Studies On Small And Medium-Sized Enterprise' Financing Problem In China

The financing in small and medium-sized enterprise' (SME) is a very complicate economic course, including the economic and technical problems. The dissertation analyzes the problem from economic angle. The financing course involves three aspects: supply, demand and balance. Following this train of thought, the dissertation is divided into seven chapters.In the preface, the purpose and significance of the study are provided; the basic clue, research methods, basic hypothesis and structure are expounded; the main creative ideas and the difficult points are introduced. Chapter II analyzes various kinds of possible sources and channels that the fund of small and medium-sized enterprise supplies, after joining the subjective" will" factor of person who supplies fund, it analyzes the realistic fund of small and medium-sized enterprise. The difference between the potential supply and the realistic supply announces the obstacle question of the system. Chapter III appraise for the financing demand of small and medium-sized enterprise and financing efficiency. It analyzes potential and realistic demand characteristic of small and medium-sized enterprise in our country, appraises and arranges various kinds of efficiency of financing way in order while utilizing fuzzy mathematics. Chapter IV analyses the difference of the fund supply and demand ,the finance predicament of small and medium-sized enterprise. In general, the fund of small and medium-sized enterprise is in situation of short supply, the breach of supply and demand exists rigidly, the small and medium-sized enterprise falls into the financing predicament. The analysis to the financing predicament not only stays on the general theory of three key elements of enterprise, bank, government, Information economics and property right economics launch on the basis of this explain and offer more convincingness explanation. Chapter V research bank and small and medium-sized enterprise financing relationship. Under the present situation, the financing problem of small and medium-sized enterprise mainly embody the difficulty for loan, the study on the bank and small and medium-sized enterprise' financing relationship is obviously very important and essential. And relationship study can't only stay the static behavior, it reflect historical relation that the route of the financing behavior way of small and medium-sized enterprise relies on. Original budget soft derives another kind of. soft restraint under transition economy, the soft restraint results from the financial system of the centralization of state power, so longas the financial system structure still has a characteristic with " centralized", soft restraintswill make bank adopt distinguished, even discriminated credit tactics evading risk. Nomatter how much the obstacles of both sides have, the last balance always exist, thebalance doesn't remain on Lars' level, is the equilibrium credit rationing. When make thefactor of scale endogenous in our model, the author finds that small and medium-sizedenterprise is more easy to receive credit rationing than the big enterprise. In Chapter VI ,the financing structure of small and medium-sized enterprise in our country is introducedand analyzed, the financing structure is a result of the financing behavior, the reflection ofthe financing performance. The financing structure of small and medium-sized enterpriseof our country presents the characteristics, such as high liability, high current liability, etc.This kind of financing structure does not benefit the promotion of the value of small andmedium-sized enterprise, the author prove that the financing structure of small andmedium-sized enterprise of our country is extremely unreasonable with the positiveresearch, The result expounds that the level in debt of the small and medium-sizedenterprise has already caused the defeated function on enterprise value. Chapter VII is theimprovement of the financing system of small and medium-sized enterprise. Speaking ofthe improvement of the financing...