浅议当前我国中小企业融资问题_金融研究论文_证券金融论文.docVIP

浅议当前我国中小企业融资问题_金融研究论文_证券金融论文 浅议当前我国中小企业融资问题_金融研究论文_证券金融论文 摘要：中小企业融资困难并不是现在才有的问题，也不是我国独有的问题。按现代金融理论的解释，中小企业融资的最大特点是“信息不对称”，由此带来信贷市场的“逆向选择”和“道德风险”，商业银行为降低“道德风险”，必须加大审查监督的力度，而中小企业贷款“小、急、频”的特点使商业银行的审查监督成本和潜在收益不对称，降低了它们在中小企业贷款方面的积极性。不过，在发达国家，非正式的权益资本市场、风险投资体系、二板市场的发展，很大程度上弥补了中小企业的融资资本缺口。我国中小企业融资难除了一般性原因外，还有其特殊的一面，主要是经济金融体制变迁过程中，市场经济体制的微观运行基础不完善所带来的制度摩擦。 关键词：我国中小企业；企业融资；国民经济 Abstract: Now small and medium-sized enterprise financing difficult is not the question which only then has, is also not the question which our country is in sole possession. According to the modern finance theorys explanation, the small and medium-sized enterprise financing most major characteristic is “the information is asymmetrical”, from this brings the credit market “the reversion choice” and “the moral hazard”, the Commercial bank to reduce “the moral hazard”, must increase the examination surveillances dynamics, but small and medium-sized enterprise loan “small, anxious, frequency” the characteristic caused Commercial banks examination surveillance cost and the potential income is asymmetrical, reduced them in the small and medium-sized enterprise loan aspect enthusiasm. However, in the developed country, the unofficial rights and interests capital market, the venture capital system, two board markets development, has made up the small and medium-sized enterprise financing capital gap to a great extent. Our country Small and medium-sized enterprise finances difficultly besides the general reason, but also has its special one side, is mainly in the economical monetary system vicissitude process, market economy systems microscopic movement foundation imperfect brings system friction. key word: Our country Small and medium-sized enterprise Enterprise financing National economy 　　一、充分认识中小企业在国民经济中的重要地位 　　无论发达国家还是发展中国家，中小企业都是经济发展和社会稳定的重要支柱。亚太经合组织21个国家和地区的中小企业户数占各自企业总量的97％－99.7％，就业占55％－78％，GDP比重占50％以上，出口总量占40％－60％。德国把中小企业称为国家的“重要经济支柱”，日本则认为“没有中小企业的发展就没有日本的繁荣”，美国政府更把中小企业称作是“美国经济的脊梁”。从我国情况看，目前在工商注册登