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The Clusters Symbiotic Financing Mechanism And Innovation For SMEs

Posted on:2011-11-28Degree:DoctorType:Dissertation
Country:ChinaCandidate:Q ZhangFull Text:PDF
GTID:1119360305992744Subject:Management Science and Engineering
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Industrial clusters as a kind of spontaneous structure innovation have proved their economic disciplines and vitality. The structure innovation leads to the huge changes in generally flexible division of labor, professional to produce and competitive mechanism, including internal enterprises'financing behaviors. Because of the nearer location and thorough division industrial clusters lay advantages on internal enterprises to conquer many financing obstacles.This dissertation introduced the concept of symbiotic as the cluster financing mechanism analysis tool, took the view of Evolutionary Economics, defined the industrial clusters as individual organisms, which is a social symbiotic system composed by similar enterprises, supportive organizations and committees gathering together as a sort of biological population. Four respects of advantage of industrial cluster financing are external economy, scale economy and compensating for market failure, which make small-medium enterprises have privileges in financing. The above result has been proved in organizational ecology science. Furthermore, symbiotic theory takes the point that any symbiotic system including three elements, which are symbiotic environment, symbiotic units and symbiotic model. This dissertation analyzes the relationship between cluster symbiotic environment and the changes of enterprises financing behaviors based on the resource dependence view by principle of coupling mechanism; Meanwhile, the concept of credit chain is put forward to explain the symbiotic enterprises how to solve those financing problems set up by classical model of credit rationing, Hochman Risk Model and W-S credit rationing model. Four symbiotic models have been comparatively analyzed, including parasitic, commensalism, asymmetrical mutualism and symmetrical mutualism. By comparing these four symbiotic models'financing contractive relationship we find out that the expanding boundary of symbiotic relationship by the attending of the credit cooperative organizations, government and financial institutions as a "trust" and "control" increases the system utility and decentralizes systematic credit risk. An opinion has been put forward that the expanding boundary of symbiotic relationship is the innovation mechanism of industrial clusters'financing innovation.In order to verify the above theoretical assumption, the dissertation testified it through an empirical study on the three survey of financing situation of SMEs in cluster of the relevance between SMEs'financing behavior and symbiotic environment and the revolution of SMEs' financing behavior in industrial clusters. The empirical results showed that symbiotic environment and SME's nature were the constrains incentives of financial innovation. As a result, we must consider about the optimistic policies of economic environments, regular environments, social culture environments and natural resources environments before we designing the industrial cluster financing innovative model.As the diversity of the symbiotic double helix financing innovative model, this dissertation put forward a modularization model of industrial clustering financing innovation. First of all, we operated a dual-evaluating system of industrial cluster credit ration by DEA based AHP method. Then the dissertation discussed the previous theoretical framework from three dimensions to establish the measure scale, adopted comparison analysis methods and the structural equation model to empirical research for the theoretical assumption.This dissertation presented multi-participation in the financing of SME cluster "firework" innovation model framework and discussed the specific model of operation form the view of modularization. By the "firework" innovation model, the dissertation "produced" a set of innovative public entrusted loan financing contracts and operation mechanism under the less developed domestic capital market background according to the characteristics and advantages of the trusted loan and testified the innovative SMEs'clustering financing product, which turned out to be a stable and feasible financial contract.
Keywords/Search Tags:small and medium-sized enterprises (SMEs), industrial clusters, symbiotic, cluster financing innovation
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