Study On Accounts Receivable Pledge Financing Of Smes

Small and medium-sized enterprises (SMEs) is the powerful and basically element in the national economy. It has the pivotal role in the aspects of relieving employment pressure, pulling technological progress, maintaining social stability and so on. However, financing difficulties is a primary problem restricting the development of SMEs for a long time. The Property Law of The People's Republic of China set the rules of pledge of accounts receivable. It provided a new financing way for SMEs, that is accounts receivable pledge financing.This article absorbs and references previous research achievements and experience, on this basis, to study accounts receivable pledge financing of X enterprise. It combines methods of case analysis and normative analysis, and bases on game theory and information asymmetry theory to analyze and solve problems. Firstly, this article expounds topic background and significance, summarizes the domestic and foreign research status about accounts receivable pledge financing and describes study routes and block diagram. Secondly, this article introduces concepts, financing varieties, characteristics, processes and related theories of accounts receivable pledge financing. Then it introduces the general situation and financing conditions of X enterprise and analyses financing environment of accounts receivable pledge financing. It also introduces accounts receivable pledge financing business processes and results of X enterprise. Thirdly, according to processes and results, the article analyses the problems and the causes in accounts receivable pledge financing business. Finally, this article points out measures and suggestions to improve X enterprise financing ability and perfect accounts receivable pledge financing environment. For example X enterprise attaches importance to its own credit, perfects the financial system and strengthens the management of accounts receivable, the government increases the propaganda, perfects laws and regulations, banks establishes risk evaluation mechanism and so on. Through the concerted efforts of the various makes accounts receivable pledge financing business fully exert its advantages, better for SMEs financing services.