Volume 13, Number 1, June 2023
| An analytical model for evaluating the risks of overfunding in crowdfunding using the hierarchical model |
Chun-Yueh Lin 1*, Li-Jung Lin 2
Abstract
This study introduces an evaluative framework aimed at delineating the pivotal criteria for overfunding risks in the realm of crowdfunding, employing a hierarchical model. The proposed framework amalgamates the modified Delphi method with the Analytic Hierarchy Process (AHP). Initially, the evaluative structure constructs a hierarchical arrangement comprising two overarching criteria and eight corresponding sub-criteria. Subsequently, the AHP methodology is employed to derive the relative weightings assigned to both the criteria and sub-criteria. Ultimately, the application of the multi-criteria decision-making process culminates in the identification of critical criteria for overfunding risks within crowdfunding, affording investors a vantage point encompassing financial and operational dimensions.
Within the academic context, the findings propose a multi-criteria decision-making theory, serving to ascertain the decisive criteria governing overfunding risks. In the commercial context, this study equips investors with a concise tool to discern the pivotal elements contributing to overfunding risk within the crowdfunding sphere.
Keywords: overfunding risk, modified Delphi method, AHP
1* Department of Public Finance and Tax Administration, National Taipei University of Business
( E-mail: ljy898@ntub.edu.tw)
2 Department of Public Finance and Tax Administration, National Taipei University of Business