| With the rapid development of our economy, the small and medium-sized enterprises (SMEs) with flexibility and creativity have also had a bigger development space and have become an important force of promoting the development of national economy and social. As an important part of SMEs, the SMEs in rural has made a great contribution to increasing farmers’ income, stimulating rural economic growth and promoting the new rural construction. However, the problems existing in the development of SMEs in rural are still obvious, such as technical barriers, financing difficulties, rising labor costs, market competition pressure, affected by the national policy, etc. These problems make the survival of SMEs become more and more difficult, make the life be shorter and shorter, the transformation of SMEs in rural is imminent. The government has adopted a series of policies to encourage and support SMEs. Under the condition of the external environment improved increasingly, the development of SMEs rely more on themselves, only did the SMEs constantly enhance comprehensive strength, they could have a competitive position in the intense market. This article uses the technical efficiency as a measure of comprehensive strength for SMEs in rural, how is its technical efficiency level? The financing difficult problem of SMEs has a long history, how does it make an effect on technical efficiency? In addition, are there other factors which will affect the technical efficiency?In order to answer the above questions, this article based on the theory of enterprises’ efficiency and the financing theory, using the method of DEA to measure the technical efficiency with the data of SMEs in the rural areas of Jiangsu Province, and analyzing the determinants of technical efficiency based on the perspective of credit availability by Tobit model, which hopes to make a contribution to the transformation and upgrading of SMEs in rural. The conclusions are as follows:Firstly, the technical efficiency of SMEs in rural is low. The article uses the net value of fixed assets, the number of employees, the cost of raw materials as input variables, uses the output, sales revenue as output variables. Then using method of DEA to measure the technical efficiency of SMEs in rural, it is concluded that the average technical efficiency only is 0.253.Secondly, pure technical efficiency is the main reason for the low technical efficiency of SMEs in rural.Calculation results show that the average of pure technical efficiency is 0.330, the scale efficiency is 0.794. The technical efficiency is composed of pure technical efficiency and scale efficiency, the technical efficiency improves only in the case of the pure technical efficiency and scale efficiency both improve, now the low pure technical efficiency has seriously hindered their overall efficiency of SMEs in rural.Thirdly, the efficiency of SMEs in rural is different in region, industry, and closely related to the age. The technical efficiency, pure technical efficiency and scale efficiency in the south of Jiangsu are all ahead of the middle and northern area. The technology efficiency of traditional manufacturing is lower than other industry. The technical efficiency and pure technical efficiency of SMEs in rural with young entrepreneurs significantly higher than that of middle-aged and old owners, while their scale efficiency is relatively low.Fourthly, the SMEs in rural credit availability showed a trend of polarization. According to the actual situation of SMEs in rural, the article use the ratio of bank loan balances and corporate debts a measure of enterprises’credit availability. The average of credit availability of SMEs in rural is 0.54. We found that the credit availability of SMEs in rural is evident in the polarization phenomenon,15.74% of enterprises’credit availability is between 0 to 0.1, and 21.83% of enterprises’credit availability is between 0.9 to 1. Whether SMEs in rural can get bank loans or not is closely related to qualified mortgages, guarantees and credit rating, etc.Fifthly, credit availability of SMEs in rural has significantly positive influence on technical efficiency. This article uses Tobit model to empirically analyze the effect of credit availability of SMEs in rural on technical efficiency, the influence of the results showed that the higher the credit availability is, the higher technical efficiency is. Because the bank loan is the main mode of rural SMEs to obtain external funding, the high credit availability made the SMEs in rural have enough fund in product innovation and operation, which can help to improve the technical efficiency. In addition, the labor input, enterprise scale, the cost of raw materials, R&D investment, the age also has significant effect on the technical efficiency. Among them, which have a positive effect are enterprise scale, age, asset-liability ratio and regional variables; which have a negative effect are the cost of raw materials, R&D investment; the relation between the labor input and technical efficiency is nonlinear.According to the above conclusion, this article puts forward the following suggestions: first, to increase the R&D investment, the ability of research and development and the level of management. Second, make the cost in a reasonable range and appropriately expand the scale of the enterprise. Third, extend the way of financing and increase credit availability. |
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