Small And Medium Sized Manufacturing Enterprises Indirect Financing Strategies Based On Factor Analysis

The US subprime loan crisis casue the global financial crisis that has largely impacted our country’s real economy. Among them, SME has seriously impacted and the report that the influence on the SME board of listed companies in financial crisis at Shenzhen Stock Exchange shows that the crisis that impact on SMEs in manufacturing industry was significantly greater than non-manufacturing. At the same time,some companies that funds are shortaged are also increasingly highlighted. Therefore, it should be strengthened the ability of the small manufacturing enterprises on resisting risk through indirect financing.Due to the current indirect financing problem is very prominent for the listed small and medium manufacturing enterprises. This article list on the 350 small and medium manufacturing enterprises from the Shenzhen Stock Exchange in September 2010 as the research object. To strengthen small and medium manufacturing enterprises resist to the crisis by indirect financing. But the problem of indirect financing in small and medium manufacturing enterprises is also very prominent, so this article stand on the point view of business, and analysis the financial statements and annual report data indicators that from 105 small manufacturing firms, the main factors of indirect financing can be reached that affect our small and medium manufacturing enterprises, and make the main factors be quantitated including operating capacity factor, short-term liquidity factor, reputation factor and the development prospects of factors. That can make the small and medium manufacturing enterprises find a solution and means to solve the problem of indirect financing more objectively.Finally, standing in view of government, bank and corporate and learn overseas experience from small and medium manufacturing enterprises, a series of proposals are raised to solve the difficult statuation of indirect financing about listed SMEs, such as change the management philosophy, sound financial management system, sound credit system for SMEs, develop local financial institutions and so on, and then do the prospects of indirect financing to the Small and Medium Sized Manufacturing Enterprises.