The Clusters Financing Mechanism For SME Based On The Perspective Of Social Capital

Industrial clusters as a unique mode of production, have been proven that their production have advatage in generally flexible division of labor, professional to produce, competitive mechanism and aggregation effect accumulation of such advantages which other form of production form is lacked, it was a major force to promote local economic development. As the main of industrial clusters, SMEs have to share the positive role effectively from cluster production, avoid the restrictions of the economies scale and shows strong vitality. However, at present, the policies for various types of the development industrial clusters is mainly that how to promote the industry gathering, how to build a complete industrial chain, such as mainly an attempt to provide a good hardware environment to support many enterprises in clusters. But for the majority of the SMEs, financing difficulties is the biggest challenge at present. Although the government has promulgated and put a lot of support such as SME financing laws, regulations and policies, and governments at all levels have apply to solve the SME financing problems, but t considering this issue from the perspective of industrial clusters is also deficient. This paper is analyzeing and discussing the problem of financing SMEs in the special industrial clusters of environmental background, trying to find a perspective to alleviate problem of financing.This article introduced the concept of social capital as the cluster financing mechanism analysis tools, take the view of structural point, define the social capital of this broad meaning of the concept, the concept of social capital should included cultural traditions, economic relations and network social network. Industrial clusters as a unique organization of production, exits internal social capital, but such social capital in cluster compared to the social capital in non-cluster environment, it haso the trend to strengthen which is set by the industry groups of the special nature. First, the location cultural traditions play a crucial role of industrial clusters embryonic development. And a form of cultural and economic force rect frpm each others, so the formation of industrial clusters and development strengthen the local cultural identity. In addition, the general geographic area, even if exist a large number of enterprises, the enterprises have also not too many economic ties, business does not exis the co-production, the division of the collaboration, there is no more transaction of a result of a large-scale production, and social networks merely depend on blood and the geographical scope which is small and difficult to expand. However, because it exist production clusters, there are all kinds of enterprises, institutions, organizations exit close ties in industrial clusters area. The production networks, transactions network and social networks are intertwined and depth fit, form an enormous and complex network relationships, provide a dense exchanges space for all the enterprises in cluster, the social capital in industrial clusters have the features of high-density and the wide range.which the non-regional clusters do not belong.Every behavioral agent including enterprises, individuals and institutions, are deeply embedded in the macro background about the cultural traditions, economic and social relations, social capital have a certain force into behavioral agent. And because the special of the nature, industrial clusters, the social capital force is much more powerful. As a construction of regional cultural and spiritual value, it has profound impact for the financing of SMEs. Economic relations network for SMEs provide the basic survival and development of soil, the relationship between enterprises and the network performance as a resource-dependent relationship.if lefting the network, SMEs themselves will not be able to survive. It is also due to resource dependent relations, the economic relations networks have a very big influence and power constraints for the financing of SMEs. At the same time, social relations network as important relationship existing in the current Chinese situation, it have extremely unique advantages in the informal transfer of information, such soft information dissemination have very significant impact for SME financing choices. Finally, because of industrial clusters within the network of social capital of the small world network characteristics, information have the advantage of transmission speed and degree of proliferation in the industrial clusters, which other forms of network does not exit. The social capital in industrial clusters provide an extremely favorable terms for financing mechanisms of improving the SME loan market clusters of credit rationing.In order to verify the theoretical assumption that clusters social capital have financing mechanism, the paper approved it through an empirical study on the three issues survey of financing situation of SMEs cluster on social capital, of the relevance credit level for SMEs social capital and of the relevance SMEs financing convenience. As the diversity of the social capitalconcept, it is still a lack of a universal application of social capital measurement method at present. In this paper, the paper takes the previous theoretical framework from three dimensions using 31 indicators of social capital to establish the the measure scale, adoptes comparison analysis methods and the structural equation model to empirical research for the theoretical assumption. The empirical results shows that the cluster of financing for SMEs has obvious advantages, and the social capital confidence level of SME financing and facilitation degree show a positive correlation.Despite the social capital has irreplaceable advantages in the improvement of SME credit rationing, it also should be aware that the transmission of information from the attenuation of the network terminals, the stringent requirements of its own form of a non-sexual nature and difficult to measure, Factors such as the existence of, social capital makes the existence of such a financing mechanism under way or another, resulting in only by the social capital financing mechanism itself is also difficult to completely solve the financing of SMEs cluster problems. "Trust" is important, but in actual operation, it will still need to "control" the elements to join in, form the mode of combining "trust" and "control". Theory and practice are proved that the credit cooperative organizations as a "trust" and "control" of the complex effective in resolving problems played a great role on the financing of SMEs. Through this research, to participate in multi-Construction of the main credit cooperative was considered the most effective mode of operation, because in that mode of operation, it can give full play to the role of a single organization, but also through a system of design and composition , to play their collaborative efforts. It also based on this, this paper presents a multi-participation in the financing of SME cluster "nest" model framework and preliminary discuss the specific mode of operation.