The Game Analysis Research Of The Hock Financing Of The Small And Medium-Sized Enterprise In China

After the Chinese economic reform, the small and medium-sized enterprises occupied veryimportant position in the economic life. The value created more than the sum total of large state-ownedenterprise. It provides abundance position solved the social problem of unemployment largely. But thedevelopment of small and medium-sized enterprises always can’t get care of relevant policies. There aremany enterprises are also struggling because of the money. The bank loan favor those who of large andmedium-sized state-owned enterprises, the financing for small and medium-sized enterprises set up higherthreshold. Due to the fact the information asymmetry between serious, and increase the difficulty of thesmall and medium-sized enterprises get working capital.This paper, from the point of view of the financing pawn, trying to explanation financing forsmall and medium-sized enterprise pawn relieve financing difficulties of feasibility through the theoretical,and talked about the difference of financing pawn and several others way which is applicable to thefinancing of small and medium enterprises. Through the game analysis between the bank and theenterprises, we can get the root causes of small and medium-sized enterprises in the difficulties of financing.Through the game between the pawn and enterprises,we can get the conclusion of the advantage in thefinancing of small and medium enterprises, pawn is the breakthrough point of financing difficulties ofsmall and medium-sized enterprises. In the last place this paper point out some countermeasures andSuggestions for the pawnbroking in future development looking for their own core competitive ability andinnovative points.This paper will be divided into five chapter, the arrangement of the chapters are as follows:1, this paper, from the present situation, the pawn financing are faced with the problem and thesolution and the pawn of the financing innovation based on the review of the research, points out that thesmall and medium-sized enterprises in promoting economic development, solving the employment problemplaying an important role. But financing is always the big problem of small and medium-sized enterprisedevelopment. Based on small and medium-sized enterprise business features, this article out small andmedium-sized enterprises to solve the difficulty in financing a moderate points, the pawn financing. 2, the difficulty of financing for small and medium-sized enterprises to carry out comprehensiveanalysis problem, and discuss the factors of the enterprise internal, such as: the lack of mortgage assets,governance structure is not standard, credit level somewhat low, the existing higher management risk,information asymmetry, etc; In addition also discussed the external factors cause of smes financingdifficulty enterprise, such as: direct financing channel is narrow, the financing cost is higher, the lack ofnecessary financing tools, the lack of a sound effective guarantee system, etc. This part of the small andmedium-sized enterprise financing channel are analyzed, discussed their respective characteristics, and arecompared and analyzed.3, Through the game analysis between the bank and the enterprises and the pawn andenterprises.First give the game analysis of the theoretical basis, and then from a game of the bank and theenterprises, come to the conclusion that because information asymmetry, serious social credit system set upnot perfect and other reasons, the small and medium-sized enterprise caused difficulty getting bank loans.In addition, the pawn and enterprises from a given the game analysis, concluded that, in the process ofpawn financing only focus on the value and the source and the pawn things, needn’t to small andmedium-sized enterprises to provide credit record, so the financing for small and medium enterprisesprovide a green channel.4, For small and medium-sized enterprises financing were discussed the methods of pawn,analyzes the present development of pawnbroking form and position. Analyzes the rationality of the smalland medium-sized enterprises financing pawn, on the one hand, the enterprise life cycle from theperspective of enterprise in different stages of development financing needs, think hock is in thedevelopment of small and middle-sized enterprises that are involved in any stage of space; On the otherhand, analyzes the characteristics of small and medium-sized enterprises financing and the fit of pawnfinancing degree. In the final analysis, the small and medium-sized enterprise hock financing feasibility.5, This paper gives the countermeasure and the suggestion development of pawnbroking. First ofall, starting from the innovation pawnbroking financing services, mining pawnbroking function, putsforward the establish complementary mechanism with bank, and contribute to the bank, pawn and smalland medium-sized enterprises of the three parties win-win; Second, emphasizes the pawnbroking ofmicroscopic development measures, and points out that the sets up the profession image, establish personnel training mechanism and innovation management mode and other measures; Again, points outthat the perfect laws and regulations of urgency pawn industry; Finally, Suggestions to perfect social creditsystem, as the important reference index for financial institutions providing loans to small andmedium-sized enterprise the assessment.