我国中小企业融资难问题研究

摘  要

本文首先分别从内源融资和外源融资的现状对中小企业融资困难的现状进行了阐述，其中外源融资现状主要从直接融资现状和间接融资现状两方面来说。然后又分别从内在原因和外在原因对我国中小企业融资困难的原因进行综述，外在原因主要从政府、银行、金融体系、资本市场体系、我国中小企业信用担保机构、风险投资机制以及民间资本等方面存在的问题来阐述；内在原因主要介绍了中小企业生存率低、产权归属不明确、信用缺失、信息不对称导致逆向选择和道德风险所以才使投资者望中小企业而却步。最后针对上述原因提出解决中小企业融资困难的政策和条件，其中外部政策包括政府要提供法律支持、健全资本市场，拓宽融资渠道、健全金融体系、不断完善我国的信用担保机构，改善其存在的诸多缺陷、建立完备的风险投资机制、解决商业银行存在的诸多问题和规范民间资本，向民间资本开放市场，使民间金融逐步走向合法化；内在条件包括培育企业的核心竞争力，增强其生存能力、推动产权改革，明晰产权关系、强化信用意识和通过多方合作，降低信息不对称的程度。

关键词：中小企业 融资 金融体系
ABSTRACT

This paper first expatiates on the SME financing difficulties respectively from the current situation of internal financing and external financing, between which the external financing is mainly from direct financing and indirect financing. Then it summarizes the reasons of SME financing difficulties from internal and external aspects. The external reasons are mainly from the government, banks and the financial system, capital market system, China's SME credit guarantee institutions, risk investment mechanism and private capital and other aspects of the problems to elaborate; the internal reasons mainly introduces the low survival rate of SME, property ownership is not clear, Credit Loss, Asymmetric information leads to adverse selection and moral hazard, which make the investor retreat; Finally, according to the above reasons it puts forward the policies and terms of solving SME financing difficulties. The external policy includes the providing of legal support by government, a sound capital market, broadening of the financing channels and the improvement of the financial system, constantly improvement of China's credit guarantee institutions to improve their existence various defects and to establish a complete risk investment mechanism, Commercial banks have to solve many problems and the norms of civil capital, opening up to private capital markets, civil financial gradually legalized; Internal conditions include cultivating its core competitiveness, and enhance its survivability, to promote the reform of property rights, clear property rights, strengthen the awareness and adoption of the credit co-operative, lower the degree of information asymmetry.

Keywords:  Mid-and small-scale enterprise  Financing  Financial system

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