Information Dissymmetry, Credit Admeasure And Loan-applying Of The Small/Medium-sized Enterprises

It is being recognized for the role of the small/medium-sized enterprises (hereinafter referred to "the S&M enterprises") playing in the economic development by the various countries. At the meantime, the financing problem for their development becomes more and more serious. The article pointed out, ever since the Reform & Opening-up policy enforced from 1980's in China-a rapid-growth developing country during its system transitional period, the S&M (especially the private-owned) enterprises had become a mainstay power for the economic improvement. It was the fact obvious to all. But in recent years, the S&M enterprises suffered a lot from the financial oppression. There were some inexpressible barriers for their direct or indirect financing activities, especially loan-applying from the banks. How to solve their financing problem and accelerate their development is a problem eagerly crying for settlement, which should deserve the attention of the economic circles and the government. The precondition to solve the problem effectively is to find out the essential reasons. The article hereby tried to analyze the function of the information transfer in the credit admeasure and then use it as a brealcthrough to find the ways or solutions to alleviate the contradiction.As stated in the article, the information dissymmetry was the ultimate reason of their difficulty for loan-applying. To ease the tension of the loan-apply problem of the S&M enterprises, it would be helpful to establish the local S&M bank, credit-guarantee system and other informal financial measures. Above all, theway-out is to set up a comprehensive financial service system aiming for the S&M enterprises.Adopting the theoretical and case analyses measures, there were 5 parts in the article as follows:The 1st part was to introduce the definition and standard of the S&M enterprises and analyze the function of their roles playing in the economy.The 2nd part was mainly to introduce the debt financing of the S&M enterprises and analyze the status in quo of their loan-applying by cases.The 3rd part was to analyze the reasons why the information dissymmetry leads the banks' credit admeasure for the S&M enterprises.The 4th part was to put up some countermeasures and suggestions to ease the loan-applying tension of the S&M enterprises in China.The 5th part was the conclusion.