The Analysis Of The Factors On Financing Of Chinese Private Enterprises And Empirical Research

From the reforming and opening to the outside world, Chinese private enterprises are growing rapidly and doing contribute to the development of Chinese economic more than ever. However, during the progress of the development of private enterprises, the trouble of financing restricts the further development and becomes the common issue. Under this circumstance, it would be much more meaningful to research and solve the financing problem of private enterprises. On this issue, many scholars have done some theoretical analysis, but, there is lack of the system induction and quantization or empirical study based on a pointed market. Based on MM theory, pecking theory, this paper divides the issue into two level, the outside level and the inside level. After further researching, this paper details8factors which have effects on financing, and8hypotheses according to the8factors. In order to verify the hypotheses, the present writer made an investigation on private enterprises CEOs or entrepreneurs in the area of northeast of China, including wholesale and retail industry, service industry, processing manufacturing industry, new technology industry and construct and building materials industry, total in34. The data were quantitative treated by Likert method and analyzed by SPSS software to find out the data relationship, the value of VIF, and linear regressive, aimed at to set up the financing model. And analyze the effect of each factor. And then the present writer gives some suggestions on private enterprises financing.