【作者】 张伟如；

【导师】 蒋先玲；

【作者基本信息】 对外经济贸易大学 ， 金融学， 2014， 博士

【摘要】 小微经济在我国整体经济体系中的重要性日益显著。从1990年以来，我国GDP保持了超过年平均9.8%的高速增长，在公有制经济得到长足发展和巩固的同时，非公有制经济特别是小微企业也保持了迅猛的发展势头，并且对中国整体经济发展提供了重要的支撑作用。相对于大中型企业，小微企业在紧跟市场需求、灵活调整经营机制方面具有天然优势，在保障充分就业、推动技术创新、克服劳动力成本不断上升方面具有不可替代的作用。当前我国正处在进一步优化经济结构、开展新型城镇化建设、向消费型社会转型重要时间节点，小微经济凭借其鲜明的特点，正发挥着越来越显著地作用。尽管国家和政府逐步重视小微企业融资问题，但是小微企业融资仍然十分困难是不争的事实。小微企业在经营过程中，资金短缺问题仍然是制约其发展的最主要原因之一。很多小微企业的融资很大程度上被限制在自我融资的狭小范围内，发展速度和发展潜力都受到严重制约。本文在总结前人研究成果的基础上，从经济学角度分析商业银行对小微企业“惜贷”的原因；通过对中国银行市场结构分析，分析市场集中度变化对小微企业贷款的影响；通过不同商业银行规模对小企业融资差异研究，探索不同类型商业银行对小企业的支持效率；通过XX银行小微企业信贷的经验分析，探求商业银行开展小微企业信贷的有效途径。通过研究本文有以下结论：第一，我国小微企业数量众多，分布行业广泛，但存在经营管理不规范、抗风险能力差等问题，小微企业金融服务也存在覆盖率低、渠道单一、供给不足等现象。本文通过运用供求关系理论分析，可以看出当前小微企业金融服务存在的巨大供需缺口。第二，从信贷配给的理论角度，对商业银行小微企业“惜贷”的原因进行分析。逆向选择和道德风险因素导致商业银行尽管有很多可贷资金，但出于风险控制的因素只能对小微企业谨慎放贷，因此，能获得银行放贷的企业比例仍然很小，出现小微企业融资难的局面就不足为奇了。第三，运用银行业市场结构理论，经过数据分析后指出，我国银行业集中度呈下降的趋势，伴随银行业集中度快速下降的过程中，小微企业贷款增长速度逐渐提高，其中，股份制商业银行的小微企业贷款增长速度明显高于国有大型商业银行的增长速度。第四，我国中小商业银行在对支持小微企业融资效率方面相比大型国有银行具有优势。首先，中小银行与客户地域联系密切，对本地企业比较了解，能够解决信息不对称，大型银行不具有这一优势。其次，中小银行在关系型贷款中具有优势，其扁平化的组织机构有利于对小微企业发放关系型贷款。最后，大型国有商业银行缺乏针对小微企业的贷款激励，对经营规模小、固定资产少、抵押物不足的小微企业，贷款标准比中小商业银行苛刻。第五，商业银行是小微企业金融服务的重要主体和供给来源，也是解决小微企业金融服务难题的关键所在。通过分析XX银行开展小微企业信贷经验，发现商业银行只有转变经营管理理念，进行差异化的市场定位，在战略、管理、营销、技术和人才等方面进行推动，加强能力建设，提高经营效率，降低服务成本，增加供给，才能为更多的小企业提供综合的金融服务，逐步解决小企业金融的供需缺口。本文创新之处主要体现在以下四点：第一，运用信贷配给理论，分析了商业银行对小微企业“惜贷”的原因。发现由于信息不对称的存在而引起的各类风险，总类上可以分为逆向选择和道德风险两种类型。这两种因素导致商业银行尽管有大量的可贷资金，但从强化风险控制的角度而选择对小微企业谨慎放贷，进而形成了小微企业融资难的状况。第二，银行业集中度下降会增加中小银行业行对小微企业信贷融资。本文通过实证分析发现，随着我国银行业集中度下降，国有银行和中小银行对小微企业的贷款总额呈增加的趋势，但存在中小银行对小微企业信贷的比例增长速度高于大型银行的态势。第三，大中小银行在支持小微企业信贷融资方面相对大型银行具有比较优势，也具有更高的效率。本文使用DEA方法研究商业银行规模结构对小微企业信贷融资的影响，将商业银行分为国有型银行、中小银行进行研究，验证大型银行和中小银行支持小微企业信贷融资效率存在差异性。第四，通过分析XX银行开展小微企业信贷经验，发现商业银行必须转变经营管理理念，进行差异化的市场定位，在战略、管理、营销、技术和人才等方面进行推动，加强能力建设，提高经营效率，降低服务成本，增加供给，才能为更多的小企业提供综合的金融服务，逐步解决小企业金融的供需缺口。更多还原

