The Research On Problem Of Credit And Financing Difficulty Of Medium And Small-size Private Enterprise In View Of Information Transmission Cost

Funds are enterprises'blood. Chinese medium and small-sized private enterprises are facing the serious problem of credit and financing difficulty. An indispensable approach to promote the development of the medium and small-sized enterprises and the prosperity of the market economy is to find out the basic cause of the problem and to offer proper policies and proposals. Though concerned theorists and scholars have already obtained remarkable achievements in the study on the credit and financing problem, they haven't deeply studied the cost problem in the information transmission process. Therefore, from an angle of view the previous proposals and countermeasures have by no means systematically solved the problem of credit and financing difficulty encountered by Chinese medium and small-sized private enterprises.On the basis of the theory of information economics and under the background of the current financing situation of Chinese medium and small-sized private enterprises, this article explains why it is difficult for these enterprises to raise funds in view of information transmission cost, and offers policies and proposals. First, starting from the basis of the information economics theory, this article makes analysis and finds out that the asymmetrical information is the basic cause of credit and financing plight, and proposes the view of information transmission cost in the credit and fund-raising process. Second, on the basis of defining the concept of the credit and financing plight, this article analyzes present situation of financing difficulties faced by Chinese medium and small-sized private enterprises, and points out that the excessive cost of information transmission causes the financing plight in view of the information transmission cost. Third, this article makes analysis of the influences on the information transmission cost from the aspects of enterprises'property and the construction of financial organs as well as credit system. At last, in view of the problem of the financing plight encountered by Chinese medium and small-sized enterprises, this article offers the policy and proposals based on the information transmission cost view.