The Research On Correcting The Imbalance Of Information In Crowd-funding

Crowd-funding has integrated information technology and financial markets closely,implementing financial activities by using the equity financing and unique advantages of Internet,such as celerity,convenience,efficiency and so on.With the development of crowd-funding,folk idle funds have going to some emerging industries,injecting new blood to the financial markets and improving the efficiency of the financial greatly.In addition,the healthy development of crowd-funding will relieve the financing stress of small and medium-sized enterprise,help to build up multi-level financing markets,and promote the development of national economy rapidly and orderly.However,crowd-funding mainly depends on the internet technology and is built on the basis of strangers’ society.So,informational asymmetries must be pervasive.This will greatly increase the fees of collecting information.The consequence of bad money drives out good will happen,leading to the distortion of crowd-funding financing market,and reducing the efficiency of market-allocated resources.At present,our country has many difficulties in developing crowd-funding,such as: poor self-discipline,imperfect legislation,powerlessly supervision,incompletely social credit system and so on.Social credit situation is not optimistic.If the situation can not be relieved effectively,the healthy development of the domestic crowd-funding will prove very difficult.In order to solve the above problems effectively,this paper will research these unhealthy phenomena by using the theory of information asymmetry,and putting forward corresponding suggestions.This paper consists of three parts: introduction,text and conclusion.And the text has following four sections:In the first part,the author illustrates the concept and characteristics of crowd-funding firstly.Secondly,the author stated the legal relationships and operation processes in crowd-funding clearly.Finally,the author generalized the legislative evolutions in China and the importance of information symmetry in crowd-funding.And all above is to lay the foundation for the further study of the dilemma that our country will face with in the developing of crowd-funding.In the second part,firstly,the author pointed out information asymmetry in crowd-funding after giving a clear explanation of the theory of information asymmetry.Secondly,the author explained the cause of information asymmetry in crowd-funding.Finally,the author concluded the main hazards that resulted in information asymmetry in crowd-funding.And all above is to provide the basis for putting forward concrete suggestions by using the theory of information asymmetry.The purpose of the third part is to introduce the legislative status of the United States,Britain and France.Part of the regulatory systems and supervision measures will be of great significance for us in overcoming and correcting information asymmetry in crowd-funding.The purpose of the forth part is to build up comprehensive regulatory framework of crowd-funding in our country.Firstly,every market entity should strengthen self-discipline and supply more information.The organization and management through the industry association will improve consciousness of self-discipline and social responsibility of each market entity in crowd-funding greatly.Secondly,we should strengthen the supervision of heteronomy and supply information by compulsory measures.On the one hand,we should enforce the laws better and provide powerful legal support.On the other hand,we should improve the real-time normal regulation system and strengthen the punishment.Finally,we should establish diversified multi-level credit investigation system and supply information by all the ways.