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The Legal System On The Direct Financing Of Small And Medium-size Enterprises

Posted on:2015-11-10Degree:MasterType:Thesis
Country:ChinaCandidate:B X JuFull Text:PDF
GTID:2296330422489003Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
In the process of economic globalization, in which a very important driving forceis economic development of SMEs, their employment, prevention of financial risks,coordination, support for agricultural development in the regional economy, andtechnological innovation is of great significance. Along with the rising economicstatus of SMEs, their growth path covered with thorns, and direct financing challengesof this century, long term restricting the development of Chinese small and mediumenterprises. Although when compared with large enterprises, SMEs have manyadvantages such as widely distributed and flexible business, but disadvantages arealso obvious, as set up for long, its has a limited amount of resources, in particular thelack of capital, SMEs often flagging economic fluctuations and changes in the market,resulting in generally in a weak position in the competition with big business. Inresponse to this situation, the relevant State agencies have also promulgated a seriesof legal attempts to resolve this problem, but these documents or legal level too low isnot generally binding, provisions broadly defined or fuzzy, actual implementation oflack of maneuverability, directly in SMEs financing problem has not been effectivelyaddressed, direct financing difficulties restriction remains the greatest obstacle toSME development and growth. Therefore, many scholars on direct financing of SMEsfully research this global challenge, despite a lot of research, but mainly from aneconomic point of view to explore the status and reasons of direct financing for SMEs,specifically from the legislative level specification literature of direct financing forSMEs is relatively scarce.Attempts to use the angle of this article exploring the direct of China small andmedium enterprise financing present situation and the reason for this dilemma, and onthat basis put forward to solve this difficult problem, in which the perfection of legalsystem of direct financing for SMEs is the focus of this paper. Hopes from the legalsystem to ease the legal predicament directly financing difficulty of SMEs providessome useful theoretical support. Article in addition to the introduction and the end of things, is divided into five parts:First part: the financing of legal interpretation. First of all, financing and directfinancing to SMEs related concept of a legally defined, then into direct financing ofsmall and medium enterprises on the status and causes of direct financing difficultiesof SMEs, for a further perspective on legal dilemma of Chinese small and mediumenterprises direct financing to make a theoretical groundwork.Part Ⅱ: legal framework for direct financing of SMEs in China at present. Thissection of the Constitution, the company law and the law on SME promotion,partnership, sole proprietorship enterprise law, the small and medium enterpriseDivision of standards within the framework of laws and regulations, such as groomingand seek specific legal norms and direct financing of Chinese small and mediumenterprises, to further perfecting the legal system of direct financing for SMEsprovided the empirical basis for targeted.Part Ⅲ: legal dilemma of Chinese small and medium enterprises direct financing.This section notes that direct financing for SMEs faced with relevant laws andregulations in General, policy effectiveness levels low, relevant legal norms ofconflict and lack of co-ordination between the security loopholes in the legal systemhinder direct financing, indirect financing and capital market standards demandingequity finance law with the way is suitable.Part Ⅳ: foreign direct financing of SMEs experience study of the legal system.This part of the United States and Japan both national comparative analysis of SMEfinancing system directly, direct financing channels for SMEs must establish a soundlegal support systems for SMEs, through the United States, and Japan and otherdeveloped countries experience study of the legal system of direct financing, provideinsights thought legislation of direct financing for SMEs.Part five: the specific path of perfecting the legal system of direct financing forSMEs. For my SMEs directly financing faced of series legal dilemma, this part fromaccelerated SMEs directly financing related legislation, and established sound directlyfinancing guarantees legal system, and established sound directly financing venturecapital legal system, and established sound directly financing mutual guarantees system, and established specifically of equity directly financing institutions, andestablished sound civil borrowing directly financing legal system, six a aspects madeperfect my SMEs directly financing legal system of specific path.
Keywords/Search Tags:small and medium-size enterprises, direct financing, equity financing, nongovernmental financing, venture capital, perfecting the system
PDF Full Text Request
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