簡(jiǎn)介：BUSINESSPROCESSMANAGEMENTJOURNALCHALLENGESOFSUPPLYCHAINFINANCEADETAILEDSTUDYANDAHIERARCHICALMODELBASEDONTHEEXPERIENCESOFANINDIANFIRMDILEEPMOREPREETAMBASUARTICLEINFORMATIONTOCITETHISDOCUMENTDILEEPMOREPREETAMBASU,2013,“CHALLENGESOFSUPPLYCHAINFINANCE“,BUSINESSPROCESSMANAGEMENTJOURNAL,VOL19ISS4PP624647PERMANENTLINKTOTHISDOCUMENTHTTP//DXDOIORG/101108/BPMJ0920120093DOWNLOADEDON21APRIL2016,AT2238PTREFERENCESTHISDOCUMENTCONTAINSREFERENCESTO85OTHERDOCUMENTSTOCOPYTHISDOCUMENTPERMISSIONSEMERALDINSIGHTCOMTHEFULLTEXTOFTHISDOCUMENTHASBEENDOWNLOADED1937TIMESSINCE2013USERSWHODOWNLOADEDTHISARTICLEALSODOWNLOADED2009,“SUPPLYCHAINFINANCINGUSINGCASHTOCASHVARIABLESTOSTRENGTHENTHESUPPLYCHAIN“,INTERNATIONALJOURNALOFPHYSICALDISTRIBUTIONLOGISTICSMANAGEMENT,VOL39ISS8PP669689HTTP//DXDOIORG/101108/096000309109963142014,“INTEGRATINGFINANCIALANDPHYSICALSUPPLYCHAINSTHEROLEOFBANKSINENABLINGSUPPLYCHAININTEGRATION“,INTERNATIONALJOURNALOFOPERATIONSPRODUCTIONMANAGEMENT,VOL34ISS3PP298324HTTP//DXDOIORG/101108/IJOPM04201201312013,“MOTOROLASGLOBALFINANCIALSUPPLYCHAINSTRATEGY“,SUPPLYCHAINMANAGEMENTANINTERNATIONALJOURNAL,VOL18ISS2PP132147HTTP//DXDOIORG/101108/13598541311318782ACCESSTOTHISDOCUMENTWASGRANTEDTHROUGHANEMERALDSUBSCRIPTIONPROVIDEDBYEMERALDSRM393177FORAUTHORSIFYOUWOULDLIKETOWRITEFORTHIS,ORANYOTHEREMERALDPUBLICATION,THENPLEASEUSEOUREMERALDFORAUTHORSSERVICEINFORMATIONABOUTHOWTOCHOOSEWHICHPUBLICATIONTOWRITEFORANDSUBMISSIONGUIDELINESAREAVAILABLEFORALLPLEASEVISITWWWEMERALDINSIGHTCOM/AUTHORSFORMOREINFORMATIONABOUTEMERALDWWWEMERALDINSIGHTCOMEMERALDISAGLOBALPUBLISHERLINKINGRESEARCHANDPRACTICETOTHEBENEFITOFSOCIETYTHECOMPANYMANAGESAPORTFOLIOOFMORETHAN290JOURNALSANDOVER2,350BOOKSANDBOOKSERIESVOLUMES,ASWELLASPROVIDINGANEXTENSIVERANGEOFONLINEPRODUCTSANDADDITIONALCUSTOMERRESOURCESANDSERVICESEMERALDISBOTHCOUNTER4ANDTRANSFERCOMPLIANTTHEORGANIZATIONISAPARTNEROFTHECOMMITTEEONPUBLICATIONETHICSCOPEANDALSOWORKSWITHPORTICOANDTHELOCKSSINITIATIVEFORDIGITALARCHIVEPRESERVATIONDOWNLOADEDBYRMITUNIVERSITYAT223821APRIL2016PTCHALLENGESOFSUPPLYCHAINFINANCEADETAILEDSTUDYANDAHIERARCHICALMODELBASEDONTHEEXPERIENCESOFANINDIANFIRMDILEEPMOREANDPREETAMBASUOPERATIONSMANAGEMENTGROUP,INDIANINSTITUTEOFMANAGEMENTCALCUTTA,KOLKATA,INDIAABSTRACTPURPOSE–THEPURPOSEOFTHISPAPERISTOEXAMINETHEDIFFERENTCHALLENGESTHATCONFRONTSUPPLYCHAINFINANCESCFANDTODEVELOPAHIERARCHICALMODELTHATANALYZESTHECOMPLEXRELATIONSHIPDYNAMICSAMONGTHEMDESIGN/METHODOLOGY/APPROACH–ANEXTENSIVESURVEYISCARRIEDOUTAMONGSTINDIANFIRMSTOASCERTAINTHEPERCEPTIONSANDEXPERIENCESRELATEDTODIFFERENTSCFCHALLENGESAFTEROBTAININGANOVERVIEWOFTHEDIFFERENTSCFCHALLENGES,ANINDIANCOMPANYWITHGLOBALOPERATIONSWASAPPROACHEDANDAFTERESTABLISHINGRELATIONSHIPSAMONGTHECHALLENGES,AHIERARCHICALRELATIONSHIPSTRUCTUREWASDEVELOPEDANDMIMBIANALYSISWHEREMI?MEASUREOFINFLUENCINGMBI?MEASUREOFBEINGINFLUENCEDWASCARRIEDOUTTHATHELPEDUNDERSTANDTHERELATIONSHIPDYNAMICSOFSCFCHALLENGESANDIDENTIFYACTIONSATBOTHSTRATEGICANDTACTICALLEVELSFINDINGS–THESTUDYREVEALSTHATLACKOFCOMMONVISIONAMONGTHESUPPLYCHAINSCPARTNERSISTHEMOSTCRITICALCHALLENGECONFRONTINGSCFUNPREDICTABLECASHFLOWSRESULTINGFROMDELAYSINFINANCIALTRANSACTIONS,DUETOLACKOFAUTOMATIONINTHEPAYMENTPROCESSES,ALONGWITHLACKOFKNOWLEDGEANDTRAININGONSCFTOOLS,ALSOPLAYSIGNIFICANTROLESASORGANIZATIONSARETIGHTLYINTEGRATEDTHROUGHTHEIRSC,THEYSHOULDINITIATECOLLABORATIVEAPPROACHESACROSSTHESCTOREDUCETHETOTALPROCURETOPAYMENTCYCLETIMEAND,INTHEPROCESS,IMPROVEOVERALLFINANCIALSTABILITYOFTHESCRESEARCHLIMITATIONS/IMPLICATIONS–THISSTUDYISBASEDONTHEFINDINGSFROMTHEINDIANINDUSTRYFUTURERESEARCHMAYINCLUDEALARGESCALESURVEYANDCASESTUDIESACROSSORGANIZATIONSLOCATEDINDIFFERENTCOUNTRIESANDOPERATINGUNDERDIFFERENTENVIRONMENTSPRACTICALIMPLICATIONS–BASEDONTHESTUDY,FIRMSCANEVALUATETHEDYNAMICSOFSCFCHALLENGESANDREDEFINESCRELATIONSHIPSANDSTRATEGIESTOACHIEVEDESIREDCASHFLOWINTHESCORIGINALITY/VALUE–THEACADEMICLITERATUREONFINANCIALSUPPLYCHAINSISVERYLIMITEDTHISPAPERAPPEARSTOBETHEFIRSTFORMALATTEMPTATANALYZINGTHEVARIOUSCHALLENGESCONFRONTINGSCFKEYWORDSSUPPLYCHAINMANAGEMENT,FINANCE,CASHFLOW,INDIA,CHANNELRELATIONSHIPS,SUPPLYCHAINFINANCE,CHALLENGES,INTERPRETIVESTRUCTURALMODELLINGPAPERTYPERESEARCHPAPER1INTRODUCTIONCOMPETITIVEPRESSUREANDGLOBALIZEDNETWORKSHAVERESULTEDINCOMPLEXANDDYNAMICSUPPLYCHAINSSCSZHANGETAL,2003CHRISTOPHERETAL,2006,MANUJANDMENTZER,2008CREAZZAETAL,2010HOWEVER,THEFOCUSOFSUPPLYCHAINMANAGEMENTSCMTODATEHASBEENONTHEDESIGNANDOPTIMIZATIONOFTHEFLOWSOFGOODSANDINFORMATIONLEEETAL,2000CHILDERHOUSEANDTOWILL,2003DISNEYANDTOWILL,2003BHATNAGARANDTEO,2009ONEASPECTTHATHASBEENOFTENNEGLECTEDANDOVERLOOKEDISTHEFINANCIALFLOWSALONGTHESCWHICHFORMANESSENTIALPARTOFTHECONTINUUMOFTHEBUSINESSOPERATIONTHECURRENTISSUEANDFULLTEXTARCHIVEOFTHISJOURNALISAVAILABLEATWWWEMERALDINSIGHTCOM/14637154HTMRECEIVED14SEPTEMBER2012REVISED9DECEMBER2012ACCEPTED23DECEMBER2012BUSINESSPROCESSMANAGEMENTJOURNALVOL19NO4,2013PP624647QEMERALDGROUPPUBLISHINGLIMITED14637154DOI101108/BPMJ0920120093BPMJ19,4624DOWNLOADEDBYRMITUNIVERSITYAT223821APRIL2016PT

簡(jiǎn)介：3000英文單詞，英文單詞，17萬(wàn)英文字符，中文萬(wàn)英文字符，中文5100字文獻(xiàn)出處文獻(xiàn)出處MORED,BASUPCHALLENGESOFSUPPLYCHAINFINANCEJBUSINESSPROCESSMANAGEMENTJOURNAL,2013,19462464724CHALLENGESOFSUPPLYCHAINFINANCEADETAILEDSTUDYANDAHIERARCHICALMODELBASEDONTHEEXPERIENCESOFANINDIANFIRMDILEEPMOREANDPREETAMBASUABSTRACTPURPOSETHEPURPOSEOFTHISPAPERISTOEXAMINETHEDIFFERENTCHALLENGESTHATCONFRONTSUPPLYCHAINFINANCESCFANDTODEVELOPAHIERARCHICALMODELTHATANALYZESTHECOMPLEXRELATIONSHIPDYNAMICSAMONGTHEMDESIGN/METHODOLOGY/APPROACHANEXTENSIVESURVEYISCARRIEDOUTAMONGSTINDIANFIRMSTOASCERTAINTHEPERCEPTIONSANDEXPERIENCESRELATEDTODIFFERENTSCFCHALLENGESAFTEROBTAININGANOVERVIEWOFTHEDIFFERENTSCFCHALLENGES,ANINDIANCOMPANYWITHGLOBALOPERATIONSWASAPPROACHEDANDAFTERESTABLISHINGRELATIONSHIPSAMONGTHECHALLENGES,AHIERARCHICALRELATIONSHIPSTRUCTUREWASDEVELOPEDANDMIMBIANALYSISWHEREMIMEASUREOFINFLUENCINGMBIMEASUREOFBEINGINFLUENCEDWASCARRIEDOUTTHATHELPEDUNDERSTANDTHERELATIONSHIPDYNAMICSOFSCFCHALLENGESANDIDENTIFYACTIONSATBOTHSTRATEGICANDTACTICALLEVELSFINDINGSTHESTUDYREVEALSTHATLACKOFCOMMONVISIONAMONGTHESUPPLYCHAINSCPARTNERSISTHEMOSTCRITICALCHALLENGECONFRONTINGSCFUNPREDICTABLECASHFLOWSRESULTINGFROMDELAYSINFINANCIALTRANSACTIONS,DUETOLACKOFAUTOMATIONINTHEPAYMENTPROCESSES,ALONGWITHLACKOFKNOWLEDGEANDTRAININGONSCFTOOLS,ALSOPLAYSIGNIFICANTROLESASORGANIZATIONSARETIGHTLYINTEGRATEDTHROUGHTHEIRSC,THEYSHOULDINITIATECOLLABORATIVEAPPROACHESACROSSTHESCTOREDUCETHETOTALPROCURETOPAYMENTCYCLETIMEAND,INTHEPROCESS,IMPROVEOVERALLFINANCIALSTABILITYOFTHESCRESEARCHLIMITATIONS/IMPLICATIONSTHISSTUDYISBASEDONTHEFINDINGSFROMTHEINDIANINDUSTRYFUTURERESEARCHMAYINCLUDEALARGESCALESURVEYANDCASESTUDIESACROSSORGANIZATIONSLOCATEDINDIFFERENTCOUNTRIESANDOPERATINGUNDERDIFFERENTENVIRONMENTSPRACTICALIMPLICATIONSBASEDONTHESTUDY,FIRMSCANEVALUATETHEDYNAMICSOFSCFCHALLENGESANDREDEFINESCRELATIONSHIPSANDSTRATEGIESTOACHIEVEDESIREDCASHFLOWINTHESCORIGINALITY/VALUETHEACADEMICLITERATUREONFINANCIALSUPPLYCHAINSISVERYLIMITEDTHISPAPERAPPEARSTOBETHEFIRSTFORMALATTEMPTATANALYZINGTHEVARIOUSCHALLENGESCONFRONTINGSCFSCFPLATFORMPROVIDERSWHOTEAMUPWITHLARGEFINANCIALINSTITUTIONSTOMEETTHECAPITALREQUIREMENTSOFTHEENTIRESCSCFCREATESAFINANCIALWINWINFORTHEBUYER,THESELLERANDTHEFINANCIALINTERMEDIARYDELOITTE,2009PRICEWATERHOUSECOOPERS,2009HURTREZANDSALVADORI,2010WHILEBUYERSENJOYEXTENDEDPAYMENTTERMSANDANINCREASINGLYRELIABLESUPPLYBASE,SUPPLIERSGAINACCESSTOLOWERCOSTOFFINANCINGANDMUCHMORESTABLEANDPREDICTABLECASHFLOWSFINANCIALINTERMEDIARIESSTANDTODRAMATICALLYINCREASETHEIRINVOLVEMENTINGLOBALSCSBYEXTENDINGTHEIRREACHTOCOVERTHEIRCUSTOMERS’ENDTOENDSCFAIRCHILD,2005KNOX,2005GLASSANOS,2007GREATOPPORTUNITIESLIEAHEADINMANAGINGTHEFINANCIALFLOWSEFFICIENTLYHOWEVER,ATPRESENT,THEFINANCIALSCISINACRITICALPHASEOFEVOLUTIONFACINGVARIOUSCOMPLEXANDSIGNIFICANTCHALLENGESITISIMPORTANTTOANALYZEANDUNDERSTANDHOWTHEDIFFERENTSCFCHALLENGESINTERACTANDGAINANINSIGHTINTOTHEIRCOMPLEXDYNAMICSINTHISPAPER,ASURVEYHASBEENCONDUCTEDAMONGSTINDIANORGANIZATIONSTOLEARNABOUTTHEIRPERCEPTIONSANDEXPERIENCESRELATEDTOTHEDIFFERENTCHALLENGESTHATCONFRONTTHEIRFINANCIALSCSAFTERIDENTIFYINGTHESCFCHALLENGESININDIANENVIRONMENT,AWELLKNOWNINDIANFIRMHASBEENAPPROACHEDTOASCERTAINTHEATTITUDEANDAWARENESSABOUTTHECHALLENGESCONFRONTINGITSSCAND,TOUNDERSTANDANDANALYZETHEINTERACTIONSANDDYNAMICSAMONGTHECHALLENGESINTHECOMPANY’SSC,ANINTERPRETIVESTRUCTURALMODELINGISMHASBEENDEVELOPEDBASEDONTHEANALYSIS,THESTUDYDISCUSSESAPPROPRIATEACTIONPLANS,POLICIESANDSTRATEGIESFORDEPLOYINGSCFWITHTHEPURPOSEOFREDUCINGVULNERABILITYANDRISKSASSOCIATEDWITHTHEFINANCIALSCSTHENEXTSECTIONADDRESSESVARIOUSCHALLENGESTHATCONFRONTTHESCFSECTION3PRESENTSASURVEYTOGETAFIRSTHANDVIEWOFTHEPERCEPTIONANDBELIEFABOUTTHEIMPORTANCEOFSCFCHALLENGESINTHECONTEXTOFINDIANORGANIZATIONSSECTION4PROFILESANINDIANORGANIZATIONTHATHASBEENFACINGSCFCHALLENGESSECTION5STATESTHEMETHODOLOGYANDMODELDEVELOPMENTWHEREASMANAGERIALIMPLICATIONSBASEDONTHESURVEYANDMODELDEVELOPEDAREPRESENTEDINSECTION6THEPAPERISCONCLUDEDINSECTION7BYHIGHLIGHTINGTHESALIENTPOINTSOFTHESTUDY,LIMITATIONSANDFUTURESCOPEOFRESEARCHINTHISEVOLVINGFIELD2CHALLENGESFORIMPROVINGSCFINTHESUPPLYCHAIN,FINANCINGISMADEPOSSIBLEATDIFFERENTPOINTSOFTHESCBASEDONEVENT

