探究影响众筹项目成功率的因素基于众筹平台点名时间的项目数据的实证分析.docx

金融机构与市场案例分析课程期末报告论文题目：探究影响众筹项目成功率的因素 ——基于众筹平台点名时间的项目数据的实证分析作 者： ***专业年级：13金融学 号： *****班号：***指导老师： **** 写作时间： 2015.09.25--2016.01.15探究影响众筹项目成功率的因素—基于众筹平台点名时间的项目数据的实证分析***摘要:依托于互联网技术发展和金融服务创新，众筹作为一种新型的互联网金融模式，近几年在国内外得到迅速发展。通过探讨造成国内众筹项目成败的一些关键因素，有助于帮助国内从业者和政策制定者进一步明确众筹行业在国内的特点、发展阻力、动力等，以弥补相关研究的不足。本文选取了国内著名众筹网站——点名时间2011年7月4日成立至2015 年12月31日间973个众筹项目为研究样本，参照同行业其他的研究将其各项指标数据进行梳理，运用多元线性回归分析法对平台中影响众筹项目成功的因素进行分析。实证结果显示，融资目标、最小投资金额、公告数、评价数和关注人数对于众筹项目融资成功存在显著影响，支持人数、最小金额支持人数和回报级数对众筹项目融资成功没有显著影响。在此基础上，得出本文的研究结论并给出研究建议。关键词：项目成功率 影响因素 点名时间 互联网众筹Exploring the Major Factors Which Influence the Successful Rate of Projects--Basing on the Enterprise of Demo HourHUANG Rui-lin (Hardy)Abstract：Relying on the development of Internet technology and innovation in financial services, crowdfunding, as a new financial model of the Internet, develops rapidly in recent years both at home and abroad. It is contributed to helpdomestic practitioners and policy makers understand Chinese crowdfunding industry’s characteristics, resistance and power by exploring some key factors which would influence the success rate of crowdfunding projects to compensate for the lack of related research. In this paper, we selected 973 crowdfunding projects which come from the famous crowdfunding site--Demo Hour founded in July 4, 2011 as a sample. This sample’s projects are between July 4, 2011 and December 31, 2015. Referencing to other studies in the same industry to sort out sample’s data, we use multiple linear regression analysis to analyze some key factors which would influence the success rate of crowdfunding projects. Empirical results showed that the objectives for the financing, the minimum amount of investment, number of announcements, evaluation and concerns number impacted the successful rate of crowdfunding projects’ finance significantly, on the contrary, the amount of support, the minimum amount of support and reward series to crowdfunding projects’ finance success had