【Abstract】 The importance of small and micro economy in China’s overall economic systemis increasingly significant. Since1990, the annual growth of China’s GDP maintainedmore than9.8%. With the rapid economic development and consolidation of thepublic sector, the non-public economy, especially small and micro enterprises havemaintained a rapid development momentum, and provided an important supportingrole in the overall economy of China development.Relative to medium-sized enterprises, small and micro enterprises have a naturaladvantage in keeping up with market demand and adjusting the operating mechanisms.They also have an irreplaceable role in ensuring full employment, and promotingtechnology innovation to overcome the rising cost of labor. Currently, China isworking to optimize the economic structure, to carry out the construction of the newurbanization, and to transit to a consumer society. With its small micro-economiccharacteristics, small and micro enterprises are playing an increasingly significant rolein China.The indisputable fact is that small and micro enterprises are very difficult tofinance, although the Chinese government and financial institutions pay moreemphasis on it. In the business course of small and micro enterprises, shortage offunds is still one of the main reasons for restricting its development. Many small andmicro business financing has been largely restricted to a narrow range of self-financing, and the pace of development and growth potential are severely constrained.Basing on the results of previous studies, this paper analyzes the reasons of smalland micro enterprises lacking the bank loan payment from an economic perspective.Through analyzing the Chinese bank market structure, this paper analyzes the impactof loans to small and micro enterprises when market concentration changes. Throughthe research of different commercial banks to small and micro enterprises, this paperexplores support efficiency of different types of commercial banks. Through theanalysis of credit experience of XX bank to small and micro enterprises, this paperexplores an effective way for commercial banks credit to small and micro enterprises.By studying this paper draw the following conclusions:First, there are a large number of small and micro enterprises in China, and theindustry is widely distributed. But there is no standardized management, and theanti-risk ability is poor. Besides, there are other problems of financial services tosmall and micro enterprises, such as low coverage, the single channel, insufficient supply and so on. In this paper, we can see the giant gap between financial servicessupply and demand of small and micro enterprises by using of theoretical analysisabout the relationship between supply and demand.Second, this paper analyze the reasons of commercial banks “credit crunch " tosmall and micro enterprises from a theoretical point of credit rationing. Adverseselection and moral hazard factors lead that commercial banks control prudent lendingto small and micro enterprises only for the factors of risk, although there are a lot ofloanable funds. There is still small percentage of enterprises being able to obtain banklending; therefore, financing difficulties in small and micro enterprises are notsurprising.Third, by using the theory of the banking market structure, we can see that theconcentration of the banking sector showed a downward trend through data analysis.With the process of the rapid decline in the concentration of the banking sector, smallmicro-enterprise loans growth rate gradually increased, in which small and microenterprises lending growth rate of joint-stock commercial bank is higher than thegrowth rate of large state-owned commercial banks.Fourth, China’s small and medium commercial banks have advantages infinancing efficiency to support small and micro enterprises compared to largestate-owned banks. Firstly, the area closes ties between small banks and customers, sothe small and medium commercial banks have a better understanding of localenterprises, which can solve information asymmetry. Large banks do not have thisadvantage. Secondly, small banks have an advantage in relationship lending, and itsflat organizational structure is conducive to obtain relationship lending of small andmicro enterprises. Finally, large state-owned commercial banks lack incentives tolending to small and micro enterprises for the small scale, low fixed assets, shortageof collateral in small and micro enterprises, in other words, the lending standards inlarge state-owned commercial banks are harsher than small and medium commercialbanks.Fifth, the commercial banks play an important role in financial services of smalland micro enterprises. They are main source of supply and the key to solve theproblem of small and micro enterprises in financial services. Analysis carried out inXX bank’s credit experience of small and micro enterprises, and we found that inorder to provide comprehensive financial services to more small business andgradually resolve financial gap between supply and demand, commercial banks must change management philosophy, implement differentiated market positioning, buildcapacity in strategy, management, marketing, technology and human resources,improve operational efficiency, reduce service costs, and increase supply.This article innovates mainly in the following four points:Firstly, by using credit rationing theory, we analyze the reasons of commercialbanks “credit crunch ".to small and micro enterprises. We found the risks caused bythe presence of asymmetric information, which can be divided into two types, namelyadverse selection and moral hazard. These two factors have led that commercial bankscontrol prudent lending to small and micro enterprises only for the factors of riskalthough there are a lot of loanable funds. Therefore, financing difficulties of smalland micro enterprises is not surprising.Secondly, the declined concentration in the banking sector will increase thefinancing of small and medium-banking for small and micro enterprises. Throughempirical analysis, we found that as the concentration of the banking sector declined,loans of state-owned banks and small banks to small and micro businesses showed anincreasing trend, in which, the proportion of loans in small banks to small and microenterprises grow faster than the rise of large banks, in which small and microenterprises lending growth rate of small banks is higher than the growth rate of largebanks.Thirdly, the medium and small banks have a comparative advantage relative tolarge banks to support small and micro enterprises in the credit financing. It also has ahigher efficiency. This paper used DEA method to study the influence of scale andstructure on commercial banks to small and micro enterprises credit financing. Weverify credit efficiency of the large banks and small banks by dividing them intostate-owned commercial banks and the medium and small banks.Fourthly, analysis carried out in XX bank’s credit experience of small and microenterprises, and we found that in order to provide comprehensive financial services tomore small business and gradually resolve financial gap between supply and demand,commercial banks must change management philosophy, implement differentiatedmarket positioning, build capacity in strategy, management, marketing, technologyand human resources, improve operational efficiency, reduce service costs, andincrease supply.更多还原