CAJ | 학술논문

基于扎根理论，通过对众筹模式投资者的深度访谈，探索性地研究了参与众筹整体过程中投资者感知价值的具体维度构成；并使用结构方程模型对模型的理论假设进行了实证检验，结果显示众筹投资者感知价值维度构成包括体验价值、独特价值、经济价值、回报功能价值以及项目质量价值。该研究对众筹平台及项目发起人提供服务、设计项目、设置回报和制定推广策略具有一定的指导作用。
기우찰근이론，통과대음주모식투자자적심도방담，탐색성지연구료삼여음주정체과정중투자자감지개치적구체유도구성；병사용결구방정모형대모형적이론가설진행료실증검험，결과현시음주투자자감지개치유도구성포괄체험개치、독특개치、경제개치、회보공능개치이급항목질량개치。해연구대음주평태급항목발기인제공복무、설계항목、설치회보화제정추엄책략구유일정적지도작용。
Analysing the perceived value of crowdfunding pattern investors is vital for improving the projects’ funding efficiency.Based on the methodology of Grounded Theory, in-depth interviews are conducted to find out the perceived value of investors who participate in crowdfunding pattern, and questionnaires are designed accordingly. Equation modeling is undertaken to empirically test hypothesis. Findings show that the factual dimension construction of Chinese crowdfunding investors’ perceived value comprises experience value, unique value, economic value, return functional value and project quality value. The research can be used for guiding the crowdfunding service provision, the project presentation, the setting of rewards and the promotion strategy.