An Approach To The Financial Problems And Countermeasure In Panjin Small And Medium-Sized Enterprises Under The Circumstances Of Asymmetric Information

Panjin SMEs (Small and Medium - Sized Enterprises) are absolutely necessarily at developing Panjin economy. SMEs play an important role in increasing employment and improving science and technology output of products and export trades. Those SMEs get fast and fine developments have already been significant content of Panjin economy. But still there are some factors embarrassing SMEs' development. In these factors, the outstanding problem is SMEs financing. If this problem cannot be well solved, SMEs cannot get fine development and it will affect Panjin general development. The asymmetric information theory came in the 1970s, it widespread apply to each economic analysis domain. The application in capital market powerfully explains SMEs financing problem.In the thesis, the author does some research on the problem of asymmetric information and the financing of SMEs combining theories in practices. Because capital markets exclude SMEs in china, the information barrier in the finacing of SMEs mainly occur between banks and SMEs. The author tries to come to the conclusions that the problem of asymmetric Information is the main reason resulted in the predicaments in financing of SMEs, and puts it into Panjin practices, makes positive test and comes to the same conclusions with the theoretical analysis.In the end, the main countermeasures for Panjin's SMEs financing are to establish SMEs credit guarantee guiding by the governments, development the small and medium-sized finance sectors, open-up the folk finance markets.