中小企业融资渠道创新探析

【作者】 杨振鹏；

【导师】 种明钊；

【作者基本信息】 西南政法大学 ， 经济法， 2007， 硕士

【摘要】 中小企业是市场经济中最基础最活跃的细胞和因素，由于中小企业天然的市场优势，他在确保国民经济稳定增长、缓解就业压力、拉动民间投资、优化经济结构、促进市场竞争、推进技术创新、促进市场繁荣、方便群众生活、保持社会稳定等方面具有大企业所不可替代的地位和作用。但是由于中小企业投资规模与市场竞争力不足、抗风险能力低、需求不足时很容易被挤出市场，在市场竞争中有着其天然的劣势和弱点。尤其是中小企业的融资问题更成为制约中小企业发展的瓶颈。中小企业的融资问题是一个结构性和制度性的问题，是一个企业内部因素，金融体制，政府政策等各种因素相互作用的结果。本文从中小企业融资渠道入手，突破传统融资渠道，通过对融资渠道的创新，探索适合于中小企业融资的不同形式的融资渠道。从中小企业融资渠道创新的必要性和可能性入手，论述了为什么要进行中小企业融资渠道创新，以及创新的各种制度性条件。然后具体重点的通过对民间借贷、合作金融、金融中介、中小企业银行等形式本身特点分析，对中小企业融资的优越性和契合性分析，论述了如何创立民间直接借贷投资渠道，发展中小企业合作金融、金融中介，建立针对中小企业的银行体系，积极探索不同形式的中小企业融资渠道。中小企业融资渠道创新是一个系统的制度性的问题，要进行中小企业融资渠道创新需要各种制度的保障和支持，本文在最后通过对中小企业信息和信用体系的建立，中小企业融资渠道法律体系的构建为中小企业提供了创新的保障和支持。该论题不仅仅是对中小企业融资渠道创新的一种探索，更是对中小企业发展机制的探索，是在WTO环境下对我国投融资制度，对我国金融制度创新的一种思考。本文共有六部分：第一部分是论述中小企业融资渠道。主要阐述我国中小企业概念，对我国经济发展的作用及意义、发展现状、政策法律环境等，点明其资金缺乏的困境。然后论述了中小企业融资渠道概念，揭示了中小企业融资渠道的渠道单一，结构不合理，融资成本过高的问题，并对形成问题的原因进行分析。第二部分主要是融资渠道创新的必要性分析。由于我国传统的融资渠道如银行、非银行金融机构、证券市场基于各自的特点和性质，与中小企业融资需求之间具有结构和性质上的不匹配性和非对称性，所以在中小企业融资中不能满足中小企业融资需求，中小企业融资渠道问题难以在传统融资渠道范围内解决，所以我们必须进行融资渠道创新。第三部分是融资渠道创新的可能性分析。我国金融市场的发展，国家进行金融制度的改革，我国存在的大量资金的支持以及我国在WTO下的宏观金融环境都是我国进行中小企业融资渠道创新的条件，为我国中小企业融资渠道创新提供了制度上和物质上的准备。第四部分是全文的重点，是对中小企业融资渠道创新形式的探索。通过对民间借贷、合作金融、金融中介、中小企业银行等形式本身概念特点和优缺点分析，论述了这些融资渠道与中小企业融资的优越性和契合性，以及如何创立民间直接借贷投资渠道，发展中小企业合作金融、金融中介，建立针对中小企业的银行体系，促进中小企业融资，积极探索不同形式的中小企业融资渠道。第五部分是论述中小企业融资渠道创新的保障，针对中小企业融资主要问题的信用和信息缺失的特点，分析信用和信息缺失的原因，论述了信用和信息对中小企业融资渠道创新的重要性和必要性，建立完整系统的信用体系和信息体系无疑是对中小企业进行融资渠道创新的重要保障。第六部分是论述中小企业融资渠道创新的法律支持，通过建立以基本法律为基础，《中小企业促进法》为中心和指导，中小企业公平竞争法律、《中小金融业法》、《中小企业组织法》、《中小企业融资法》等各种形式的具体法律制度构成的中小企业融资体系是中小企业融资渠道创新的制度和法律上的支持。更多还原

