基于新制度经济学视角下的我国中小企业融资问

基于新制度经济学视角下的我国中小企业融资问题研究

摘 要：本文运用新制度经济学的相关理论从中小企业融资的产权制度，信用制度和信贷配给机制3个方面分析我国中小企业融资，指出中小企业融资困难主要原因有：产权制度的缺陷，从中小企业本身和国有商业银行两个方面分析产权制度缺陷对中小企业融资的影响。不合理的产权制度对中小企业融资有阻碍作用，国有银行的产权制度对银行的贷款取向有影响，导致银行贷款偏向国有企业；信用制度的缺失，对引起信用制度缺失的因素进行了分析，在此基础上分析了信用制度缺失与信用危机的发生，进而分析中小企业信用制度缺失带来的融资低效率；信息不对称，事前信息不对称导致逆向选择，事后信息不对称导致道德风险，分析3者对银行贷配给机制的影响，银行信贷机制对中小企业融资的约束与短缺。
关键词：产权制度；信用制度；信贷配给；信息不对称；交易费用；中小企业融资

Small Enterprise Financing Difficulty Research at the View of New System Economics
 
Abstract:By using some theories of the new system economics, this thesis analyses the financing difficulty in our small enterprise from property right system,credit system and loan supply allotment. It pointed that the main reasons for financing difficulty in small enterprise is the defect in property right system. Including small enterprise itself and state-owed commercial bank. Unreasonable property right system can impede the financing in small enterprises. Besides, properth in state-owed commercial bank can lead money to be parcial to state-owned enterprise; A nother reason is the credit systems loss. It analyses the credit systems loss and the occurrence of credit crisis on the basis of the factors to make the credit systems loss,further analyses the low efficiency it being; the final factor for financing difficulty in small enterpriseis is the information dissymmentry. Information dissymmentry beforehand can lead to opposite direction choise, while information dissymmentry afterwords can lead to ethical risk. By analysing the three reasons, we can draw a conclusion that the essential reason of financing obstacle in small enterprise is the limitation and shortcoming of property right sy stem and credit admeasure system.