Theoretical And Empirical Research On Relation Al Financing’s Effect On The Small And Mediumsized Enterprise Growth Ability

With the establishment of the market economy system, small and medium-sized enterprises in our country is booming up. The growth of small and medium sized enterprises promotes the increase of our national economy, but the financing difficulties at present has become one of the survival and the development of the main factors. Small and medium-sized enterprise financing difficulty is the main reason of the small scale, limited assets that can be mortgaged, financial information transparency is not high lead to information asymmetry between the fact and so on. Therefore, solve the difficulties in financing small and medium-sized enterprises, on the growth of small and medium-sized enterprises and even the entire national economy growth has very important significance.First, This chapter sums up the relevant theory in this paper, mainly including credit rationing under asymmetric information theory, the relational financing and growth ability of small and medium-sized enterprises related research theory. Second,listed small and medium-sized enterprises are selected, and Stata software are adopted to find the key influencing factors in the relational financing for small and medium-sized enterprise growth ability. The following conclusions can be drawn:(1) the loan term has no significant relationship with the growth of small and medium-sized enterprises;(2) the loan bank number on the improvement of enterprise growth ability is important;(3) the main bank loans share for small and medium-sized enterprise growth ability was significantly positive correlation;(4) enterprise age for small and medium-sized enterprise growth ability was significantly positive correlation;(5) controlling variable sales net interest rate and enterprise assets scale improvement can promote the enterprise growth, and the rate of assets and liabilities of enterprises inhibits the growth of the enterprise. Finally this paper put forward relevant suggestions from the aspect of banking system and small and medium-sized enterprise self-perfection.