【Abstract】 Small and medium-sized enterprise (SME)is the basically and powerful cell andelement in the market economy. because of SME natural market advantage, it has theposition and function that the big business enterprise can’t act for in the aspects ofinsuring a national economy staility growth, alleviating employment pressure, pullingto move a folks investment, excellently turning economic structure and helping themarket to compete, push forward technique creatively, promote market prosperous andconvenient crowd living and keeping social stabilize and so on. But because SME scaleand market competition ability is shortage, the anti-risk’s ability is low, it is extruded amarket very easily when need is shortage. Because of its natural weakness in the marketcompetition, It has been the bottleneck problem particularly SME checking andsupervision’s develop more. The problem of SME is a structure and system problem, itis the result of various factor interactions such as internal factors in business enterprise,financial system, the government policy. The paper seeks different forms of financeways that is suitable to SME. It discussed why do the finance way innovation of theSME, and various creative system conditions. Then concrete the point of folk debit andcredit, cooperation finance, finance medium and SME bank etc. form characteristicsanalysis, disused the coherence between SME and above, discussed how to establishthe folks directly debit and credit finance way, and develop finance medium andcooperate finance, build up SME bank system. At last this paper is provided creativeguarantee and support to the SME finance way by establishment of the SMEinformtion, the reputation system, the law of the SME finance way. The theory’s notonly to seek different forms of innovation of SME finance way, more is quest ofmechanism of the SME development under the WTO environment,and is also thekind of thinking of financial system innovation.This text totally has seven parts.The first part discussed SME finance way Mainly elaborate the SME concept inour country, the function and meaning of our country economic development,development present condition, policy law environment etc. Then discussed concept ofthe SME, announced to public the problem of SME finance way,such as the narrow offinance way, the structure isn’t reasonable, the margin cost leads a high problem, and tocarry on analysis for the formation reason of problem. The second part is mainly the creative necessity analysis of the SME finance wayinnovation. Because traditional finance way such as bank, non- bank financinginstitution, stock market don’t match SME finance in structure and property accordingto respectively of characteristics and property, so they can’t satisfy the need of SMEfinance. It is hard to resolve in the traditional finance way scope, so we have to carry onthe innovation the SME finance way.The third part is the possibility analysis of the SME finance way innovation. Thedevelopment of our country financial market, the nation carries on the reform of financesystem, our country support of existent great deal of funds and the financialenvironments under the WTO are all the conditions of the SME finance wayinnovation. They provided the system and the preparation of the material for financeway innovation.The four-part is the point of full paper, is the quest of new forms for SME financeway innovation. By folk debit and credit, cooperate finance, finance medium and SMEbank etc form concept characteristics and merit and shortcoming analysis, discussedthese SME finance way superiority with coherence and how to establish the folksdirectly debit and credit finance way, and develop finance medium and cooperatefinance, build up SME bank system, promote SME finance, actively investigate adifferent form of SME finance way.The fifth part is to discus the guarantee of the SME finance way innovation. aimat reputation and information imperfection characteristics of SME finance, analyze thereason of reputation and informtion imperfection, discussed the importance and thenecessity of the reputation and information to SME finance way innovation, reputationsystem and information system which build up complete system doubtless is to carryon the important guarantee to the SME finance way innovation.The sixth part is to discuss law support of the SME finance way innovation, takebasic law as foundation,《SME promote law》is center and guide, SME fair competitionlaw,《SME finance industry law》,《SME organic law》《SME finance law》etc. Thesystem of SME finance constitutes by multiform and concrete law is law and juridicalsupport for SME finance way innovation.更多还原