我国中小企业融资政策支持的创新研究

发布时间：2018-04-04 22:01

本文选题：中小企业　切入点：融资政策　出处：《天津商业大学》2016年硕士论文

【摘要】：随着我国经济进入新常态,经济增长速度换挡,经济结构调整进入关键时期,中小企业作为经济结构中最为活跃的经济体,其健康的发展对就业机会的增加、经济发展方式的转变和社会科技创新能力的提高都有极大的促进作用。为此我国政府一直从多角度给予中小企业发展的政策支持,使中小企业发展中遇到的资金不足等难题得到了一定程度上的缓解。但是,中小企业融资的需求量要远远高于现有政策支持下所能获得的资金支持,其融资状况未能得到根本性的好转。直接融资门槛较高且容量有限,间接融资质押授信难度大,融资成本居高不下,信用体系不够健全,约束机制尚未落实等不利因素促使现有政策支持下的资金供给者对中小企业的融资需求持有保守或拒绝态度。政府行政干预冗杂,政策落实性不高,使得政策支持的效率低下。因此,现有融资政策的不完善和新兴融资方式的政策空白都需要对我国目前的中小企业融资政策支持进行创新和重构,从而保证中小企业的融资缺口尽可能地减小,改善中小企业融资环境。当前有关融资政策支持涉及的方面较多,而中小企业融资问题的重点和难点集中在金融体制和财政体制上,因此本文从金融层面和财政层面有选择性地对现有融资政策进行完善和探索构建新的融资模式。首先,对中小企业融资的基础性理论进行了分析,从国内外两个角度对比分析了中小企业的界定标准,梳理了中小企业融资的相关理论。其次,充分分析了我国中小企业融资现状,指出中小企业融资难的内部原因和外部原因。对中小企业融资政策的现状主要是从我国现阶段金融政策、财政政策支持角度分析,研究各项政策支持下逐步发展的新型融资模式,以及政策实施过程中出现的问题。第三,选取美、日、英、德等国家较为成熟的中小企业融资政策支持,分析各国的融资政策支持及其特点,指出国外政府对中小企业融资的政策支持主要是以健全的法律为保障,由政府的财政政策为主导,结合金融政策共同支持中小企业融资。最后,结合我国中小企业融资的实际情况,借鉴国外可行性较高的中小企业融资政策,从金融和财政两个方面提出可行性较高的完善建议和新融资模式的思路,从而丰富我国现有的中小企业融资政策的支持体系。本文的创新之处主要是选择的中小企业融资金融支持的研究对象属于当下热点话题且基于当下实际情况的相关研究较少。本文以国外目前较流行的成熟中小企业融资政策为参考,有选择性地分析并创新了投贷联动和供应链金融等金融政策对中小企业的政策支持。其中,对于投贷联动,建议尽早地修改《商业银行法》中关于商业银行直接对企业股权投资的限制,且在现有情况下从政策上重点规范银行集团内投资功能子公司和“银行+创投”模式下的投贷联动业务的开展;加强投贷防火墙建设;限制商业银行对自己参股或控股的企业进行贷款,避免放开的政策易导致的“救助行为”。对于供应链金融,建议加大建设银行供应链金融平台力度;加快完善“互联网+供应链金融”的综合服务;对供应链金融设置层次准入。对中小企业融资的财政政策的创新主要健全中小企业融资财政专项资金政策,加大对中小企业的财政补贴力度,建立多元化的财政补贴机制减少企业寻租行为。
[Abstract]:As China's economy has entered a new norm, the shift of economic growth, economic restructuring has entered a crucial period, small and medium-sized enterprises as the economic structure of the most active economy, its healthy development is to increase employment opportunities, have a great role in promoting the transformation of economic development and social science and technology innovation ability. Therefore I our government has been given to the development of small and medium-sized enterprises from the perspective of policy support, the development of small and medium-sized enterprises encountered the problem of fund shortage has been alleviated. However, the amount of financing demand of small and medium-sized enterprises can get far higher than existing policy support funding, not its financing situation fundamentally better. Direct financing higher threshold and the limited capacity of indirect financing, mortgage credit is difficult, the high cost of financing, credit system is not perfect, the constraint mechanism is not implemented Other adverse factors make the existing policy support the supply of funds for the financing needs of SMEs or refuse to hold conservative attitude. Government intervention Rongza, policy implementation is not high, the low efficiency of the policy support. Therefore, the existing financing policy is not perfect and new ways of financing policy gaps need to financing policy at present the small and medium-sized enterprises of our country to support innovation and reconstruction, so as to ensure the financing gap of SMEs to reduce as much as possible, improve the financing environment for small and medium-sized enterprises. The current financing policy support involves many aspects, the emphasis and difficulty of the financing problems of SMEs in the financial system and financial system, so this article from the financial and financial level the level of selectively on the existing financing policies to improve and establish the new financing model. Firstly, the basic theory of the financing of small and medium enterprises Analyzed from comparing the two angles to analyze the definition of small and medium-sized enterprises, combing the relevant theory of financing of small and medium-sized enterprises. Secondly, the full analysis of the financing situation of SMEs in China, points out that the internal causes of the financing difficulties of SMEs and external causes. The status of financing policy for SMEs mainly from the financial policy at present, analysis of financial policy support, new financing mode of the policy support of gradual development, the problems in the process of implementation and policy. Third, Japan, Britain, the United States selected, SME financing policy more mature countries such as Germany, analysis of financing policies to support national and foreign characteristics, pointed out the government policy to support the financing of small and medium enterprises is mainly to improve the protection of the laws, by the government's fiscal policy oriented, combined with the financial policy support for small and medium sized enterprises financing Capital. Finally, combined with the actual situation of China's SME financing, SME financing policy reference foreign higher feasibility, put forward feasible suggestions and high new financing mode of thinking from the two aspects of Finance and finance, so as to enrich the existing financing policy of China's small and medium-sized enterprise support system. The main innovation of this paper is financial support for small and medium enterprises in the study belongs to the current hot topic of research and the current situation of the financing policy. Based on less mature SMEs based on the foreign popular for reference, selective analysis and innovation policy and investment loan linkage supply chain finance and financial policy support for SMEs. And for amending the limitation of investment loan linkage, suggestions on commercial banks directly to equity investment in Commercial Bank Law "as soon as possible, and in the current situation Under the conditions of the policy focus on standardizing business investment loan linkage within the banking group investment subsidiary and the "Bank + VC" mode of development; strengthen investment firewall construction; Enterprise Limited commercial banks for their own shares or holding loans, avoid opening policy easily lead to "rescue". The supply chain finance proposal to increase the Construction Bank, supply chain finance platform efforts; accelerate the improvement of the comprehensive service Internet plus supply chain finance; on the supply chain finance set level access. The innovation of the financing of SMEs fiscal policy mainly improve the financing of small and medium-sized enterprises of special funds policy, small and medium enterprises to increase the financial subsidies, the establishment of financial subsidies the mechanism of diversification to reduce rent-seeking.

【学位授予单位】：天津商业大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F276.3;F275

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