保险介入对中小企业融资影响的理论机理及实证分析

发布时间：2019-06-29 17:12

【摘要】：中小企业作为经济发展不可或缺的主体在我国经济发展中就业、出口等方面的作用越来越突出，但是由于企业自身、金融环境和政策体制等方面的原因，中小企业一直面临着融资难题，这严重抑制了中小企业的发展，也抑制了我国经济前进的步伐。因此，解决中小企业融资难是目前金融界和学术界广泛讨论和亟待解决的问题。本文是在构建和完善中小企业信用保证体系的背景下，主要分散中小企业风险的担保机构由于种种原因，自身不能完全发挥或不愿发挥出应有的作用，提出以保险的方法来增加中小企业信用系数、增加金融机构信心、分散担保公司风险、构建完善中小企业信用融资体系。本文主要运用的方法是理论分析与比较分析相结合、定性分析与定量分析相结合，研究保险这一因素的介入对中小企业融资的影响情况。之前以往的研究都是理论层面上的，几乎没有实证分析过保险因素对中小企业融资的影响情况，本文将打破这一局面进行定量分析，这也是本文最大的创新点。理论分析部分，对我国中小企业融资的现状与融资难的原因进行简要分析，再对保险介入中小企业融资有重大意义的基础上，借鉴中小企业信用体系健全的美国、日本、韩国等发达国家和农村小额信贷保险成熟的印度、菲律宾等发展中国家以及国内浙江、台湾地区的成熟经验，从投保人的不同介绍了我国现有的以及设想的可行的七种经验模式，即投保人是企业的抵押贷款保险模式和贷款保证保险模式、投保人是银行的贷款信用保险模式、担保机构信用保险模式、租赁信用保险模式、出口信用保险模式、动产质押监管责任保险模式以及保险贷款和保单质押模式。实证部分，选取中小企业工业行业和保险公司2005-2011年近7年的数据，以我国31个省、自治区、直辖市为研究对象构建固定效应面板数据模型，将保险这一指标进行量化，从保险公司的角度反应企业融资投保的意愿。对模型设定的准确性进行检验，通过检验结果对模型进行优化，验证保险这一因素的介入对中小企业融资是否具有影响。最后针对实证结果从保险机构、中小企业和政府三个方面提出了相应的政策建议。通过本文的研究，不仅在理论方面对解决中小企业融资难题提供了补充和深化，为以后相关的研究提供理论上的借鉴，更在实践中保险介入中小企业融资增强中小企业信用，解决中小企业融资难题，拓宽保险公司业务，减小银行等金融机构的融资风险，，完善中小企业信用保证体系建设提供了应用方面的依据和借鉴价值。
[Abstract]:As an indispensable subject of economic development, small and medium-sized enterprises play a more and more important role in the economic development of our country. However, due to the reasons of enterprises themselves, financial environment and policy system, small and medium-sized enterprises have been facing financing problems, which seriously restricts the development of small and medium-sized enterprises and the pace of economic progress in our country. Therefore, solving the financing difficulties of small and medium-sized enterprises is a widely discussed and urgent problem in the financial and academic circles. Under the background of constructing and perfecting the credit guarantee system of small and medium-sized enterprises, the guarantee institutions which mainly disperse the risk of small and medium-sized enterprises can not give full play to or are unwilling to play their due role due to various reasons, and put forward the method of insurance to increase the credit coefficient of small and medium-sized enterprises, increase the confidence of financial institutions, disperse the risk of guarantee companies, and construct and perfect the credit financing system of small and medium-sized enterprises. The main methods used in this paper are the combination of theoretical analysis and comparative analysis, qualitative analysis and quantitative analysis, to study the impact of insurance intervention on the financing of small and medium-sized enterprises. The previous studies are all theoretical, almost no empirical analysis of the impact of insurance factors on the financing of small and medium-sized enterprises, this paper will break this situation for quantitative analysis, which is also the biggest innovation of this paper. In the part of theoretical analysis, this paper briefly analyzes the present situation of financing of small and medium-sized enterprises in China and the causes of financing difficulties, and then on the basis of great significance for insurance intervention in the financing of small and medium-sized enterprises, draws lessons from the mature experience of the United States, Japan, South Korea and other developed countries with sound credit system of small and medium-sized enterprises, India, Philippines and other developing countries, as well as Zhejiang and Taiwan This paper introduces seven feasible empirical models in our country from the different policy holders, namely, the mortgage insurance mode and loan guarantee insurance mode of the enterprise, the loan credit insurance mode of the bank, the credit insurance mode of the guarantee institution, the lease credit insurance mode, the export credit insurance mode, the chattel pledge supervision liability insurance mode and the insurance loan and policy pledge mode. In the empirical part, the data of industrial industry and insurance company of small and medium-sized enterprises from 2005 to 2011 are selected, and the fixed effect panel data model is constructed with 31 provinces, autonomous regions and municipalities directly under the Central Government as the research object. The index of insurance is quantified, and the willingness of enterprise financing and insurance is reflected from the point of view of insurance companies. The accuracy of model setting is tested, and the model is optimized through the test results to verify whether the intervention of insurance has an impact on the financing of small and medium-sized enterprises. Finally, according to the empirical results, the corresponding policy recommendations are put forward from three aspects: insurance institutions, small and medium-sized enterprises and the government. Through the research of this paper, it not only complements and deepens the financing problems of small and medium-sized enterprises in theory, but also provides theoretical reference for the related research in the future, but also in practice, insurance intervention in the financing of small and medium-sized enterprises enhances the credit of small and medium-sized enterprises, solves the financing problems of small and medium-sized enterprises, broadens the business of insurance companies, and reduces the financing risks of banks and other financial institutions. Perfecting the construction of credit guarantee system of small and medium-sized enterprises provides the application basis and reference value.
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F842;F276.3;F275

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