资产规模、融资路径与商业信用供给
发布时间：2019-06-17 17:27
【摘要】：现有文献就企业规模对企业商业信用供给有不同的研究结论,说明这一方面的研究还有待完善。本文结合数理模型和实证研究,分析不同企业规模下,融资路径不同对企业商业信用供给的影响。研究发现,我国中小企业在发展未达到一定规模之前,受市场竞争劣势影响,需要提供大量商业信用来维持市场生存和发展,而此时由于我国金融系统对中小企业的信贷歧视,获得银行信贷支持比较少,因此需要大量的商业信用融资来支持商业信用提供。随着商业信用融资的增加,融资成本提高,最终导致商业信用提供力度逐步下降。当企业发展超出一定规模后,银行信贷支持逐步增强,企业可以用银行信用替代成本更高的商业信用融资,导致商业信用融资逐步下降,同时也使得企业提供商业信用的能力上升。文章研究结论表明,商业信用提供与企业规模之间的关系不是简单的线性关系,而是一个二次函数关系。
[Abstract]:The existing literature has different research conclusions on the supply of the enterprise's commercial credit with respect to the size of the enterprise, and the research on this aspect is still to be improved. Based on the mathematical model and the empirical study, this paper analyzes the influence of different financing paths on the supply of commercial credit in different enterprises. The research shows that, before the development of the small and medium-sized enterprises in China has not reached a certain scale, it is necessary to provide a large amount of commercial credit to maintain the survival and development of the market. At this time, due to the credit discrimination of the financial system of our country to the small and medium-sized enterprises, the credit support of the bank is less. There is therefore a need for a large amount of commercial credit financing to support commercial credit provision. With the increase of commercial credit financing, the financing cost is increased, resulting in a gradual decline in the supply of commercial credit. When the development of the enterprise exceeds a certain scale, the bank credit support is gradually enhanced, and the enterprise can use the bank credit to replace the commercial credit financing with higher cost, resulting in the gradual decline of the commercial credit financing and the increase of the ability of the enterprise to provide the commercial credit. The conclusion of the article shows that the relationship between the commercial credit and the size of the enterprise is not a simple linear relationship, but a quadratic function.
【作者单位】： 安徽工业大学管理学院;
【基金】：国家哲学和社会科学基金资助项目“内部资本市场对企业集团成长的作用机制研究”(11BGL022) 安徽省哲学社会科学规划项目“基于承接产业转移的安徽资本市场建设研究”(AHSK09-10D49)
【分类号】：F276.3;F832.3;F224
[Abstract]:The existing literature has different research conclusions on the supply of the enterprise's commercial credit with respect to the size of the enterprise, and the research on this aspect is still to be improved. Based on the mathematical model and the empirical study, this paper analyzes the influence of different financing paths on the supply of commercial credit in different enterprises. The research shows that, before the development of the small and medium-sized enterprises in China has not reached a certain scale, it is necessary to provide a large amount of commercial credit to maintain the survival and development of the market. At this time, due to the credit discrimination of the financial system of our country to the small and medium-sized enterprises, the credit support of the bank is less. There is therefore a need for a large amount of commercial credit financing to support commercial credit provision. With the increase of commercial credit financing, the financing cost is increased, resulting in a gradual decline in the supply of commercial credit. When the development of the enterprise exceeds a certain scale, the bank credit support is gradually enhanced, and the enterprise can use the bank credit to replace the commercial credit financing with higher cost, resulting in the gradual decline of the commercial credit financing and the increase of the ability of the enterprise to provide the commercial credit. The conclusion of the article shows that the relationship between the commercial credit and the size of the enterprise is not a simple linear relationship, but a quadratic function.
【作者单位】： 安徽工业大学管理学院;
【基金】：国家哲学和社会科学基金资助项目“内部资本市场对企业集团成长的作用机制研究”(11BGL022) 安徽省哲学社会科学规划项目“基于承接产业转移的安徽资本市场建设研究”(AHSK09-10D49)
【分类号】：F276.3;F832.3;F224
【参考文献】
相关期刊论文 前10条
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