Crowdfunding in China: A New Institutional Economics Approach
In: Contributions to Management Science Ser.
Intro -- Acknowledgements -- Contents -- List of Abbreviations -- List of Figures -- List of Tables -- 1 The Matter of Crowdfunding in China -- 1.1 Motivation -- 1.2 Theory -- 1.3 Research Design and Methodology -- 1.4 Structure of This Work -- 2 Crowdfunding in the Context of New Institutional Economics -- 2.1 Theories of New Institutional Economics -- 2.1.1 Institutions, Transaction Costs and Principal-Agent-Relations -- 2.1.1.1 Institutions -- 2.1.1.2 Transaction Costs -- 2.1.1.3 Principal-Agent-Relations -- 2.1.1.4 Transaction Cost Economics -- 2.1.1.5 Characteristics of Transactions -- 2.1.1.6 Governance Structures -- 2.2 Choice of Finance -- 2.2.1 Categories of Finance -- 2.2.2 Personal Parameters Influencing the Choice of Finance -- 2.3 The Role of Financial Intermediaries -- 2.3.1 The Original Function of Financial Intermediaries -- 2.3.2 The Theory of Financialisation -- 2.4 Informal Finance as a Complement to the Formal Finance Sector -- 2.4.1 Research on Informal Finance -- 2.4.2 Features of Informal Finance -- 2.4.3 Rotating Savings and Credit Associations: A Benchmark for (Formal and Informal) Finance -- 2.5 Internet Finance and FinTech -- 3 The Concept of Crowdfunding in the West Versus in China -- 3.1 Definition and Origins of Crowdfunding -- 3.2 The Evolution and Modifications of Crowdfunding -- 3.3 Crowdfunding Research -- 3.3.1 Western Literature on Crowdfunding -- 3.3.1.1 Motivation for Applying Crowdfunding -- 3.3.1.2 Success of Crowdfunding -- 3.3.2 Chinese Literature on Crowdfunding -- 3.4 Crowdfunding and New Institutional Economics -- 3.4.1 Crowdfunding as an Institution that Rules Principal-Agent-Relations and Economises Transaction Costs -- 3.4.1.1 Principal-Agent-Relations Within a Crowdfunding Campaign -- 3.4.1.2 Transaction Costs of Crowdfunding -- 3.4.1.3 The Governance of Crowdfunding Transactions.