我国中小企业融资方式及融资效率研究.pdfVIP

摘 要 中小企业在国民经济的发展过程中，起到了非常重要的作用。但是在其成长 过程中也面临着诸多困难，特别是2008 年美国次贷危机引发全球经济衰退，导 致一些外向型中小企业的生存经营和发展遭受到严峻打击。因此，如何帮助中小 企业解决经济困难，使中小企业健康成长，特别是如何有效的解决其融资困境， 扫除融资障碍，提高融资效率，是全社会面临的一项重大课题和紧迫任务。 资金对任何一个企业的生存和发展至关重要，它是一个企业生存的血液和持 续发展的推动力，其融资过程贯穿在整个企业的运行和发展中。融资过程不仅包 括资金的融入还有资金的利用，而且还包括企业治理结构对融资效率的影响，衡 量是否能以最低的成本和风险将资金融入企业并为之带来最大的收益。 本文分别介绍了我国中小企业融资方式、融资渠道和融资现状，进一步从商 业银行、中小企业自身方面及政府方面分析了我国中小企业融资困难的原因。本 文的重点部分是对中小企业融资效率的综合评价结论；进而以国内中小企业板上 市公司为研究样本，得出其融资效率的实证分析结果；最后以此结果对我国完善 多层次资本市场。拓宽企业融资渠道提出一些建议。 关键词：中小企业； 融资方式； 融资效率 I Abstracts SMEs played a very important role in the development of national economy. But in its growth process is also faced with many difficulties, especially in 2008, the U.S. sub prime mortgage crisis triggered a global recession, led to some export-oriented small and medium enterprises survive the operation and development suffered severe blow. Therefore, how to help solve the financial difficulties of SMEs, make them to healthy growth, especially in how to effectively solve the financing dilemma, remove financing barriers and improve financing efficiency is a society facing a great challenge and urgent task. Funding is important for any business survival and development, it is a kernel driver for the enterprise, and the financing process throughout the entire enterprise operation and development. Financing process includes not only the integration of capital, and capital utilization, but also corporate governance structure on the financing of efficiency, to measure whether the lowest cost and risk capital into the business, and work to bring the greatest benefits. This paper describes the financing way of SMEs, financing channels and the situation