籌立法經(jīng)驗(yàn),從法律視角提出了一些防控建議。
[Abstract]:Crowdfunding is a rapidly developing mode of financing in Internet finance. It is of great value and far-reaching significance to solve the problem of financing needs of small and micro enterprises and start-up enterprises. In recent years, with the gradual development of the stock-raising pilot project, its risks are increasingly prominent. How to prevent and control risks from a normative point of view to ensure healthy and sustainable development under the premise of financial security, institutional construction is urgent. This paper first describes the development of stock rights crowdfunding at home and abroad, and then the credit risk, information risk, the qualification risk of investment and financing, the legitimacy risk of stock financing platform, the credit risk, the information risk, and the legitimacy risk of the stock rights crowdfunding platform. Six major risks, such as management risk and the risk of lack of supervision system, are analyzed in law, and the legislation on crowdfunding of stock rights in typical developed countries of common law system and civil law system is compared. Finally, it puts forward the legal prevention and control suggestions on six major risks of stock rights raising. The introduction part includes five parts: the background and significance of this paper, research ideas, content and focus, research methods and research scope, domestic and foreign literature review, innovation and deficiencies of this paper, and then lead to the text. The text is the main part of the article, including four chapters. Among them, the first chapter describes the general situation of stock crowdfunding, the second chapter focuses on the analysis of the six major risks of crowdfunding, the third chapter compares the legislation of crowdfunding in typical developed countries, the fourth chapter combines with the national conditions. On the basis of drawing lessons from foreign legislation, this paper puts forward that prevention and control should be carried out from several aspects of the law in view of the six major risks of stock capital raising, including: first, perfecting the social credit system, giving play to the role of the interministerial joint meeting and establishing the system of credit information sharing, Implement credit rating and market disclosure system; second, implement information verification of financiers, establish compensation and evaluation mechanism; third, implement classified management of investors, establish platform strict auditing and accountability system, and implement financing quota system; Fourth, the shareholding crowdfunding platform applies for a special license and operates legally, establishes and implements the mandatory withdrawal from the capital market system; and fifthly, the shareholding crowdfunding platform establishes technical regulations, business processes and management norms, Setting up risk warning mechanism and incentive and restraint mechanism, carrying out investor education and introducing capital management company, carrying out mandatory reporting system for the promotion of financing project, formulating project operation plan, emergency plan and plan to deal with the withdrawal of investors from the project; Sixthly, we should implement the supervision mode of combining heteronomy supervision with self-discipline management, and implement the supervision on the equity crowdfunding platform, the investors and the financiers participate in the main body in an all-round way, and we should also issue the corresponding laws in time for the stock rights crowdfunding. The conclusion summarizes the main points of the article, that is, facing the risk of stock raising, this paper puts forward some suggestions from the perspective of law, combining the development of crowdfunding at home and abroad and the experience of foreign crowdfunding legislation.
【學(xué)位授予單位】：蘭州大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：D922.182

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