考虑广告效应的非股权众筹产品价格和质量决策研究.docVIP

考虑广告效应的非股权众筹产品价格和质量决策研究 黄晶 杨文胜 南京理工大学经济管理学院 X 关注成功！ 加关注后您将方便地在 我的关注中得到本文献的被引频次变化的通知！ 新浪微博 腾讯微博 人人网 开心网 豆瓣网 网易微博 摘????要： 基于非股权众筹, 讨论当筹资人面对规模相当的两类潜在投资人时, 对众筹产品的价格和质量决策;结合众筹引发的广告效应, 研究众筹产品后续销售期的价格决策, 并对两期产品价格进行对比;当潜在投资人规模不同时, 探讨影响众筹成功率的因素及后续销售期决策。研究表明:根据投资商估值比值不同, 众筹可能是单产品众筹也可能是双产品众筹, 后续销售期产品也分为两类。单产品众筹下, 后续销售价格小于众筹价格;双产品众筹下, 低价产品销售价格大于众筹价格, 高价产品销售价格和众筹价格分布于相同的区间。通过设计合理的众筹机制, 筹资人可以成功地通过众筹推出新产品, 并做出良好的后续销售期决策。 关键词： 众筹; 价格决策; 质量决策; 广告效应; 作者简介：杨文胜 (1969~) , 男, 安徽合肥人。南京理工大学 (南京市210094) 经济管理学院教授、博士研究生导师。研究方向为物流、供应链管理。E-mail:wensheng_yang@163.com 收稿日期：2017-04-17 基金：国家自然科学基金资助项目 Price and Quality Decisions in Non-Equity Crowdfunding with Advertising Effect HUANG Jing YANG Wensheng Nanjing University of Science and Technology; Abstract： Based on non-equity crowdfunding, this study investigates the optimal pricing and quality decisions when the creator faces on two kinds of comparable potential investors.Combined with the advertising effect triggered by crowdfunding, we study the pricing decision of follow-up sales period and compare the pricing of two periods.When potential investors have different scales, we explore the factors that affect the crowdfunding success rate and follow-up period decisions.The research results are as follows.Based on different product valuations, crowdfunding can be single or double product mode and the follow-up period also has two modes.Under the single product mode, follow-up sales pricing is lower than crowdfunding, and under double products mode, the follow-up sales pricing of low quality product is larger than crowdfunding.The large quality product has same pricing interval under two modes.Through the design of reasonable crowdfunding mechanism, creators can introduce new products successfully, and make good follow-up sales decisions. Keyword： crowdfunding; pricing; quality decision; advertising effect; Received： 2017-04-17 1 研究背景 作为新型互联网金融模式, 众筹主要依靠网络力量集合民间资本, 实现企业和个人的融资, 提高创意转换为现实的可能性。非股权式众筹为约定投资者在投资后获得非金钱奖励 (众筹