簡(jiǎn)介：4000英文單詞，英文單詞，22萬(wàn)英文字符，萬(wàn)英文字符，6950漢字漢字文獻(xiàn)出處文獻(xiàn)出處TURANSSFINANCIALINNOVATIONCROWDFUNDINGFRIENDORFOEJPROCEDIASOCIALANDBEHAVIORALSCIENCES,2015,195353362FINANCIALINNOVATIONCROWDFUNDINGFRIENDORFOESEMENSONTURANABSTRACTAPHENOMENONWITHACONSIDERABLEPAST,ANDWITHNEWCONSPICUOUSINVESTMENTMODELSANDFINANCIALPRODUCTSANDSERVICESPROLIFERATEDTHROUGHTHEINTERNETFINANCIALINNOVATIONSEEMSTOBEALMOSTUBIQUITOUSTHESEDAYSWHILETHEREARENUMEROUSADVANTAGES,ESPECIALLYNOWADAYSTHROUGHTHEEXPLOITATIONOFEASILYACCESSIBLE,LOWCOSTANDCONVENIENTECOMMERCEPLATFORMS,INNOVATIONINTHEFINANCESECTORDOESNOTCOMEWITHOUTITSPERILSBANKSANDTRADITIONALFINANCIALINSTITUTIONSARELOSINGCHUNKSOFMARKETSHARETOVIRTUALINTERMEDIARIESANDINVESTORSAREOPERATINGINRELATIVELYLESSREGULATEDAND,CONSEQUENTLY,LESSSECUREENVIRONMENTSFURTHERMORE,FROMTHEPERSPECTIVEOFALLSTAKEHOLDERS,THEREISAKNIGHTIANUNCERTAINTYCOMPONENTOFTHELONGTERMRAMIFICATIONSININVESTINGINANDTHROUGHNEWLYDEVELOPEDPRODUCTSANDPLATFORMSASSUCH,ITISONLYRECENTLYTHATECONOMICHISTORYWITNESSEDTHEOUTBREAKOFTHESUBPRIMEMORTGAGECRISISCAUSEDBYTHEUNRAVELINGOFACHAINOFEVENTSINTERLINKEDTHROUGHTHEIMPRUDENTUSEOF“INNOVATIVE”DERIVATIVETRANSACTIONSINVOLVINGCREDITDEFAULTSWAPSBACKEDBYTHEINSATIABLEAPPETITEOFTHE“IRRATIONALLYEXUBERANT”INVESTORANDTHEEASEMENTOFREGULATIONPAVINGTHELEEWAYFORPREDATORYLENDINGTHISPAPERINVESTIGATESWHETHERANDTOWHATEXTENTINNOVATIVEINVESTMENTMODELSSUCHASCROWDFUNDING,ASTHEGAMECHANGER,FORCINGTHETIGHTLYREGULATEDSECURITIESMARKETSTOADAPTTOTHERULESOFTHEWEB30ERAANDRELIEVEDTHROUGHTHEPROVISION,TITLEIII,OFTHEJOBSACT,COULDBEAPOTENTIALPERILTOTHATEND,ITDISCUSSESTHEEVOLUTIONOFTHEEQUITYCROWDFUNDINGMODELINTHEREALMOFTHETECHNOLOGYPUSHDEMANDPULLFRAMEWORKANDANALYZESTHECURRENTSITUATIONOFTHEMARKETKEYWORDSINNOVATIVEINVESTMENTMODELSCROWDFUNDINGTECHNOLOGYPUSHDEMANDPULLFINANCIALINNOVATIONJOBSACT1INTRODUCTIONCROWDFUNDING“CF”,ALSOCALLEDCROWDINVESTING,REPRESENTSAFAIRLYNEWSOURCEOFEARLYSTAGEVENTUREFUNDING,WHEREALARGENUMBEROFPEOPLEAREVIRALLYMOBILIZEDTHROUGHANONLINEDONATIONORINVESTMENTBASEDMODEL,TOCONTRIBUTEDURINGAGIVENTIMEPERIOD,RELATIVELYSMALLPORTIONSOFFUNDSWITHTHEAIMOFSUPPORTINGACAUSE,PROJECTORBUSINESSVENTUREDONATIONBASEDMODELSAREEITHERSETUPTOFACILITATEPHILANTHROPICGIVINGORTOPROVIDENONMATERIALREWARDSTOTHEDONORS,WHEREASINVESTMENTBASEDMODELSOFFERACLAIMTOADEBTORASHAREOFEQUITYORAPORTIONOFPROFITORREVENUEINEXCHANGEFORTHECONTRIBUTIONOFTHEINVESTORALSOREFERREDTOASTHEBACKERTHOUGHTHEHISTORYOFCOLLECTIVEFUNDRAISINGGOESBACKASFARASTHE18THCENTURYSUBSCRIPTIONOR“PRAENUMERATION”MODELUSEDTOFINANCETHEPRINTINGOFBOOKSCORSTEN,1991,THEMORPHEDPRACTICEOFRAISINGCAPITALTHROUGHONLINECOMMUNITIESFORMEDBY“SHEERSTRANGERS”,WHOMAYORMAYNOTBESOPHISTICATEDINVESTORSDEPENDINGONTHELEGALRESTRICTIONSOFTHEIRHOMECOUNTRY,AREROOTEDINTHEDONATIONBASEDMODELSPEARHEADEDBYAROCKBAND’SFANFUNDEDREUNIONTOURIN1997FEINBERG,2013WITHITSTREMENDOUSGROWTHWORLDWIDE,CFINCREASEDFROM21TO143FROM2007TO2011,ANDTHEEQUITYCROWDFUNDING“EC”SHAREOFTHECFPIEINCREASEDTHREEFOLD,REACHING15DURINGTHESAMEPERIODSTATISTA,2014THERAPIDEVOLUTIONARYPACEOFTODAY’SSOCIALNETWORKENGINESTHATFACILITATEINVESTORSANDLOOSEREGULATORYCONTROL,INITSAFTERMATH,CREATEDAMORECHALLENGINGLENDINGENVIRONMENT,ORA“FUNDINGGAP”,ESPECIALLYFORSMESANDNEWVENTURESINNEEDFORTHESEFUNDSTHE“DEMANDPULL”FACTORBUSINESSANGELS,AND,ATLATTERSTAGES,VENTURECAPITALISTSPARTIALLYSERVEDASREMEDY,HOWEVER,ONLYTOTHELUCKYFEWOFENTREPRENEURSWHOHADTHEAWARENESSOFTHEIREXISTENCE,THECOMMUNICATIONSKILLSTOACCESSTHEMANDMAKETHEIR“PITCH”TOTHESEORGANIZEDGROUPSOFINVESTORSONTHECONTRARY,ONLINEINVESTMENTPLATFORMSTHE“TECHNOLOGYPUSH”FACTORRELIEVEBOTHINVESTORSANDENTREPRENEURSFROMTHEBURDENSOFTHETRADITIONALEARLYSTAGEINVESTMENTPROCESSBYPROVIDINGQUICK,EASYANDLOWCOSTACCESSTOAVARIETYOFPROJECTS,INATRANSPARENTSETTINGFACILITATEDBYATHIRDPARTYTHEIMPORTANCEOFANGELINVESTORSHASINCREASEDINRECENTYEARSGIVENTHEDIFFICULTIESYOUNGINNOVATIVEFIRMSFACEINSECURINGFINANCEFROMOTHERCHANNELSWILSON,2011MEANWHILE,VENTURECAPITALFIRMSAREPAYINGMOREATTENTIONTOLATERSTAGEINVESTMENTS,AND,COUPLEDWITHTHEPOST2008CRISISGROWINGDEMANDFORCHEAPANDACCESSIBLEFUNDS,HAVELEFTASIGNIFICANTFUNDINGGAPATTHESEEDANDEARLYSTAGEANGELINVESTORS,OPERATEINTHISINVESTMENTSEGMENTANDTHUSHELPTOFILLTHISINCREASINGGAPECDEPARTSFROMTHEMODELSOFTRADITIONALANGELINVESTORSANDVENTURECAPITALFIRMSSINCETRANSACTIONSAREINTERMEDIATEDBYANONLINEPLATFORMSOMEPLATFORMSAREMOREACTIVEINSCREENINGANDEVALUATINGCOMPANIESTHANOTHERSALSO,THEIRROLEDURINGTHEINVESTMENTANDPOSTINVESTMENTSTAGESCANVARYSIGNIFICANTLYECPLATFORMS,INGENERAL,FOLLOWTHEPHASESDESCRIBEDINTHISPAPER3STAKEHOLDERRISKSTHEREARETHREEDIRECTSTAKEHOLDERSTOTHEECMODELTHEENTREPRENEUR,THEINVESTOR,ANDTHEECPLATFORMTHESEPLAYERSMAYNOTBEFULLYAWAREOFTHEIMMEDIATEANDLONGTERMRISKSTHEYHAVETOBEARPRIORTO,DURING,ANDINTHEAFTERMATHOFTHEECPROCESSSOMEENTREPRENEURSDONOTFULLYCOMPREHENDTHEUNIQUECHALLENGESTHATGOINGDOWNTHEECROUTECANBRINGINVESTORS,ESPECIALLYUNSOPHISTICATEDONES,MAYUNDERESTIMATETHERISKSASSOCIATEDWITHHIGHRISKINVESTMENTSORMISREADSIGNALSECPLATFORMS,ONTHEOTHERHAND,CARRYTHEBURDENOFACTING,BOTH,ASANINVESTMENTBANKANDANAUDITORFROMALEGALSTANDPOINT,THEINVESTORBUYSASTAKEINTHECOMPANY,WHERETHEVALUEOFTHEVENTUREMUSTBEESTIMATEDINADVANCE,ATASKEXTREMELYDIFFICULTFORACOMPANYWITHNOTRACKRECORDMANYMORECOMPLEXITIESPOSEPROBLEMSTHATAREDISTINCTANDMOREFUNDAMENTALTHANTHOSEOFOTHERCFMODELSANDWHILE,THEREISANINCREASINGAMOUNTOFPAPERSDISCUSSINGTHEBENEFITSOFEC,LITTLEISKNOWNABOUTTHERISKS,MOSTPROBABLYATTRIBUTABLETODATASCARCITYANDSHORTHISTORICALRECORDSOFECPROJECTSHOWEVER,THEMARKETISEXPANDINGQUICKLYANDISLIKELYTOBECOMELARGERWITHJOBSACTBECOMINGEFFECTIVEINTHEUSFIG1SHOWSHOWMUCHRISKEACHIMMEDIATESTAKEHOLDERISEXPOSEDTODURINGTHELIFECYCLEOFTHEECPROCESSWHILETHEINVESTORANDTHEECPLATFORMCARRYRELATIVELYHIGHERRISKDURINGTHEPRELAUNCHPERIOD,THISRISKCHANGESININTENSITYANDTYPEASTHEECPROCESSEVOLVES

簡(jiǎn)介：PROCEDIASOCIALANDBEHAVIORALSCIENCES2052015542–549AVAILABLEONLINEATWWWSCIENCEDIRECTCOM18770428?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDTHISISANOPENACCESSARTICLEUNDERTHECCBYNCNDLICENSEHTTP//CREATIVECOMMONSORG/LICENSES/BYNCND/40/PEERREVIEWUNDERRESPONSIBILITYOFACADEMICWORLDRESEARCHANDEDUCATIONCENTERDOI101016/JSBSPRO201509071SCIENCEDIRECT6THWORLDCONFERENCEONPSYCHOLOGYCOUNSELINGANDGUIDANCE,1416MAY2015INVESTIGATINGTHEFINANCIALANDLEGALSECURITYINFRASTRUCTUREAFFECTINGTHEELECTRONICMARKETINGOFAGRICULTURALPRODUCTSINILAMPROVINCEMOHAMMADBAGHERARAYESHAAASSISTANTPROFESSOROFAGRICULTURALEXTENSIONANDEDUCATION,ILAMBRANCH,ISLAMICAZADUNIVERSITY,6931133145ILAM,IRANABSTRACTTHISSTUDYHASBEENCARRIEDOUTTOINVESTIGATEFINANCIALANDLEGALSECURITYINFRASTRUCTURESAFFECTINGTHEELECTRONICMARKETINGOFAGRICULTURALPRODUCTSFROMTHEPOINTOFVIEWOFJIHADAGRICULTURALORGANIZATIONEXPERTSOFILAMPROVINCETHROUGHASURVEYDESCRIPTIVEFRAMEWORKTHECURRENTRESEARCHISCONSIDEREDANAPPLIEDONEREGARDINGTHEOBJECTIVESANDAFIELDRESEARCHREGARDINGTHEDATAGATHERINGMETHODALSOITISANEMPIRICALSTUDYDUETOTHEFACTTHATTHEINDEPENDENTVARIABLESARENOTCOMPLETELYPOSSIBLEREGARDINGTHEMETHODOLOGYOFTHESTUDYITISCONSIDEREDACAUSALONETHESTATISTICALPOPULATIONOFTHECURRENTSTUDYINCLUDESALLTHEEXPERTSWORKINGATTHEJIHADORGANIZATIONFORAGRICULTUREINILAMPROVINCEWHICHADDUPTO463THESAMPLESIZEWAS210PARTICIPANTS,WHICHWASCALCULATEDBYTHECOCHRAN’SFORMULAANDTHESTRATIFIEDRANDOMSAMPLINGMETHODTHESAMPLEWASASKEDTOFILLOUTAQUESTIONNAIREASAMEANSOFGATHERINGTHEREQUIREDDATAINORDERTOCONFIRMTHESTABILITYOFTHEQUESTIONNAIRETHECRONBACH’SALPHACOEFFICIENTWASUSEDWHICHWASCALCULATEDTOBE0884,ANACCEPTABLERANGETHEVALIDITYOFTHEQUESTIONNAIREWASCONFIRMEDBYTHEEXPERTSRELATEDTOTHEFIELDTHEDATAANALYSISWASCARRIEDOUTUSINGSPSSSOFTWAREAPPLICATIONVERSION19THERESULTSOFTHESTUDYSHOWEDTHATTHERESEEMSTOBEASIGNIFICANTRELATIONSHIPBETWEENTHEFINANCIALANDLEGALSECURITYVARIABLESWITHTHEVARIABLEOFELECTRONICMARKETINGOFAGRICULTURALPRODUCTSINILAMPROVINCESOTHATTHETHREEINDEPENDENTVARIABLESWEREABLETOEXPLAIN48PERCENTOFTHEVARIANCERELATEDTOTHEELECTRONICMARKETINGOFTHEAGRICULTURALPRODUCTSINILAMPROVINCE?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDPEERREVIEWUNDERRESPONSIBILITYOFACADEMICWORLDRESEARCHANDEDUCATIONCENTERKEYWORDSELECTRONICMARKETING,AGRICULTURE,FINANCIALINFRASTRUCTURE,LEGALSECURITYINFRASTRUCTUREMOHAMMADBAGHERARAYESHTEL9884333352087FAX9884333352087EMAILADDRESSARAYESHBGMAILCOM?