本文選題：眾籌融資 + 眾籌平臺(tái)��； 參考：《沈陽(yáng)工業(yè)大學(xué)》2017年碩士論文

【摘要】：眾籌融資作為一種近幾年出現(xiàn)的網(wǎng)絡(luò)融資模式,為小微企業(yè)融資帶來(lái)了新思路。但是眾籌融資過(guò)程中也會(huì)面臨來(lái)自各方面的風(fēng)險(xiǎn),不但會(huì)降低融資的成功率,也有可能對(duì)融資者、投資者造成損失。因此研究小微企業(yè)眾籌融資過(guò)程中眾籌平臺(tái)面臨的風(fēng)險(xiǎn),有利于實(shí)現(xiàn)小微企業(yè)融資與眾籌平臺(tái)更好地對(duì)接。目前國(guó)內(nèi)外學(xué)者對(duì)于眾籌融資平臺(tái)風(fēng)險(xiǎn)的研究還比較分散,多停留在理論分析的層面,因此本文的研究重點(diǎn)在于將眾籌融資平臺(tái)風(fēng)險(xiǎn)進(jìn)行定性、定量相結(jié)合的分析,主要包括以下幾個(gè)方面:第一,風(fēng)險(xiǎn)識(shí)別。利用文獻(xiàn)分析法對(duì)小微企業(yè)在眾籌融資過(guò)程中可能面臨的來(lái)自各方面的風(fēng)險(xiǎn)因素進(jìn)行了識(shí)別,并利用風(fēng)險(xiǎn)樹(shù)搜尋法重點(diǎn)識(shí)別了平臺(tái)方面的風(fēng)險(xiǎn)因素。第二,風(fēng)險(xiǎn)評(píng)估。以風(fēng)險(xiǎn)識(shí)別為基礎(chǔ)展開(kāi)實(shí)證分析,根據(jù)系統(tǒng)動(dòng)力學(xué)原理分析了各風(fēng)險(xiǎn)因素之間的相互關(guān)系,并繪制了存量流量圖。利用基于熵值修正的G1組合賦權(quán)方法對(duì)風(fēng)險(xiǎn)因素進(jìn)行賦權(quán),在系統(tǒng)動(dòng)力學(xué)軟件Vensim PLE中修正、檢驗(yàn)并運(yùn)行了整個(gè)模型,對(duì)風(fēng)險(xiǎn)進(jìn)行量化評(píng)估。研究結(jié)論為眾籌平臺(tái)風(fēng)險(xiǎn)是一個(gè)積累爆發(fā)的過(guò)程,信用風(fēng)險(xiǎn)是眾籌平臺(tái)可能面臨的最大風(fēng)險(xiǎn),操作風(fēng)險(xiǎn)次之,但安全風(fēng)險(xiǎn)、法律風(fēng)險(xiǎn)也不容忽視。同時(shí)本文建立的眾籌融資平臺(tái)風(fēng)險(xiǎn)評(píng)估模型具有適用性,使用主體可以根據(jù)自身實(shí)際增減風(fēng)險(xiǎn)因素、改變賦值賦權(quán),從而估測(cè)出更有針對(duì)性的風(fēng)險(xiǎn)。借鑒美國(guó)的JOBS法案和英國(guó)UKCFA協(xié)會(huì)的經(jīng)驗(yàn),提出針對(duì)眾籌平臺(tái)風(fēng)險(xiǎn)的改進(jìn)對(duì)策。眾籌平臺(tái)自身需要提高信用水平和運(yùn)營(yíng)規(guī)范性,從外部環(huán)境看需要盡快完善相關(guān)的法律法規(guī),優(yōu)化互聯(lián)網(wǎng)整體環(huán)境。
[Abstract]:As a network financing mode in recent years, crowdfunding has brought new ideas for small and micro enterprises. However, the process of crowdfunding will also face various risks, not only will reduce the success rate of financing, but also may cause losses to the financiers and investors. Therefore, the study of the risks faced by the crowdfunding platform in the process of crowdfunding of small and micro enterprises is beneficial to the realization of better docking between the financing of small and micro enterprises and the crowdfunding platform. At present, domestic and foreign scholars' research on the risk of crowdfunding platform is still scattered, most of them stay at the level of theoretical analysis, so the research focus of this paper is to combine qualitative and quantitative analysis of the risk of multi-financing platform. Mainly include the following aspects: first, risk identification. The paper uses the literature analysis method to identify the risk factors that small and micro enterprises may face in the process of raising public funds, and uses the risk tree search method to identify the risk factors of the platform. Second, risk assessment. On the basis of risk identification, this paper analyzes the relationship between risk factors according to the principle of system dynamics, and draws the inventory flow chart. The G1 combination weighting method based on entropy correction is used to weight the risk factors. The model is tested and run in the system dynamics software Vensim PLE, and the risk is evaluated quantitatively. The research conclusion is that the risk of crowdfunding platform is a process of accumulation and outbreak, the credit risk is the biggest risk that the crowdfunding platform may face, the operational risk is the second, but the safety risk and the legal risk can not be ignored. At the same time, the risk assessment model of crowdfunding platform established in this paper is applicable, the user can change the assignment weight according to their actual risk factors, so as to estimate the more targeted risk. Based on the JOBS Act of the United States and the experience of UKCFA Institute in the United Kingdom, this paper puts forward some countermeasures for improving the risk of crowdfunding platform. The crowdfunding platform itself needs to improve the credit level and the operation standard. From the external environment, we need to improve the relevant laws and regulations as soon as possible, and optimize the overall environment of the Internet.
【學(xué)位授予單位】：沈陽(yáng)工業(yè)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F276.3;F275;F832.4

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