网络众筹、激励相容与风险约束——基于产业演化的视角

Internet Crowd Funding,Incentive Compatibility and Risk Constraint——Based on the Viewpoint of Industrial Evolution

从当前网络众筹的兴起及其相关文献梳理出发,分析其主体架构和运行机制,认为网络众筹能够在生产者、出资者和平台三方之间实现良好的激励相容,同时从声誉信号、市场规则和行业监管三个层面分析其风险约束及相应的管理对策。

Beginning with the rise of the Internet crowd funding and related literature review,the paper analyzes its main structure and operation mechanism. It concluded that Internet crowd funding can achieve good incentive compatibility between producers,investors and the third party platform.At the same time,the analysis of its risk constraint and the corresponding management countermeasures in three aspects from the reputation signal,the rules of the market,industry regulation.