Abstract Crowdfunding provides a new funding channel for smallmicro enterprises to raise funds conveniently and quickly.It selects 731 projects initiated on the famous crowdfunding websiteJingDong Crowdfunding from November 2016 to May 2017 as research samples, sorts out the various index data based on value cocreation theory, and conducts impact factor analysis of the projects performance through logit regression and multivariate linear regression.The empirical results show that the value creation process of sponsors including cocreation opportunities, project planning and project implementation positively significant influence the project financing performance, the positive impact of sponsor learning on financing performance is somewhat significant; the relationship experience in the value creation process of supporters somewhat significantly affects financing amount, but inluence of the supporter learning is not significant; the encounter process of value cocreation affects the financing performance positively significant.
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Fund:国家社会科学基金项目(14BJY008);中南大学创新驱动项目(2015CX010) |
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