투자형 크라우드펀딩의 성공 영향 요인 실증분석: 업종과 유형별 분류를 중심으로

The two main goals of this study are to derive independent factors affecting the success rate of crowdfunding and to empirically analyze the variation of independent factors' effectson the success of crowdfunding by industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). To identify the success factors of crowdfundingfor invigoration and strategic utilization, first, several variables were refined after interviews with experts and platform operators with investment experiences in numerous crowdfundingprojects. Then, independent factors affecting project involvement were categorized as follows: a characteristic of project, participant activity, and enterprise. Also, the results derived fromthe influence of independent variables on crowdfunding after moderating effects were driven. Selected independent factors in this study are as follows: crowdfunding period, target amount, visual contents, minimum account money, number of comments, number of SNS followers, level of interest, financial Statement disclosure, investment attraction, venture company, intellectual property rights disclosure, and business operation period. Selected moderating factors in this study are as follows: industry (Internet, culture/art, manufacturing/distribution), and funding type (stock type, bond type). In conclusion, a discussion of the academical and practical implications and a suggestion of directions for further research are explained.