演讲主题：Crowdfunding and (Micro-)entrepreneurship
主 讲 人：倪? 剑，约翰斯·霍普金斯大学副教授
主 持 人：杨彦武，工商管理系教授
Jian Ni（倪剑）, PhD (Industrial Administration, Tepper School of Business, Carnegie Mellon University) is an Associate Professor in the research track. He specializes in empirical and theoretical analysis of healthcare and pharmaceutical, environmental and energy, financial service, technology, and emerging markets. His work is supported by National Science Foundation, National Institute of Health, Canadian Social Sciences and Humanities Research Council, Center for Global Health, Environment, Energy, Sustainability and Health Institute, China Medical Board, among others. He has published in top business and healthcare journals. He was named a 2017 MSI Young Scholar.
Online crowdfunding, in the format of debt-based, reward-based or equity-based crowdfunding, become popular in recent years, especially enabled by big data and machine learning tools. These crowdfunding platforms facilitate (micro-)entrepreneurship for those with limited access to venture capital or formal credit systems. In 2017, about 16.2 billion US$ was raised through more than 1000 crowdfunding platforms around the globe. This rapidly expanding industry not only provides entrepreneurs opportunities to raise funds for their creative ideas but also create dynamic incentives between entrepreneurs and consumers/contributors. However, the information asymmetry and the ex-ante uncertainty about demand responses could generate disincentives on the fundraiser side and lead to higher chances of failures, which not only hurt backers, but also affect crowdfunding platforms' long-term growth. In a series of projects, I (and my collaborators) study the issues of cheap talk, entrepreneurial disincentives, and home bias in this market, and hope to provide some meaningful marketing and policy implications to facilitate entrepreneurship.