Zaiyu Huang, Candy Lim Chiu, Sha Mo and Rob Marjerison
The purpose of this paper is to develop initial evidence about the nature and features of crowdfunding in China, given it is largely unregulated regulatory frameworks.
Abstract
Purpose
The purpose of this paper is to develop initial evidence about the nature and features of crowdfunding in China, given it is largely unregulated regulatory frameworks.
Design/methodology/approach
The paper used extensive desk research using data collected from the public and private sectors, after which the data was analyzed parallel to existing academic literature, that is, institutional context by Bruton et al. (2014). This paper uncovered patterns of development, profiling crowdfunding platforms, examining the regulatory landscape and providing antecedents of successful crowdfunding projects in China.
Findings
When the traditional financial markets are hard to reach, micro, small and medium enterprises (MSMEs) were starved for capital. Crowdfunding can play a major role in funding and risk sharing. It is an innovative and dynamic vehicle for MSMEs as well as enthusiastic investors in China. Since its initial introduction to China in 2009, crowdfunding has gained substantial popularity in a relatively short period. Currently, there is still not an identifiable guideline on how to delineate the significance of the crowdfunding platform. The development of crowdfunding in China faces a few unresolved key issues. As researchers exploring this phenomenon in new ways, crowdfunding platforms can be enhanced in a manner that benefits the capital seeker, investors and society as a whole.
Originality/value
There is a dearth of information on start-up crowdfunding in Asia. With little data available to analyze, so this paper hopes to contribute to knowledge and provide valuable information to researchers and industry representations. Crowdfunding represents a potentially disruptive change in the way that new ventures are funded. This paper represents an initial analysis in the study of new ventures in China. Finally, the authors provide recommendations for entrepreneurs, investors and policymakers as well as researchers and practitioners with suggestions about yet unexplored avenues of research.
Details
Keywords
Leyi Cheng, Yinghan Wang and Yichuan Peng
The causes of high-speed railway failures are complex, and it is difficult to quantitatively and accurately describe safety evaluation. The purpose of this paper is to construct a…
Abstract
Purpose
The causes of high-speed railway failures are complex, and it is difficult to quantitatively and accurately describe safety evaluation. The purpose of this paper is to construct a model to ensure the safety of high-speed railway operations.
Design/methodology/approach
The authors construct a high-speed railway operation safety evaluation index system from four aspects: personnel, equipment, environment and management and analyze the inter-coupling relationship of various safety factors. Based on the evaluation index system, the use of network analytic hierarchy process (ANP) and fuzzy comprehensive evaluation will be used to establish a high-speed railway operation safety evaluation model.
Findings
Through the literature investigation and field investigation, combined with high-speed railway safety key points and system composition, 4 first-level indicators and 17 second-level indicators were selected to construct a high-speed railway operation safety evaluation index system. It can be seen from the results that the personnel management system and the signal and control system have the largest weight.
Originality/value
On the basis of establishing an evaluation index system, comprehensively considering the internal coupling relationship between evaluation indexes and the fuzziness of high-speed railway operation safety evaluation, high-speed railway uses ANP fuzzy network analysis method to construct high-speed railway operation, and the safety evaluation model has certain advantages and practicability in the case of the relative lack of high-speed railway operation data and fault data.