中小企业发展与融资体系的构建

On Small and Medium-Sized Enterprises' Development and Its Financing System

中小企业在其不同的发展阶段面临着不同的融资需求。文章以金融支持为主线,先从宏观层面上考察了企业融资结构分别对宏观经济波动和企业融资体系的影响,再从微观角度出发,试图在对中小企业各发展过程中融资行为、融资约束、融资结构等的分析中探求其“融资难”之所在。最后再依据我国的现实国情,并结合发达国家先进经验,探讨我国中小企业融资体系的构建。

There are varied capital needs in different life cycle stages of SMEs. So the key factor of this paper is the financial support. Firstly, this paper investigates the influence of financing structure in enterprises＇ financing system and macro economy. Secondly, in the hope of finding out reasons for their financing problems, the paper attempts to pursue the behaviors, restraints and structure of financing in SMEs＇ life cycle stages. Finally, by combining with our current national conditions and the successful experiences of the developed countries, we probe into the building of SMEs＇ financing system.