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The Small & Middle-Sized Enterprises Financing Behavior And Commercial Banks' Institutional & Operational Innovation

Posted on:2004-09-14Degree:DoctorType:Dissertation
Country:ChinaCandidate:Z H RenFull Text:PDF
GTID:1116360122982135Subject:Management Science and Engineering
Abstract/Summary:PDF Full Text Request
The study on the small & middle-sized enterprises (SMEs) financing and banking innovation is an international frontier research. The dilemma of SMEs enterprises financing has given rise to high attention from all of the governments. Especially in China. The puzzle between enterprises and banks is very serious. For one hand, The commercial banks own a great quantity of liabilities but dare not grant loans due to several reasons; on the other, The SMEs can't get adequate capital support from banks or other financial organizations. As a matter of fact, The lack of SMEs and banks' financial bridge constrains the capital efficiency. However, The SMEs plays an important role in economic society, who can give an impetus to GDP, increase employment, enhance exports, and enrich property structures.In comparison to China, The foreign countries meat the same difficulty problem. They all exert themselves to the utmost to solve the puzzle.This dissertation devotes major efforts to systematically study the SMEs' financing dilemma and the commercial banks behavior, and try to fill in the gap between them by devising new SMEs and banks' relationship, in a bid to resolve the problem. The main research contents can be summarized as the following several respects: Chapter one "preface", In this chapter, the author explain the presentation of this article, research background and motive, put forward the writing methods and innovation points.Chapter two "related literatures and mathematical model introduction", the author first expounds the basic definition of SMEs financing, including classic and modern financing theories such as MM theorem and its expansion, recent trends are elaborated .Chapter three "The SMEs finance peculiars from international experience and predicament analysis", in the chapter, the author adopts the comparative approach to set forth the causes of the SMEs' financing dilemma, by contrast, The author makes a systematic exposition about China's difficult position .Firstly, The SMEs' bad credit ratings constrain its finance ability; second, Asymmetrical information brings about adverse selection and moral hazard, which restricts the commercial bank's loan enlargement; thirdly, from social angel, The government can't build perfect finance-support platform and service-system. Chapter four " The commercial bank' behavior in SMEs financing", Due to principal-agent cost and interest rate control. The gap between enterprises and banks creates credit rationings and low-efficacy market. The author proposes concrete resolving schemes in view of China's special characteristics in unfavorable finance conditions.Chapter five "The institution innovation of resovling SME's finance problem´╝ŹSymbiosis between SMEs and bank", in this chapter, the author analyses the relationship between them with general and mathematic models. What's more, Apply biological conception to economic fields, in order to devise inspiration from the frontier science and find feasible ways to work out the solution..Chapter six "resolving plans and substantial evidence analysis", In this chapter, the author put forward suggestions and feasible institutional & operational innovation, construct finance-support system, According to the above, the author catches hold of full and accurate materials at home and abroad to verify his schemes. The heart of this dissertation lies in this chapter.
Keywords/Search Tags:SMEs financing, Capital structure, SMEs life cycling, Asymmetrical information, Symbiosis between SMEs and banks, Commercial bank's institutional & operational innovation
PDF Full Text Request
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