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDTHISISANOPENACCESSARTICLEUNDERTHECCBYNCNDLICENSEHTTP//CREATIVECOMMONSORG/LICENSES/BYNCND/40/PEERREVIEWUNDERRESPONSIBILITYOFACADEMICWORLDRESEARCHANDEDUCATIONCENTER544MOHAMMADBAGHERARAYESH/PROCEDIASOCIALANDBEHAVIORALSCIENCES2052015542–549MARKETINGCOMESINDIFFERENTTYPESINCLUDINGEXCHANGEMARKETING,DATABASEMARKETING,INTERACTIVEMARKETINGANDTHENETWORKMARKETINGWITHTHEDAWNOFINTERNETANDECOMMERCE,THEFIFTHKINDOFMARKETING,EMARKETING,WASINTRODUCEDEMARKETINGISDEFINEDASTHEPROCESSOFUSINGINTERNETANDOTHERCOMMUNICATIONTECHNOLOGIESASAMEANSOFCONNECTINGTHESELLERANDTHECUSTOMERSBRODIETAL,2007AGRICULTURALEMARKETINGWILLGREATLYHELPTHEOMISSIONOFMIDDLEMEN,DECREASINGTHECOSTSANDFINDINGTHECUSTOMERSTHEMAJORITYOFTHEFARMERSOWNSMALLFARMSANDTHEYHAVEATIGHTBUDGETHENCETHEMOSTIMPORTANTISSUEHEREISHOWTODESIGNINSYSTEMWHICHHELPSTHEFARMERSTOELECTRONICALLYSELLTHEIRPRODUCEDCROPSWOUN,2007USINGTHEINFORMATIONTECHNOLOGYINDIFFERENTECONOMICSECTORSINCLUDINGTHEAGRICULTURALSECTORISGAININGMUCHMOREDRIVINGFORCEINMANYDIFFERENTCOUNTRIESFORINSTANCEINSOUTHKOREA56PERCENT,INSINGAPORE50PERCENT,INCUBA45PERCENTANDINEGYPT20PERCENTOFTHEFARMERSUSETHEINFORMATIONTECHNOLOGYTOOLSSUCHASINTERNETINTHEIRCAREERUNCTAD,2010BUTUNFORTUNATELYTHEECONOMYOFIRANBEARSADEEPDIGITALGAPWITHTHEAVERAGEWORLDECONOMYIN2010IRAN’SRANKINDIGITALECONOMYWAS69ANDINTHERANKRELATEDTOELECTRONICGOVERNMENTITLANDEDONTHE102STAGEOFTHEWORLDEIU,2010DIGITALECONOMYISASETOFSIXMEASURESINCLUDINGTHECOMMUNICATIONINDEX,THECOMMERCEINDEX,SOCIOCULTURALINDEX,LEGALINDEX,GOVERNMENTPOLICYINDEXANDUSERSENTERPRISESINDEXELECTRONICGOVERNMENTISASETOFTHREEINDICESINCLUDINGCOMMUNICATIONINDEXLANDLINE,MOBILE,INTERNETACCESSANDBANDWIDTH,ONLINESERVICESINDEXANDHUMANRESOURCESINDEXALAVIOUN,2012HENCEREGARDINGTHEFACTTHATINMODERNDAYSTHEREARESIGNIFICANTDEVELOPMENTSINTHEINFORMATIONTECHNOLOGYFIELD,MANYSERVICEENTERPRISESPROVIDETHEIRGOODSTHROUGHINTERNET,ONTHEOTHERHANDWITHTHEWIDESPREADGLOBALTRADE,IRANHAVETOEMBRACETHEELECTRONICSERVICESINORDERTOSTAYUPTODATEWITHTHEGLOBALPLAYERSBECAUSETHEGLOBALCONDITIONSDICTATETHATSERVICEANDGOODSDISTRIBUTIONSYSTEMSSHOULDBEBASEDONINFORMATIONTECHNOLOGYANDASMENTIONEDBEFOREINTODAY’SWORLDTHECUSTOMERPREFERACQUIRINGDIFFERENTSERVICESUSINGELECTRONICMEANSANDTHEDEVELOPMENTOFEMARKETINGHASBEENINFLUENCINGTHECOMMERCIALAGRICULTURALPRODUCTSASWELLSOINTHISSTUDY,WITHASPECIALATTENTIONTOTHEIMPORTANCEOFAGRICULTURALPRODUCTSMARKETING,USINGTHISTECHNOLOGYINMARKETINGISDEALTWITHFROMTHREEPOINTSOFVIEWNAMELYTECHNICAL,MANAGERIALANDCOMMUNICATIVEASPECTSOFAGRICULTURALPRODUCTSINILAMPROVINCEHOWEVERSINCEAGRICULTURALPRODUCTSMARKETINGINCLUDESALLTHEOPERATIONSANDSERVICESWHICHACCOMPANYTHEPRODUCTSFROMTHEFARMSTOTHECONSUMINGCENTERS,STUDYINGMARKETINGNEEDSACERTAINFRAMEWORKONEOFTHEMOSTCOMMONISTHEPRACTICALAPPROACHWHICHCATEGORIZESMARKETINGACTIVITIESINTOEXCHANGEACTIVITIES,PHYSICALACTIVITIESANDFACILITATIVEACTIVITIESEXCHANGEACTIVITIESINCLUDEBUYINGANDSELLING,PHYSICALACTIVITIESINCLUDEINVENTORY,CONVERSIONANDTRANSPORTATIONANDFINALLYFACILITATIVEACTIVITIESINCLUDEGRADING,STANDARDIZATIONANDPACKAGINGABYARANDZAAD,2007HENCEWEDECIDEDTOSTUDYDIFFERENTASPECTSOFTHISISSUEREGARDINGTHEIMPORTANCEANDPOSITIONOFTHEAGRICULTURALSECTORINTHENATIONALANDPROVINCIALDEVELOPMENTASWELLASISSUESRELATEDTOAGRICULTURALPRODUCTSMARKETINGWEHOPETHATTHERESULTSOFTHECURRENTSTUDYCANPROVIDEGUIDELINESFORDESIGNERS,PLANNERSANDPOLICYMAKERSFORIMPROVINGTHEAGRICULTURALCONDITIONSOFTHEREGIONANDALSOREALIZINGTHEOBJECTIVESOFRURALDEVELOPMENTHENCETHEMAINQUESTIONOFTHECURRENTSTUDYISTHATHOWMUCHCANTHEFINANCIALANDLEGALSECURITYINFRASTRUCTURESBEEFFECTIVEINTHEEMARKETINGOFAGRICULTURALPRODUCTS2LITERATUREREVIEWANDHYPOTHESES21LITERATUREREVIEWREGARDINGTHETOPICOFTHECURRENTSTUDY,SEVERALTHEORETICALANDEMPIRICALRESEARCHESHAVEBEENCARRIEDOUTWHICHGENERALLYONLYBRIEFLYDEALWITHTHESUBJECTINTHEFOLLOWINGSECTIONSOMEOFTHESESTUDIESAREMENTIONEDALAVIANETAL2012INASTUDYWITHTHEOBJECTIVETOEVALUATETHEFEASIBILITYOFEMARKETINGRICEINRASHTCITYDISTRICTSHOWEDTHATAROUND80PERCENTOFICTOFFICEMANAGERSAND68PERCENTOFPADDYCULTIVATORSHAVEAHIGHTENDENCYOFUSINGEMARKETINGFORTHERICECROPANDMORETHAN70PERCENTOFTHEPARTICIPANTSCHOSEICTOFFICENETWORKSASTHEBESTOPTIONFOREMARKETINGFINALLYBASEDONTHERESULTSOFTHESTUDYTWOMODELSWEREPROPOSEDTHEFIRSTMODELOFEXCHANGEBETWEENTHEFARMERANDTHECUSTOMERSINVOLVESAWEBSITEFORCATALOGUESELLINGANDTHESECONDMODELISCARRYINGOUTTHEEXCHANGEUSINGTHEICTOFFICESASTHEMIDDLEMANBETWEENTHEFARMERANDTHECUSTOMERSRURALICTOFFICESHADAMIDDLEMANROLEINBOTHOFTHEMODELSFORCARRYINGOUTTHEBUYINGANDSELLINGPROCESSESMIRAANDNAJAFI2009INVESTIGATEDANDANALYZEDTHEPENETRATIONANDSUCCESSFACTORSASWELLASTHECHALLENGESANDBARRIERSOFEMARKETINGUSINGSHORTMESSAGESERVICESMSTHEYCONCLUDEDTHATADVERTISEMENTIS

