信用治理与中小企业融资问题研究

Research on Credit Governance and Financing by Small and Medium-sized Enterprises

在现代社会里,市场中普遍存在着信息不对称的情况。由于“逆向选择”和“道德风险”,我国中小企业的融资困境不可能通过对现行融资体制的有限调整而得到根本解决。本文应用博弈模型探讨了中小企业“融资难”的原因和信用的生成机理,揭示了信用治理在解决中小企业“融资难”问题中所起的重大作用,并就如何加强我国中小企业的信用治理提出了若干对策建议。

In the modern society, generally, there is a situation of information asymmetry in the market. Because of “adverse selection” and “moral hazard”,the financing predicament faced by small and medium-sized enterprises can not be solved by limited adjusting the existed financing system.We use the model of game to probe into the reason of the financing difficulties of small and medium-sized enterprises and the formulation mechanism of credit. And we also states that the credit governance plays a great role of the settling the financing problem of small and medium-sized enterprises. Finally, we point out several suggestions of credit governance by small and medium-sized enterprises.