上市中小企业不动产抵押贷款影响因素的实证分析-empirical analysis of influencing factors of real estate mortgage loans for listed small and medium - sized enterprises.docxVIP

华中科技大学硕士学位论文 华 中 科 技 大 学 硕 士 学 位 论 文 II II Abstract Financing difficulty of small and medium-sized enterprises attracts domestic and foreign scholars on the long-term research and analysis. Bank loans is the main source of small and medium-sized enterprises’ financing in China and plays a vital role in the development of small and medium-sized enterprises. However, due to the internal and external causes, such as asymmetric information, the financing environment and system, at present, small and medium-sized enterprises of our country mostly use the real estate mortgage credit to obtain loans. The relationship of the size of the loan and the value of the collateral, enterprises factors and banks factors is a hotspot of research in and abroad. Our country is in economic shunt period, and has a special system background, the mortgage credit between small and medium-sized enterprises and bank of China, compared with foreign countries, has many common aspects, but also has differences. In this paper, we use empirical research to analyze real estate mortgage credit of the listed SMEs in China, and expect to reveal the key factors which influence the mortgage credit of SMEs in China, then provide basis for the decision making of banking industry. This paper chose Chinas listed SMEs of Small and medium enterprise board as research samples. First, we give statistic analysis on present situation of Chinas small and medium-sized enterprises’ financing and the development of mortgage credit. Then we set up multivariate regression model, and discuss the relationship of the size of loans and the relevant influence factors. In particular, we analyze the effects of the value of collateral, company factors, macro-economic factors on the size of loans. The research results show that, the collateral value from SMEs and the loan amount from banks has a significantly positive correlation; the size of the company is bigger, banks consider its default risk is small, therefore, banks are