【作者】 林丽琼；

【导师】 张文棋；

【作者基本信息】 福建农林大学 ， 农业经济管理， 2009， 博士

【摘要】 中国农村中小企业信贷融资难问题由来已久,然而,对于一个非正规金融与正规金融并存的农村信贷市场,仅运用纯经济理论或将非正规和正规信贷市场割裂开来研究农村中小企业信贷融资似乎凸显功力不足。不难发现,农村中小企业作为一个企业组织嵌入在农村这个熟人社会或至少是半熟人社会,其信贷融资带有很强的社会性,血缘、亲缘、地缘等非经济因素已经成为企业信贷融资不可忽略的重要影响因素。基于以上考虑,本文选择从社会资本角度研究农村中小企业信贷可得性,一方面可以弥补传统研究的局限,另一方面可以从一个全新的角度为破解农村中小企业信贷融资困境提供崭新思路及其现实途径。本文的研究主旨是运用社会资本理论考察农村中小企业信贷获得的作用机理,实证研究分析社会资本对农村中小企业非正规信贷和正规信贷可得性的影响,主要研究内容有:(1)对企业主社会资本进行操作化定义,采用问卷调查数据从企业主的社会关系网络、信任、规范三个社会资本分量对企业主社会资本进行描述分析,归纳企业主的社会资本特征,为本文研究构建社会资本的理论分析框架;(2)从企业主的社会资本角度探讨农村中小企业非正规信贷和正规信贷获得的作用机理,为本文的实证研究提供理论依据;(3)采用样本数据和典型案例对企业主社会资本影响农村中小企业非正规信贷和正规信贷可得性进行分析,为本文的理论研究提供实证支持;(4)从社会资本角度提出破解农村中小企业信贷融资困境的政策建议。在研究方法上,本文主要运用规范研究与实证研究、定性与定量相结合的方法对农村中小企业信贷可得性进行研究。在实证研究过程中,第三章运用描述性统计方法分析农村中小企业业主的社会资本状况和特征。第五章运用因子分析方法对企业主社会资本进行因子分析,采用主成分分析方法提取了企业主社会资本的7个公共因子,进一步将所得因子值与农村中小企业非正规信贷和正规信贷可得性进行Logistic回归检验。第六章采用多案例研究方法分类例证企业主社会资本对农村中小企业信贷可得性的影响。本文通过理论和实证研究得到以下主要结论:(1)企业主社会资本作为整体对农村中小企业信贷可得性的影响较为显著,社会资本越传统,企业越依赖非正规信贷;社会资本越现代,企业越容易获得正规信贷。(2)在社会资本的分量指数中,熟人信任、普遍信任、规范对企业非正规信贷可得性具有显著的正向影响,其他社会资本分量指数对企业非正规信贷可得性的影响并不显著。(3)传统社会资本的负面效应使得企业难以突破对非正规信贷的融资依赖。(4)在社会资本分量指数中,网顶、熟人信任、贷款认知性三个变量对企业正规信贷可得性的影响是显著的,且是正向关系;普遍信任、规范两个变量的影响是显著的,且是负向关系;其他社会资本分量指数对企业正规信贷可得性的影响则不显著。(5)整合社会资本对企业获得正规金融机构贷款具有重要的作用。从社会资本角度系统研究农村中小企业信贷可得性是一个新的尝试,因此,本文的研究具有一定的开创性,并试图达到以下创新之处:第一,采用可操作性强的24个指标测量企业主社会资本,较为全面、客观地衡量了农村中小企业业主的社会资本;第二,从社会资本角度透视农村中小企业非正规信贷嵌入性依赖的机制,剖析农村中小企业突破正规信贷融资障碍的社会资本机理,构建了一个较完整的分析农村中小企业信贷融资的社会资本理论视角;第三,将因子分析方法和Logistic回归模型运用于企业主社会资本对农村中小企业信贷可得性的研究,实现了研究方法应用上的创新;第四,从社会资本这个全新的角度提出破解企业信贷融资困境的政策建议。当然,社会资本作为一个研究企业信贷融资的新视角,还有许多有待进一步开展的研究,如由于数据的可得性和研究的难度,部分研究的结论难以采用数据进行直接检验,只能通过典型案例进行佐证,因此,如何采集数据进一步拓展研究结论的应用范围值得继续探索。又如从企业主社会资本切入分析农村中小企业信贷融资问题,抓住了企业社会资本中的核心组成部分,而如何进一步系统全面地分析企业社会资本影响农村中小企业信贷可得性成了将来研究的方向。更多还原