簡(jiǎn)介：PROCEDIASOCIALANDBEHAVIORALSCIENCES1952015353–362AVAILABLEONLINEATWWWSCIENCEDIRECTCOMSCIENCEDIRECT18770428?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDTHISISANOPENACCESSARTICLEUNDERTHECCBYNCNDLICENSEHTTP//CREATIVECOMMONSORG/LICENSES/BYNCND/40/PEERREVIEWUNDERRESPONSIBILITYOFISTANBULUNIVERISTYDOI101016/JSBSPRO201506334WORLDCONFERENCEONTECHNOLOGY,INNOVATIONANDENTREPRENEURSHIPFINANCIALINNOVATIONCROWDFUNDINGFRIENDORFOESEMENSONTURANAAABSTRACTMEFUNIVERSITY,ISTANBUL,TURKEYAPHENOMENONWITHACONSIDERABLEPAST,ANDWITHNEWCONSPICUOUSINVESTMENTMODELSANDFINANCIALPRODUCTSANDSERVICESPROLIFERATEDTHROUGHTHEINTERNETFINANCIALINNOVATIONSEEMSTOBEALMOSTUBIQUITOUSTHESEDAYSWHILETHEREARENUMEROUSADVANTAGES,ESPECIALLYNOWADAYSTHROUGHTHEEXPLOITATIONOFEASILYACCESSIBLE,LOWCOSTANDCONVENIENTECOMMERCEPLATFORMS,INNOVATIONINTHEFINANCESECTORDOESNOTCOMEWITHOUTITSPERILSBANKSANDTRADITIONALFINANCIALINSTITUTIONSARELOSINGCHUNKSOFMARKETSHARETOVIRTUALINTERMEDIARIESANDINVESTORSAREOPERATINGINRELATIVELYLESSREGULATEDAND,CONSEQUENTLY,LESSSECUREENVIRONMENTSFURTHERMORE,FROMTHEPERSPECTIVEOFALLSTAKEHOLDERS,THEREISAKNIGHTIANUNCERTAINTYCOMPONENTOFTHELONGTERMRAMIFICATIONSININVESTINGINANDTHROUGHNEWLYDEVELOPEDPRODUCTSANDPLATFORMSASSUCH,ITISONLYRECENTLYTHATECONOMICHISTORYWITNESSEDTHEOUTBREAKOFTHESUBPRIMEMORTGAGECRISISCAUSEDBYTHEUNRAVELINGOFACHAINOFEVENTSINTERLINKEDTHROUGHTHEIMPRUDENTUSEOF“INNOVATIVE”DERIVATIVETRANSACTIONSINVOLVINGCREDITDEFAULTSWAPSBACKEDBYTHEINSATIABLEAPPETITEOFTHE“IRRATIONALLYEXUBERANT”INVESTORANDTHEEASEMENTOFREGULATIONPAVINGTHELEEWAYFORPREDATORYLENDINGTHISPAPERINVESTIGATESWHETHERANDTOWHATEXTENTINNOVATIVEINVESTMENTMODELSSUCHASCROWDFUNDING,ASTHEGAMECHANGER,FORCINGTHETIGHTLYREGULATEDSECURITIESMARKETSTOADAPTTOTHERULESOFTHEWEB30ERAANDRELIEVEDTHROUGHTHEPROVISION,TITLEIII,OFTHEJOBSACT,COULDBEAPOTENTIALPERILTOTHATEND,ITDISCUSSESTHEEVOLUTIONOFTHEEQUITYCROWDFUNDINGMODELINTHEREALMOFTHETECHNOLOGYPUSHDEMANDPULLFRAMEWORKANDANALYZESTHECURRENTSITUATIONOFTHEMARKET?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDPEERREVIEWUNDERRESPONSIBILITYOFISTANBULUNIVERSITYKEYWORDSINNOVATIVEINVESTMENTMODELSCROWDFUNDINGTECHNOLOGYPUSHDEMANDPULLFINANCIALINNOVATIONJOBSACTCORRESPONDINGAUTHORTEL902123953600EMAILADDRESSSEMENSONMEFEDUTR?2015THEAUTHORSPUBLISHEDBYELSEVIERLTDTHISISANOPENACCESSARTICLEUNDERTHECCBYNCNDLICENSEHTTP//CREATIVECOMMONSORG/LICENSES/BYNCND/40/PEERREVIEWUNDERRESPONSIBILITYOFISTANBULUNIVERISTY355SEMENSONTURAN/PROCEDIASOCIALANDBEHAVIORALSCIENCES1952015353–362THEREWITH,ECWILLMOSTLIKELYPOSEATHREATTOTRADITIONALINVESTMENTPRODUCTSOFFEREDTHROUGHMATUREFINANCIALSERVICESINDUSTRYINTERMEDIARIESACCORDINGTOFINANCETHEORY,THEHIGHERTHERISKSATTACHEDTOACERTAINCASHFLOW,THEHIGHERSHOULDTHECOMPENSATIONBEINTHEFORMOFHIGHERRETURNSEC,WITHITSVERYSHORTTRACKRECORDANDHUGESHARESOFNONFINALIZEDORUNSUCCESSFULPROJECTS,INHERENTLY,CONTAINSHUGEINCALCULABLERISKSITISTHISKNIGHTIANUNCERTAINTYCOMPONENTASSOCIATEDWITHLONGRUNIMPLICATIONSOFFINANCIALINNOVATIONSANDTHERISKEXPOSUREFACEDBYIMMEDIATEECSTAKEHOLDERSTHATISBEINGEXPLOREDINTHISPAPERSOTHENISECAMEANSTOWARDSTHE“DEMOCRATIZATION”O(jiān)FFINANCEORTHESWORDOFDAMOCLESHANGINGOVERTHEHEADOFALLTHOSEINVOLVEDTOTHEBESTMYKNOWLEDGE,LITTLEISKNOWNABOUTTHERISKINESSASSOCIATEDWITHCFANDNOSTUDY,ASOFYET,HASADDRESSEDTHERISKSFROMASTAKEHOLDERS’PERSPECTIVEDURINGEACHSTAGEOFTHELIFECYCLEOFATYPICALECPROCESS2THEORETICALFRAMEWORKANDTHEECMARKETRESEARCHONCFISBEGINNINGTOEMERGE,THOUGHITMOSTLYFOCUSESONDONATIONBASEDFUNDINGMOLLICK,2014THETECHNOLOGYPUSHDEMANDPULLFRAMEWORKOFFERSAVIABLEEXPLANATIONFORTHESURGEINECPLATFORMSTHESUBPRIMEMORTGAGECRISIS,WHICHWASTRIGGEREDBYIMPRUDENTLENDINGPRACTICESOFGREEDYINVESTORSANDLOOSEREGULATORYCONTROL,INITSAFTERMATH,CREATEDAMORECHALLENGINGLENDINGENVIRONMENT,ORA“FUNDINGGAP”,ESPECIALLYFORSMESANDNEWVENTURESINNEEDFORTHESEFUNDSTHE“DEMANDPULL”FACTORBUSINESSANGELS,