众筹与小微经济体融资的匹配性——基于信息搜寻的视角

The Matching between Crowd Funding and Small and Micro-sized Economic Entity Financing

小微经济体在我国国民经济体系中发挥着基础性的作用,但长期以来一直面临着融资难、融资贵的困境。尤其处于初创期的小微经济体,融资途径狭窄,发展被严重制约。国内外研究表明,信息不对称是导致中小微经济体融资难的主要原因之一。近年来,互联网众筹出现快速发展趋势,在解决小微经济体融资方面具有一定的优势。从理论与现实运行机制的研究发现,现众筹与初创期小微经济体融资具有较好的匹配性,它可以有效缓解小微经济体与出资人之间的信息不对称问题,降低融资搜寻成本。

Small and micro-sized economic entity plays a fundamental role in the national economic system of our country, but it has long been faced with the plight of difficulty and high cost of financing. Especially for newly established small and micro-sized economic entities, financing channels are so narrow that their development has been restricted seriously. Both the domestic and foreign research shows that information asymmetry is one of the leading causes of small and micro-sized eco- nomic entity＇s financing difficulty. In recent years, crowd funding has been developing rapidly and it shows a certain advan- tage in solving the financing problem of small and micro-sized economic entity. So, looking from the theoretical point of view and practical operational mechanism, now crowd funding and start-up financing of small and micro economies have better matching ,it can effectively alleviate the problem of information asymmetry small and micro economies and among investors, reduce the cost of financing the search.