中文摘要：

基于扎根理论，通过对众筹模式投资者的深度访谈，探索性地研究了参与众筹整体过程中投资者感知价值的具体维度构成；并使用结构方程模型对模型的理论假设进行了实证检验，结果显示众筹投资者感知价值维度构成包括体验价值、独特价值、经济价值、回报功能价值以及项目质量价值。该研究对众筹平台及项目发起人提供服务、设计项目、设置回报和制定推广策略具有一定的指导作用。

英文摘要：

Analysing the perceived value of crowdfunding pattern investors is vital for improving the projects’ funding efficiency.Based on the methodology of Grounded Theory, in-depth interviews are conducted to find out the perceived value of investors who participate in crowdfunding pattern, and questionnaires are designed accordingly. Equation modeling is undertaken to empirically test hypothesis. Findings show that the factual dimension construction of Chinese crowdfunding investors’ perceived value comprises experience value, unique value, economic value, return functional value and project quality value. The research can be used for guiding the crowdfunding service provision, the project presentation, the setting of rewards and the promotion strategy.