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標題: | 股權眾籌監管問題之研究 Research on Regulatory Issues of Equity Crowdfunding |
作者: | Yue Tao 陶悅 |
指導教授: | 王文宇(Wen-Yeu Wang) |
關鍵字: | 股權眾籌,證券法,美國JOBS法案,互聯網金融,金融監管, equity crowdfunding,Securities Law,JOBS,Internet Finance,financial regulation., |
出版年 : | 2019 |
學位: | 碩士 |
摘要: | 目前股權眾籌成為了新創企業的新融資渠道。對於融資者來說,這種新的融資模式可以讓中小企業以較低的成本快速募集到項目資金,實現自己的經營計畫。對投資者來說,即使沒有投資經驗、缺乏專業知識和雄厚資金的普通投資者,也能夠充分利用自己的閒散資金,實現投資盈利。這是一個雙贏的新型互聯網金融模式。而目前中國缺乏對股權眾籌市場的監管,尤其是法律規範方面,一直沒有完善的規定。這導致很多眾籌平台在吸引投資過程中可能存在侵權問題,甚至犯罪的風險。有的眾籌者因為沒有相關法律的監管,而在募資和經營過程中存在損害投資者利益的不當行為。 這些監管問題增加了股權眾籌市場的投資風險,因此本文就股權眾籌的監管問題展開研究,從股權眾籌的發展現狀中發現其中的法律問題。文中,先將介紹眾籌的相關概念,以及股權眾籌的發展沿革,並對當前的股權眾籌模式進行了分類介紹。之後,結合多個實際案例,分析其中的法律糾紛,找出股權眾籌市場的潛在監管問題。並且,通過借鑑具有豐富立法經驗的國外立法,來探討如何制定股權眾籌市場的法律監管規範。由於中國股權眾籌市場與國外市場情況有所不同,因此具體的立法實踐還有待進一步調查研究。 At present, equity crowdfunding has become a new financing channel for start-up businesses. For financiers, this new financing model allows SMEs (small- and medium-sized enterprises) to quickly raise project funds at a lower cost and realize their own business plans. For investors, even ordinary investors who have no investment experience, lack of professional knowledge and strong funds can make full use of their idle funds to achieve investment profit. This is a win-win new Internet finance model. At present, China lacks supervision over the equity crowdfunding market, especially in terms of legal norms, and there is no perfect regulation. This has led many crowdfunding platforms to have infringement problems and even crime risks in attracting investment. Due to the lack of relevant laws and regulations, some fundraisers have misconduct in the process of fundraising and business operations that harm the interests of investors. These regulatory problems have increased the investment risk of the equity crowdfunding market. Therefore, this paper studies the regulation of equity crowdfunding and discovers the legal issues from the development of equity crowdfunding. In the article, I will introduce the related concepts of crowdfunding and the evolution of equity crowdfunding, and introduce the current equity crowdfunding model. After that, combined with a number of actual cases, analyze the legal disputes and identify potential regulatory issues in the equity crowdfunding market. Moreover, by learning from foreign legislation with rich legislative experience, I will explore how to formulate legal supervision norms for the equity crowdfunding market. Since the Chinese equity crowdfunding market is different from the foreign market, the specific legislative practice remains to be further investigated. |
URI: | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/21084 |
DOI: | 10.6342/NTU202000175 |
全文授權: | 未授權 |
顯示於系所單位: | 法律學系 |
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