AND,ATLATTERSTAGES,VENTURECAPITALISTSPARTIALLYSERVEDASREMEDY,HOWEVER,ONLYTOTHELUCKYFEWOFENTREPRENEURSWHOHADTHEAWARENESSOFTHEIREXISTENCE,THECOMMUNICATIONSKILLSTOACCESSTHEMANDMAKETHEIR“PITCH”TOTHESEORGANIZEDGROUPSOFINVESTORSONTHECONTRARY,ONLINEINVESTMENTPLATFORMSTHE“TECHNOLOGYPUSH”FACTORRELIEVEBOTHINVESTORSANDENTREPRENEURSFROMTHEBURDENSOFTHETRADITIONALEARLYSTAGEINVESTMENTPROCESSBYPROVIDINGQUICK,EASYANDLOWCOSTACCESSTOAVARIETYOFPROJECTS,INATRANSPARENTSETTINGFACILITATEDBYATHIRDPARTYTHEIMPORTANCEOFANGELINVESTORSHASINCREASEDINRECENTYEARSGIVENTHEDIFFICULTIESYOUNGINNOVATIVEFIRMSFACEINSECURINGFINANCEFROMOTHERCHANNELSWILSON,2011MEANWHILE,VENTURECAPITALFIRMSAREPAYINGMOREATTENTIONTOLATERSTAGEINVESTMENTS,AND,COUPLEDWITHTHEPOST2008CRISISGROWINGDEMANDFORCHEAPANDACCESSIBLEFUNDS,HAVELEFTASIGNIFICANTFUNDINGGAPATTHESEEDANDEARLYSTAGEANGELINVESTORS,OPERATEINTHISINVESTMENTSEGMENTANDTHUSHELPTOFILLTHISINCREASINGGAPECDEPARTSFROMTHEMODELSOFTRADITIONALANGELINVESTORSANDVENTURECAPITALFIRMSSINCETRANSACTIONSAREINTERMEDIATEDBYANONLINEPLATFORMSOMEPLATFORMSAREMOREACTIVEINSCREENINGANDEVALUATINGCOMPANIESTHANOTHERSALSO,THEIRROLEDURINGTHEINVESTMENTANDPOSTINVESTMENTSTAGESCANVARYSIGNIFICANTLYECPLATFORMS,INGENERAL,FOLLOWTHEPHASESDESCRIBEDINTHISPAPER3STAKEHOLDERRISKSTHEREARETHREEDIRECTSTAKEHOLDERSTOTHEECMODELTHEENTREPRENEUR,THEINVESTOR,ANDTHEECPLATFORMTHESEPLAYERSMAYNOTBEFULLYAWAREOFTHEIMMEDIATEANDLONGTERMRISKSTHEYHAVETOBEARPRIORTO,DURING,ANDINTHEAFTERMATHOFTHEECPROCESSSOMEENTREPRENEURSDONOTFULLYCOMPREHENDTHEUNIQUECHALLENGESTHATGOINGDOWNTHEECROUTECANBRINGINVESTORS,ESPECIALLYUNSOPHISTICATEDONES,MAYUNDERESTIMATETHERISKSASSOCIATEDWITHHIGHRISKINVESTMENTSORMISREADSIGNALSECPLATFORMS,ONTHEOTHERHAND,CARRYTHEBURDENOFACTING,BOTH,ASANINVESTMENTBANKANDANAUDITORFROMALEGALSTANDPOINT,THEINVESTORBUYSASTAKEINTHECOMPANY,WHERETHEVALUEOFTHEVENTUREMUSTBEESTIMATEDINADVANCE,ATASKEXTREMELYDIFFICULTFORACOMPANYWITHNOTRACKRECORDMANYMORECOMPLEXITIESPOSEPROBLEMSTHATAREDISTINCTANDMOREFUNDAMENTALTHANTHOSEOFOTHERCFMODELSANDWHILE,THEREISANINCREASINGAMOUNTOFPAPERSDISCUSSINGTHEBENEFITSOFEC,LITTLEISKNOWNABOUTTHERISKS,MOSTPROBABLYATTRIBUTABLETODATA

簡(jiǎn)介：4800英文單詞，英文單詞，26500英文字符，中文英文字符，中文8200字文獻(xiàn)出處文獻(xiàn)出處BACHMANNA,BECKERA,BUERCKNERD,ETALONLINEPEERTOPEERLENDINGALITERATUREREVIEWJJOURNALOFINTERNETBANKINGLITERATUREREVIEWDETERMINANTSOFFUNDINGSUCCESSFINANCIALCHARACTERISTICSDEMOGRAPHICCHARACTERISTICSGROUPINTERMEDIATIONINTRODUCTIONWITHTHEUPCOMINGPOPULARITYOFONLINECOMMUNITIESINTHEPASTDECADEANEWWAYOFLOANORIGINATIONHASENTEREDTHECREDITMARKETONLINEPEERTOPEERP2PLENDINGITTRANSFERSTHEOLDIDEAOFPERSONALCREDITSINTOTHEWORLDWIDEWEBINTHISKINDOFLENDINGMODELTHEMEDIATIONOFFINANCIALINSTITUTIONSISNOTREQUIREDHERZENSTEINETAL,2008GALLOWAY,2009THEDECISIONPROCESSOFLOANORIGINATIONISGIVENINTOTHEHANDOFPRIVATELENDERSANDBORROWERS,ANDWEBSITESLIKEPROSPERCOMOFFERTHEMAPLATFORMTOENGAGEWITHEACHOTHERWITHINTHESEPLATFORMSBORROWERSGENERALLYDESCRIBETHEPURPOSEOFTHEIRLOANREQUESTANDPROVIDEINFORMATIONABOUTTHEIRCURRENTFINANCIALSITUATION,LIKEINCOMEOROPENCREDITLINESLENDERSTHENHAVETHEOPPORTUNITYTOOFFERALOANWITHANINTERESTRATEDERIVEDUPONTHISINFORMATIONFORBORROWERS,ONLINEP2PLENDINGISAWAYTORECEIVEALOANWITHOUTAFINANCIALINSTITUTIONINVOLVEDINTHEDECISIONPROCESSANDMIGHTALSOBEAPOSSIBILITYTORECEIVEBETTERCONDITIONSTHANINTHETRADITIONALBANKINGSYSTEMFORLENDERSITCANBESEENASANINVESTMENTMODELWHERETHEINVESTMENTRISKISCOUPLEDTOTHECREDITRATINGOFTHEFUNDEDLOANSTHEPLATFORMSTHEMSELVESOFTENBENEFITBYRAISINGFEESFORSUCCESSFULREALIZEDTRANSACTIONSGALLOWAY,2009ALTHOUGHONLINEP2PLENDINGISARELATIVELYYOUNGFIELDOFRESEARCHANINCREASINGAMOUNTOFSCIENTIFICCONTRIBUTIONSHASBEENPUBLISHEDINRECENTYEARSIYER,KHWAJA,LUTTMER,POPERAVINA,2007WITHTHEEMERGENCEOFTHEFIRSTONLINEP2PLENDINGPLATFORM“ZOPA”THENEWLENDINGMODELRAISEDATTENTIONFORTHEFIRSTTIMEINTHEYEAR2006HULMEIYERETAL,2009WHILELENDERSSEEKOPPORTUNITIESTOINVESTMONEY

簡(jiǎn)介：點(diǎn)擊查看更多外文翻譯--股利源于金融危機(jī)的背景下美國(guó)銀行控股公司的證據(jù)精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多外文翻譯--稅制優(yōu)惠對(duì)金融危機(jī)的影響精彩內(nèi)容。

