Author(s)

Ying Li, Hongduo Cao^*, Tengjuan Zhao

Business School, Sun Yat-sen University, Guangzhou, China.

This study examines the factors that influence successful equity crowdfunding, using data from the website www.dajiatou.com to develop models based on investors’ willingness to invest, financing efficiency, and the herding effect, which are all related to the successful financing of projects. The results show that financing objectives, assignment of shares, and the number of inquiries have a significant impact on investors’ willingness to invest; the minimum initial investment amount and the number of inquiries have a significant impact on financing efficiency, and early investment affects the decision-making behavior of investors later in the process via the herding effect.

Equity Crowdfunding, Successful Financing, Influencing Factors, Herding Effect

Li, Y. , Cao, H. and Zhao, T. (2018) Factors Affecting Successful Equity Crowdfunding. Journal of Mathematical Finance, 8, 446-456. doi: 10.4236/jmf.2018.82028.