The Financing Problem Of Small And Medium-sized Enterprises In Hainan Province, Analysis And Research On Financing

Small and medium-sized enterprises are indispensable important component of national economy around the world. Since China’s reform and opening up, along with our country socialist market economic system gradually perfect, the small and medium-sized enterprises have mushroomed,sprung up,kept emerging, experiencing from scratch, from less to more, from the micro to the process of continuous development of giant, has become the important force of China’s modernization development. Although small and medium-sized enterprises in all aspects of national economic and social development in our country has made a significant contribution, but the difficulty in financing has been plagued by the development of small and medium-sized enterprises. Small and medium-sized enterprise for small, and soft and flexible: same as small, so weak and difficult Current during the financial crisis, the European debt crisis after the financial crisis, the crisis in the national economy faces significant, therefore how to through a variety of shape and the effective methods to solve the financing difficult problem in the process of development of small and medium-sized enterprises, for small and medium-sized enterprise financing problems to conduct a comprehensive in-depth study become a difficult problem in front of scholars in our country, in promoting the national economy and social development is of great significance.Based on small and medium-sized enterprises of certain basic situation of hainan province and financing environment, the comprehensive thorough research and analysis of hainan province small and medium-sized enterprise financing difficult problem. First of all, define standards for small and medium-sized enterprises division and the basic concept of simply summary, gives a definition of small and medium-sized enterprises standard is divided into two: domestic and foreign countries, foreign mainly includes:the United States, Europe, Singapore, Japan, domestic main reference2003standard; Then, the concept of financing were summarized, and subdivide the the main mode of financing, financing of exogenous and endogenous financing, direct financing and indirect financing and debt financing and equity financing; Financing theory at home and abroad, moreover, this paper divided into three periods:the early, modern times and modern times, and then to the more famous theories in detail one by one comprehensive description of mainly includes:modern financing structure theory, the traditional financing structure theory and new financing structure theory; Makes the small and medium-sized enterprise financing problems can be able to review, from the Angle of theory for the qualitative analysis and quantitative analysis of laid a solid theoretical foundation. Then in this paper, the hainan province small and medium-sized enterprise development present situation has carried on the simple description, and the financing environment of small and medium-sized enterprises in hainan province qualitative description, the main content include:small and medium-sized enterprise financing environment characteristics of hainan province and hainan province channel analysis of small and medium-sized enterprises, small and medium-sized enterprise financing difficult problem of hainan province. For all aspects of the small and medium-sized financing environment of hainan province has carried on the thorough research, hainan province small and medium-sized enterprise financing problems are qualitative analysis in detail.On the basis of qualitative analysis, for the sake of the thorough dissection of hainan province small and medium-sized enterprise financing environment, this article will influence factors of hainan province small and medium-sized enterprise financing is divided into four major factors: nature of the enterprise itself factors, enterprise, medium and external factors, can hope to hainan province small and medium-sized enterprise financing difficult problem for quantitative analysis. First, the basic situation of small and medium-sized enterprises in hainan province were summarized and analyzed, mainly including enterprise oneself circumstance and the external condition; And then, this article through to168mses,10commercial Banks and12microfinance institutions of questionnaire and on-the-spot visiting, collected128mses,10commercial Banks and12microfinance institutions of information material, small and medium-sized enterprise questionnaire recovery rate of76.1%, commercial Banks and microfinance institutions recycling questionnaire rate100%; Then, in hainan province small and medium-sized enterprise financing status questionnaire, carried on the simple classification and overview; Moreover, this article USES likert questionnaire model128mses in recycling questionnaire data statistics and samples one by one with Excel has carried on the simple processing, then the15factors index of hainan province small and medium-sized enterprise financing influence factor has carried on the qualitative analysis, and by establishing a multivariate regression model, using principal factor analysis and linear regression analysis, obtained the influence factor of hainan province small and medium-sized enterprise financing specific influence degree. Qualitative conclusions and quantitative results are:1. The satisfaction of hainan province small and medium-sized enterprise credit is about60%, is difficult to meet the demand of development of small and medium-sized enterprises, the asset-liability ratio is about25%on average, that hainan province small and medium-sized enterprise is difficult to through exogenous financing for development funds, and low proportion of debt financing and capital financing cost is high, the interest cost is high, especially the time cost of hainan province small and medium-sized enterprise development speed, has been affected by the qualitative conclusions prove that hainan province small and medium-sized enterprise financing difficult problem seriously restricted the development of;2. The empirical results show that the enterprise scale, enterprise credit, enterprise management level of enterprise profit ability, enterprise financial transparency, enterprise management risk, argues relationship, interest on capital and the interest on capital, financing channels, information symmetry, the macroeconomic situation and province small and medium-sized enterprise policy and financing effect into positive correlation; Enterprise organization form and ownership and financing effect is negative correlation.Finally, in view of the hainan province small and medium-sized enterprise financing difficult factor has carried on the thorough analysis, to study the various problems that exist in the process, put forward hainan province small and medium-sized enterprise financing problems and countermeasures and Suggestions of expanding financing channels, mainly includes the following three aspects:1. Improve the hainan province small and medium-sized enterprise growth;2. Establish and improve the hainan province small and medium-sized enterprise financing channels;3. The government on legal and policy support.