| As the rapid development of China's socialist market economy and further deepen the reform of state-owned enterprises, SMEs is more and more playing an increasingly important role in ensuring the healthy and stable development of the national economy, promoting technological innovation and reform,increasing employment opportunities and maintaining social stability all aspects etc. While the SMEs problems in the operation, especially the question of financing has attracted widespread attention in society as a whole. Since the beginning of August 2007, "sub-prime crisis" in the global spread, which caused international banking institutions out of business constantly, assets shrink dramatically, the risk of a sharp rise. in first half of 2008 alone,the number of types of small and medium enterprises throughout the country which have been collapsed up to 67000. Until the second half of 2008, China's a lot of labor-intensive industries dominated SMEs in general encounter the development difficulties, the global economic downturn makes the slowdown of China's exports, while domestic labor costs, the appreciation of the RMB exchange rate and the production of raw material prices superposition many factors etc. such as rising together, greatly squeezed viability of the SMEs.This paper attempts to study in-depth the efficiency problems of SME financing by the subprime mortgage crisis, and to explore application of the process of financing support system that suitable for immediate development of SMEs.This paper describes the sub-prime crisis in the financing of Current Status of SMEs (Chapter II),Found in SME financing problems have caused the present phenomenon of a few prominent such as bank,enterprise information asymmetry, a single financing channels for SMEs, implementation of the policy in place, most SMEs can not provide guarantees;Next the paper studies deeply about the way of SME financing and the financing structure of the theory(Chapter III)To find a suitable stage of development of SMEs,Then analyzes and points out the reasons for the current financing of SMEs,In the empirical study of the current efficiency of SME financing basis, summed up the way of SME financing and the cooperation between government, enterprises, banks, private financial institution focused on the issue of the optimization of SME financing, (Chaptersâ…£andâ…¤.)On this basis, proposed we should establish the financing system which the SMEs should be fundamental, Government for the bridges and banks and private financial should be close, and raised specific suggestions on the current situation of enterprises, government, banks and private finance (Chapter VI)The major work done and achieved innovative results are as follows:1. In the analysis of domestic and foreign financing problems and solutions for small and medium enterprises, financing and efficiency of research ideas, etc. on the basis of the literature pointed out that the sub-prime crisis on the financing of SMEs in China, which need to establish a government, enterprises, social various institutions in lending to SMEs and other aspects of the support system problems.2. Existing research in corporate finance for the efficiency evaluation method selected, abandoned the traditional use of some of the financial indicators or a weighted average of these indicators to assess the model, using DEA research methods. Research from the most beneficial to evaluate the perspective of decision making unit, focusing on the optimization of each decision making unit, pointing out that the adjustment of the direction of the indicators. This article also contains the proposed financing, capital financing of the use of two aspects of DEA efficiency evaluation model to evaluate the efficiency of SME financing, and introduce the concept of timing DEA and dynamic evaluation of the efficiency of corporate finance.3. This paper selected small and medium enterprises as samples of Changsha, Nanchang, Zhuzhou, and Guangzhou, Shenzhen, Wuhan and other places etc.a total of six cities for the study. To investigate the way the questionnaire, a total recovery of the paperboard and electronic version of a total of 208 questionnaires, A project which will remove the questionnaire respondents had incomplete, Or neither the owners nor the senior management of the questionnaire respondents, practical and effective recovery of 115 questionnaires (30 of them family visits to approach Department of post 26,59, Department by e-mail). On this basis, in-depth analysis of the sub-prime mortgage crisis in the financing of SMEs in China before and after the impact of the efficiency of four subjects (business, government, banking, private banking) the inter-relationship and impact. Was found to affect the SME's own situation is the biggest factor in the efficiency of corporate finance, government, banking, private banking business to influence through the financing of enterprises, which is three no matter the government's role before and after the sub-prime crisis affecting business performance in the first 1, the banks in the sub-prime mortgage crisis, fell to the last one.4. A comprehensive analysis of a number of factors finally given for the sub-prime crisis in the financing of SME development in China, several recommendations:First, the SME financing is subject to government, business, banking, private banking and many other roles, which needs policy, technology, financial, and legal support etc; Second, SME financing needs of a variety of financing methods, stable financing channels; Third, China should increase the banking and financial innovation, so that bank credit to more sustainable and healthy development; Finally, the standard private financial and formulate relevant laws so that SMEs can get the financing necessary financial support.
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