Research On The Small And Medium Sized Enterprises' Business Alliance Based On The Perspective Of SMEs Financing

Around the globe,financing has been the biggest challenge and development obstacle for most small-and-medium-enterprises(SMEs).In the new economic era,diverse initiatives could be taken to ease the financing difficulty of Chinese SMEs,such as reinforcing the supply-side structural reform,actively expanding the financing paths and constructing multiple levels of financing channels etc..In fact,considering the severe financing difficulty that Chinese SMEs are confronting nowadays,the efficient implementation of above measures is a must.Among all those measures,the model of SME business alliance stands out because of it's particular way of establishment and operation characteristics that enable efficient information dissemination and thus improved financing efficiency.This dissertation sets out the research on SMEs business alliance from a financing perspective,so as to expose the deep operation mechanism and internal behavior logic of this model.To explore the research object and question,this dissertation adopts social capital theory,system complexity,Complex Adaptive Systems Theory,actor network theory and Evolutionary Game Theory to analyse the model of SME business alliance.The whole study is consisted of four parts as follows.Firstly,the operation mode and organizational boundary of SMEs business alliance is clearly defined,and the members' geographic distribution is carefully classified,so as to lay the foundation for later study.Secondly,the dynamic process during the formation of different types of SMEs business alliances and the interaction of heterogeneous actors are analyzed and compared,which shows the important role of social capital in the development of business alliance model.Thirdly,the research focuses on the internal information transmission mechanism of the business alliance,analyzes the path and propagation characteristics of information transmission within the network and reveals the logic of efficient financing behaviour in business alliance mode.Finally,the dissertation systematically studies the evolution process of diverse members in business alliance and their self-organized,cooperative behaviour,and accordingly suggests possible ways for the SMEs to overcome the cooperation difficulties and stabilize daily business operation.This study propose that the root cause of financing difficulty of SMEs is information asymmetry.However,due to the structural characteristics of SMEs business alliance,implications brought by the information asymmetry between enterprises and the fund supplier is reduced and so as to solve the trust crisis among most SMEs.The findings of this study are as follows.(1)The information transfer network of different types of small and medium-sized enterprise business alliance belongs to the characteristic value range of small world network in complex network.(2)The effective degree of information transmission depends on the network scale aggregation coefficientt and node degree value in the network of business alliance.(3)The management mechanism that SMEs alliances adopt depends on the disparity structure of the members' geographic distribution,it was found that the more sparse the geographical location distribution,the more strict management mechanism should be adopted to prevent the opportunistic behavior of the members.(4)The managers of those alliances should work on establishing positive atmosphere within the organization and create opportunities for communication and cooperation among the members,so that the overall connection of the alliance can be enhanced.Consider the SMEs business alliances as a complex system with multiple active subjects to investigate its construction,operational mechanism and evolution path is the innovation and main feature of this study.The main innovations of this research:(1)It is emphasized that the non-human actors and human actors play the same important role in the formation and development of the alliance.(2)Based on the perspective of complex system theory,the mechanism of information transmission between enterprises is studied and the information transfer model in SMEs business alliance is built.(3)Cooperative mechanism with multiple active actors in the alliance is reasched and the dynamic evolutionary game model of self organization in the alliance is constructed.