我国中小企业融资贷款关键问题及对策研究

发布时间：2018-06-27 20:31

本文选题：中小企业 + 融资　；参考：《南京航空航天大学》2015年硕士论文

【摘要】：中小企业是我国国民经济最为重要的组成部分,为推动经济发展和维护社会稳定起着重要作用。自从90年代中期以来,我国中小企业发展迅猛,在促进科技创新,优化产业结构,推动经济发展等方面发挥巨大作用。但是,由于中小企业自身的一些缺陷以及我国政治政策、经济制度等因素的制约,中小企业面临严重的融资困境,极大的限制了中小企业的发展。因此,对中小企业融资问题的研究具有重要的理论和现实意义。本文首先介绍了研究背景及意义,对国内外关于中小企业融资的最新研究成果进行了总结。其次,简单概括了博弈论的相关知识,建立了银企博弈的两个基本模型,并且引入信号传递博弈模型,分析其均衡情况,得出导致中小企业融资难的重要原因是信息不对称。随后进一步研究发现相较信息不对称,不确定性才是影响中小企业融资难的根本原因。通过分析,得出在连续时间下企业预期现金流与企业收入增长率的波动率成正比,与企业的不确定性成本数量成反比。在离散时间下企业的不确定性大小决定了变量的收敛速度;当企业资本投入的不确定性固定时,企业的投资价值将随着现金流比率即收益不确定性的增加而增加。针对企业的投资时机得到银行对企业是否发放贷款的触发点。最后综合前面的分析,提出改善中小企业融资困境的途径和方法。
[Abstract]:As the most important part of our national economy, SMEs play an important role in promoting economic development and maintaining social stability. Since the middle of 1990s, the small and medium-sized enterprises in our country have developed rapidly, which plays an important role in promoting scientific and technological innovation, optimizing industrial structure and promoting economic development. However, due to some defects of SMEs and the restriction of political policy and economic system of our country, SMEs are faced with serious financing difficulties, which greatly limit the development of SMEs. Therefore, the research on the financing of SMEs has important theoretical and practical significance. This paper first introduces the research background and significance, and summarizes the latest research results of SMEs financing at home and abroad. Secondly, this paper briefly summarizes the relevant knowledge of game theory, establishes two basic models of bank-enterprise game, and introduces the signaling game model to analyze its equilibrium. It is concluded that the important reason leading to the difficulty of SME financing is information asymmetry. Then it is found that compared with asymmetric information, uncertainty is the root cause of SMEs' financing difficulties. Through analysis, it is concluded that the expected cash flow is in direct proportion to the volatility of the growth rate of enterprise income and the amount of uncertain cost is inversely proportional to the amount of uncertain cost. When the uncertainty of the firm capital input is fixed, the investment value of the firm will increase with the increase of the cash flow ratio, that is, the uncertainty of the return. According to the investment opportunity of the enterprise, the trigger point of whether the bank makes the loan to the enterprise or not. Finally, synthesizing the previous analysis, the paper puts forward the ways and methods to improve the financing predicament of small and medium-sized enterprises.
【学位授予单位】：南京航空航天大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：F276.3;F832.4

【相似文献】