| 高科技新创产品的预售众筹规模测算研究 |
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| 引用本文： | 白江涛,许长延.高科技新创产品的预售众筹规模测算研究[J].科学学与科学技术管理,2016(11):128-135. |
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| 作者姓名： | 白江涛 许长延 |
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| 作者单位： | 1. 同济大学 经济管理学院,上海,200092;2. 上海海事大学 经济管理学院,上海,201306 |
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| 基金项目： | 教育部人文社会科学重点研究基地重大项目(14JJD630001) |
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| 摘 要： | "众筹"通过广泛吸收个人小额资金满足高科技企业初创期的融资需求,众筹形式不同,投资人的群体收益机制也存在差异。文章聚焦"产品预订"这一特定众筹形式,在构建收益机制模型的基础上,对科技企业众筹融资的管理决策进行分析,结果发现:利用价格歧视吸引消费者预购并共享众筹回报的方式,会扭曲市场价格并给企业带来利润挤压和融资瓶颈,科技企业利润最大化的方案除了受到预售规模和价格等内生变量影响,也取决于科技产品的技术经济特征,证明了针对高科技产品预售众筹方式,仅限于资金缺口较小时,"产品预订"众筹规模不可能无限扩张。
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| 关 键 词： | 产品预订 价格歧视 众筹规模 |
The Research on the Preording-Crowdfunding Scale of Tech-Startups Products |
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| Abstract: | 'Crowd-funding' meets the financing needs of high-tech enterprises which are in their start-up phase by absorbing in-dividual microfinance, investors' group return mechanisms are different for different forms of crowd-funding. Through focu-sing on a specific form of 'crowd-funding'-'product booking', the paper analyzes the management decisions on crowd-funding by high-tech enterprises based on return mechanism model. It finds out that, sharing the return on crowd-funding by attracting customs to pro-order will distort the market price and lead to profit squeezing and financing bottleneck. The profit maximizing projects of high-tech enterprises are affected not only by endogenous variables like pre-sale scale and price, but also by the technical and economic features of high-tech products. At last, it's proved that the high-tech products pre-sale crowd-funding is only suitable for the case of small funding gap, and the crowd-funding scale of 'product booking' could not expand infinitely. |
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| Keywords: | tech startups products pricing strategy preording-crowdfunding scale |
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