簡(jiǎn)介：JOURNALOFINTERNETBANKINGANDCOMMERCEANOPENACCESSINTERNETJOURNALHTTP//WWWARRAYDEVCOM/COMMERCE/JIBC/JOURNALOFINTERNETBANKINGANDCOMMERCE,AUGUST2011,VOL16,NO2HTTP//WWWARRAYDEVCOM/COMMERCE/JIBC/ONLINEPEERTOPEERLENDING–ALITERATUREREVIEWALEXANDERBACHMANNALEXANDERBACHMANNSTUDLEUPHANADE,ALEXANDERBECKERALEXANDERBECKERSTUDLEUPHANADE,DANIELBUERCKNERDANIELBUERCKNERSTUDLEUPHANADE,MICHELHILKERMICHELBHILKERSTUDLEUPHANADE,FRANKKOCKFRANKKOCKSTUDLEUPHANADE,MARKLEHMANNMARKLEHMANNSTUDLEUPHANADEPHILLIPTIBURTIUSPHILLIPTIBURTIUSUNILEUPHANADEALLAUTHORSMENTIONEDABOVEAREGRADUATESTUDENTSATTHELEUPHANAUNIVERSITYINLüNEBURG,GERMANY,INTHEFIELDMANAGEMENTANDENTREPRENEURSHIPBURKHARDTFUNKFULLPROFESSOR,LEUPHANAUNIVERSITY,LüNEBURG,GERMANYPOSTALADDRESSSCHARNHORSTSTRA?E1,21335LüNEBURG,GERMANYEMAILFUNKUNILEUPHANADEBURKHARDTFUNKISAFULLPROFESSORINTHEFIELDOFINFORMATIONSYSTEMSHISRESEARCHINTERESTSCOVERAWIDERANGEOFTOPICS,EGDECISIONMAKINGINTHECONTEXTOFECOMMERCESCENARIOSANDTHEINTEGRATIONOFERPSYSTEMSANDENVIRONMENTALMANAGEMENTINFORMATIONSYSTEMSASAMEMBEROFTHEPRESIDENTIALBOARDOFTHEUNIVERSITYHEISRESPONSIBLEFORTHEOVERALLITSTRATEGYOFTHELEUPHANAUNIVERSITYHEHASFOUNDEDSEVERALCOMPANIESANDCONSULTEDMAJOREUROPEANENTERPRISESJIBCAUGUST2011,VOL16,NO23INTRODUCTIONWITHTHEUPCOMINGPOPULARITYOFONLINECOMMUNITIESINTHEPASTDECADEANEWWAYOFLOANORIGINATIONHASENTEREDTHECREDITMARKETONLINEPEERTOPEERP2PLENDINGITTRANSFERSTHEOLDIDEAOFPERSONALCREDITSINTOTHEWORLDWIDEWEBINTHISKINDOFLENDINGMODELTHEMEDIATIONOFFINANCIALINSTITUTIONSISNOTREQUIREDHERZENSTEINETAL,2008GALLOWAY,2009THEDECISIONPROCESSOFLOANORIGINATIONISGIVENINTOTHEHANDOFPRIVATELENDERSANDBORROWERS,ANDWEBSITESLIKEPROSPERCOMOFFERTHEMAPLATFORMTOENGAGEWITHEACHOTHERWITHINTHESEPLATFORMSBORROWERSGENERALLYDESCRIBETHEPURPOSEOFTHEIRLOANREQUESTANDPROVIDEINFORMATIONABOUTTHEIRCURRENTFINANCIALSITUATION,LIKEINCOMEOROPENCREDITLINESLENDERSTHENHAVETHEOPPORTUNITYTOOFFERALOANWITHANINTERESTRATEDERIVEDUPONTHISINFORMATIONFORBORROWERS,ONLINEP2PLENDINGISAWAYTORECEIVEALOANWITHOUTAFINANCIALINSTITUTIONINVOLVEDINTHEDECISIONPROCESSANDMIGHTALSOBEAPOSSIBILITYTORECEIVEBETTERCONDITIONSTHANINTHETRADITIONALBANKINGSYSTEMFORLENDERSITCANBESEENASANINVESTMENTMODELWHERETHEINVESTMENTRISKISCOUPLEDTOTHECREDITRATINGOFTHEFUNDEDLOANSTHEPLATFORMSTHEMSELVESOFTENBENEFITBYRAISINGFEESFORSUCCESSFULREALIZEDTRANSACTIONSGALLOWAY,2009ALTHOUGHONLINEP2PLENDINGISARELATIVELYYOUNGFIELDOFRESEARCHANINCREASINGAMOUNTOFSCIENTIFICCONTRIBUTIONSHASBEENPUBLISHEDINRECENTYEARSIYER,KHWAJA,LUTTMER,POPERAVINA,2007WITHTHEEMERGENCEOFTHEFIRSTONLINEP2PLENDINGPLATFORM“ZOPA”THENEWLENDINGMODELRAISEDATTENTIONFORTHEFIRSTTIMEINTHEYEAR2006HULMEWRIGHT,2006HOWEVERITWASPROSPERCOM,WHOCAUSEDAWAVEOFSCIENTIFICCONTRIBUTIONSBYMAKINGTHEENTIREPLATFORM’SDATAPUBLICIN2007SINCETHEN,THETOPICHASATTRACTEDRESEARCHERSFROMTHEFIELDSOFECONOMICS,INFORMATIONTECHNOLOGYANDSOCIALSCIENCESTOINVESTIGATETHERELATIONSHIPSBETWEENLENDERSANDBORROWERSINONLINEP2PLENDINGPLATFORMSFOLLOWINGTHISEMERGENTRESEARCHAREA,WESAWTHENEEDFORACOMPREHENSIVELITERATUREREVIEWTHATGIVESANOVERVIEWOFTHECURRENTSTATEOFSCIENTIFICRESEARCHINP2PLENDINGITISOURGOALTOINTEGRATEDIFFERENTREPRESENTATIVERESEARCHCONTRIBUTIONSANDPROVIDEASYNOPSISOFTHEDETERMINANTSINP2PLENDINGOURMAINTARGETGROUPSAREREADERSFROMTHEINFORMATIONSYSTEMANDFINANCIALMANAGEMENTCOMMUNITIESAFTERDESCRIBINGTHEPAPERSELECTIONAPPROACHASHORTOVERVIEWOFTHEONLINEP2PLENDINGMARKETANDITSSTAKEHOLDERSISGIVENTHEMAINPARTOFTHISREVIEWCOVERSTHEDETERMINANTSINP2PLENDINGWEDIVIDETHEMINTOFINANCIALCHARACTERISTICS,ALSOCALLEDHARDFACTORS,ANDSOFTFACTORSLIKEDEMOGRAPHICCHARACTERISTICSANDGROUPINTERMEDIATIONWECONCLUDEWITHIDEASFORFUTURERESEARCHINONLINEP2PLENDINGPAPERSELECTIONINTHESUMMEROF2010WECONDUCTEDAKEYWORDSEARCHINGOOGLESCHOLARWITHTHETERMS“P2PLENDING”AND“PEERTOPEERLENDING”ANDINCLUDEDFURTHERARTICLESTHROUGHBACKWARDANDFORWARDSEARCHSINCETHETOPICISYOUNGANDMOSTJOURNALSANDCONFERENCESOPENTHEIRDATABASESFORSEARCHENGINESLIKEGOOGLESCHOLAR,WECONCLUDEDTHATANYSEARCHBIASWOULDBELIMITEDANDTHEREFOREREFRAINEDFROMAJOURNALSEARCH

簡(jiǎn)介：點(diǎn)擊查看更多外文翻譯--公共財(cái)政均等化視角下的農(nóng)村義務(wù)教育改革精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多外文文獻(xiàn)翻譯--金融銀行信用風(fēng)險(xiǎn)管理與知識(shí)管理精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多外文文獻(xiàn)翻譯---手機(jī)銀行——金融領(lǐng)域的新業(yè)務(wù)精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多國(guó)際貿(mào)易專(zhuān)業(yè)外文翻譯----金融自由化與貨幣政策東亞合作（節(jié)選）精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多互聯(lián)網(wǎng)金融，p2p網(wǎng)絡(luò)借貸--p2p借貸中的借款人決策建議精彩內(nèi)容。

簡(jiǎn)介：點(diǎn)擊查看更多[雙語(yǔ)翻譯]跨國(guó)收購(gòu)?fù)馕姆g--英國(guó)收購(gòu)者的跨境收購(gòu)和金融杠桿中英全精彩內(nèi)容。