The Exploration of Crowdfunding: It's Concepts and Main Subjects

Xi Nannan

《IETI Transactions on Business and Management Sciences》 2017 2卷2期 (2017/12) Pp. 27-42

摘要

Crowdfunding, a new emergent model of internet finance based on the development of social media, has created a new way of financing companies to support entrepreneurship, innovation and creativity. The development of Internet technology provides a base for crowdfunding. Increasing number of enterprises, especially small and medium enterprises (SMEs) begin to make use of crowdfunding pattern for financing. However, scholars in China has just started to pay attention to this field. To the general public who owns dual identities of consumers and investors, the participation behavior is both purchase decision and investment decision. On the other hand, those enterprises using crowdfunding platform not only access to finance, but also raise public concern as well as undergo the test of market. Accordingly, this paper introduces the basic concept and types of crowdfunding, analyzes the difference between crowdfunding and traditional financing model and summarizes three main subjects of crowdfunding in the practice. In addition,this paper also discusses the influencing factors of success, and prospects the future research, especially in the field of marketing.

關鍵字

Crowdfunding ； Internet financing ； Crowdfounders ； Investors