【Abstract】 In China, the difficulty in rural small and medium-sized enterprises’credit financing is a long-standing problem. However, for the informal finance and formal finance co-exist in rural credit markets, only the use of economic theory or separate informal and formal credit market to study small and medium-sized enterprises’credit financing in rural areas seems inadequate. It’s obvious that rural small and medium-sized enterprises as the organizations embedded in the rural acquaintances or, at least, semi-acquaintances society have made their credit financing bear a remarkable sociality, and the non-economic factors such as blood, kinship and geopolitical relations have become the important ones to impact the enterprises credit financing. Based on the above considerations, the thesis chooses to study the availability of rural small and medium-sized enterprises’credit financing from the perspective of social capital, so as to make up for the deficiencies of the traditional researches, and to offer new ideas and realistic approaches to overcome the rural small and medium-sized enterprises’credit financing plight from a new perspective.The theme of this research is to apply social capital theory to study the mechanism of rural small and medium-sized enterprises obtaining credit financing, and to empirically analyze the influence of social capital on the rural small and medium-sized enterprises’informal and formal credits availability. Its major contents of research are included as follows. (1) The business owners’social capital is defined in applicability. According to the data from questionnaire, the business owners’social capital is described in the regard of three social capital components such as the business owners’social relationship network, trust and norms, and the business owners’social capital characteristics are summarized to offer the analytical framework in theory of social capital for this research. (2) In the regard of business owners’social capital, the mechanism of rural small and medium-sized enterprises obtaining informal and formal credit financing is detected so as to offer the theoretical basis for the empirical study of this thesis. (3) Sampling data and typical cases are used to analyze the influence of business owners’social capital on the rural small and medium–sized enterprises’informal and formal credits availability, so as to offer the empirical support for this thesis’theoretical research. (4) The policies to deal with the rural small and medium-sized enterprises’credit financing difficulties are proposed from the perspective of social capital.This thesis combines the normative study and empirical study, the qualitative and quantitative methods to study the rural small and medium-sized enterprises’credit availability. In the empirical research, Chapter III analyzes the current status and characteristics of rural small and medium-sized business owners’social capital by the use of descriptive statistical method. Chapter V analyzes the factors of the business owners’social capital by the method of factor analysis, and extracts seven public factors of the business owners’social capital by the method of principal component analysis. Furthermore, the collected factor values are taken to conduct Logistic regression test to verify the rural small and medium-sized enterprises’informal and formal credit availability. Chapter VI proves the influence of the business owners’social capital on the rural small and medium-sized enterprises’credit availability with the classified cases by the method of multi-cases study.This thesis, through theoretical and empirical research, has attained the following major conclusions. (1) Business owners’social capital as a whole has a significant effect on rural small and medium-sized enterprises’credit financing availability. The more traditional the social capital is, the more dependent on informal credit financing the enterprises are. The more modernized the social capital is, the easier the enterprises are to obtain formal credits. (2) Of the social capital component indexes, acquaintances trust, general trust, norms have significant positive effects on the enterprises’informal credit financing availability, other social capital component indexes do not impact the enterprises’informal credit financing availability significantly. (3) The negative effects of traditional social capital make it difficult for the enterprises to break through their dependence on informal credit financing. (4) Of the social capital component indexes, three variables such as net top, trust from acquaintances, loan cognition influence the enterprises’formal credit availability significantly and positively. The influence of other two variables, general trust and norms, are also significant, but negative. Other social capital component indexes affect the enterprises’formal credit financing availability insignificantly. (5) The integration of social capital plays an important role in the enterprises’obtaining loans from formal financial institutions.It is a new attempt to systematically study rural small and medium-sized enterprises’credit financing availability from the perspective of social capital. Therefore, this thesis has some ground-breaking researches and has tried to achieve the following innovations. Firstly, 24 feasible indexes are used to actually measure the rural small and medium-sized business owners’social capital in an all-round way.Secondly, the mechanism for the rural small and medium-sized enterprises’embedding-dependence on informal credit financing is explored from the perspective of social capital, and the social capital mechanism for the rural small and medium-sized enterprises to overcome the formal credit financing barriers is analyzed, so as to form a perfect theoretical perspective of social capital to analyze rural small and medium-sized enterprises’credit financing. Thirdly, the factor analysis and Logistic regression model are used to investigate the effect of social capital on the rural small and medium-sized enterprises’credit financing availability so as to bring about the innovation of research methods application. Fourthly, the policies to deal with the enterprises’credit financing difficulties are proposed from a new perspective of social capital.Of course, social capital, as a new perspective to study enterprises’credit financing, still has much for further research. For example, because of the difficulties of data availability and study, some conclusions can not be put into direct data test, and they have to be proved by typical cases only. Therefore, how to collect data to extend the range of application of the research conclusions is worth further exploration. Meanwhile it only deals with a major part of enterprises’social capital to analyze rural small and medium-sized enterprises credit financing based on business owners’social capital. And how to conduct a further systematic analysis of the impact of enterprises’social capital on the rural small and medium-sized enterprises credit financing availability in an all-round way becomes the future research direction.更多还原