Research On The Selection Of Financing Channels And Influencing Factors Of Family Farms In Yantai

Since the central document first proposed in 2013 to encourage the development of new agricultural production and management organizations,family farms have received great attention from the party and the state.Family farms are booming at this time.However,due to its inherent disadvantages,agricultural production has a weak ability to resist risks,and the available mortgage assets are seriously insufficient,which seriously hinders the large-scale production of family farms.However,the credit products available from existing financial institutions are relatively small,which results in a relatively simple choice of financing channels for family farms.How to expand financing channels and find solutions to the difficulties in raising funds for family farms is a new task that we urgently need to solve at this time.Based on the Macmillan gap,credit rationing,information asymmetry theory,and financial suppression theory,this article conducts field research on 381 family farms in the Yantai area to find the factors and factors that can affect the choice of financing channels for family farms in Yantai.Helps resolve ways to broaden financing channels.Firstly,the development status of family farms in Yantai is described.Secondly,the types,reasons and problems encountered in the selection of financing channels are analyzed,and then multiple logistic models are used to empirically analyze the factors that affect the selection of financing channels for family farms.Finally,based on the survey analysis and model results,suggestions are made to help family farms in Yantai to expand financing channels.The types of financing channels for family farms in Yantai are relatively simple,including standardized financial organizations,private loan sharks,and interest-free loans from friends and relatives.Among them,interest-free loans from relatives and friends are most popular with farmers.The financing scale of various channels is far from meeting the financing needs of family farms.Farmers' choice of formal and informal channels is based on the realities of their family farms.The choice of formal channels is mainly due to the lack of human favors and the variety of loan terms and types.The choice of informal channels is mainly due to quickness and simplicity,few restrictions,and the lowest interest of relatives and friends for loans.The problems encountered in the selection of financing channels are as follows: one is that it isdifficult to obtain loans from formal channels,and the other is that the stability of informal channels is poor.Through the analysis of multiple logistic models,it is concluded that the factors that have a significant impact on the choice of formal financing channels include age,education,business scale,perception of loans,per capita annual income,land rent,and whether to join a cooperative.Factors affecting the selection of informal financing channels include education level,scale of operation,duration of contract,and whether to join a cooperative.Finally,based on the above conclusions,several suggestions are made.