信息不对称视角下的中小企业关系型融资研究

发布时间：2018-03-22 19:28

本文选题：中小企业　切入点：信息不对称　出处：《北京交通大学》2017年硕士论文　论文类型：学位论文

【摘要】：在我国目前中小企业无论是在促进经济增长还是稳定就业方面都起到重要作用。但是与中小企业蓬勃发展形成鲜明对比的是中小企业普遍融资困难。原因一是因为中小企业资产规模小,缺乏合格抵押物;二是中小企业抵御风险能力差。但是根本原因是银行与企业之间的信息不对称,中小企业大多财务制度不完善,银行难以获取企业信息对资金风险做出合理评估。银行仅利用利率工具调节资金需求容易导致逆向选择的发生,而企业获得贷款之后缺乏必要监管又容易出现道德风险。综上分析,中小企业在融资过程中容易受到信贷配给。因此,要解决中小企业的融资困境,必须降低银行与企业之间的信息不对称。尝试从信息获取的角度分析缓解中小企业融资难题的可能性与条件。分析信息获取如何缓解信贷配给,增加企业贷款可得性。最后结合具体的案例进行分析,找出缓解中小企业融资的有效解决方法,并提出建议。通过对理论和具体案例的分析我们可以得出结论:缓解中小企业融资难题的关键在于降低企业与银行之间的信息不对称。为了降低银行与企业之间的信息不对称,银行应该在贷款之前对企业的信息进行搜集,并对贷款之后的企业行为进行有效的监督,使得银行与企业之间保持长期的密切合作关系。企业成为银行的关系型客户,提高了企业的贷款可得性。因此作为中小企业本身应该主动向银行披露相关信息,降低银行信息获取的成本从而降低自己的融资成本,达到双赢的效果。
[Abstract]:At present, small and medium-sized enterprises play an important role in promoting economic growth or stabilizing employment in our country. But in sharp contrast to the flourishing development of small and medium-sized enterprises, the difficulties in financing are common for small and medium-sized enterprises. For small and medium-sized enterprises with small assets, Lack of qualified collateral; second, the ability of small and medium-sized enterprises to resist risks is poor. However, the fundamental reason is that the information between banks and enterprises is asymmetric, and most of the small and medium-sized enterprises have imperfect financial systems. It is difficult for banks to obtain enterprise information to make a reasonable assessment of capital risk. Banks only use interest rate tools to adjust capital demand, which can easily lead to adverse selection. However, the lack of necessary supervision and supervision of enterprises after obtaining loans is prone to moral hazard. In summary, SMEs are vulnerable to credit rationing in the process of financing. Therefore, to solve the financing dilemma of SMEs, It is necessary to reduce the information asymmetry between banks and enterprises, try to analyze the possibility and condition of alleviating the financing problems of SMEs from the angle of information acquisition, and analyze how access to information can ease credit rationing. Increase the availability of enterprise loans. Finally, combining with specific cases to analyze, find out the effective solution to alleviate the financing of small and medium-sized enterprises. Through the analysis of theory and specific cases, we can draw the conclusion that the key to alleviate the financing problem of SMEs lies in reducing the information asymmetry between enterprises and banks, in order to reduce the information asymmetry between banks and enterprises. The bank should collect the information of the enterprise before the loan, and supervise the behavior of the enterprise after the loan, so that the bank and the enterprise can maintain the long-term close cooperation relationship. The enterprise becomes the relationship customer of the bank. Therefore, as small and medium-sized enterprises themselves should actively disclose the relevant information to the bank, reduce the cost of obtaining bank information and reduce their own financing costs to achieve win-win results.
【学位授予单位】：北京交通大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F276.3;F832.4

【参考文献】