我国中小企业融资现状及成因分析

The Situation of the Small and Medium-sized Enterprises Financing and the Analysis of Its Causes

在分析我国中小企业在上市前后资本结构基本情况的基础上,认为由于我国中小企业在股权融资渠道上存在着制度性限制,其对股权性融资的需求并没有在实际中得到满足。当前股票市场针对中小企业的再融资功能没有充分发挥出应有的效率。

By analyzing small and medium-sized enterprises（SMEs） ＇s basic problem of financing,the paper shows some systemized limitations existing in equity financing of SMEs so that the demands for equity financing don ＇t take effects in practice.Furthermore,the functions of refinancing in stock market aiming at SMEs don ＇t exert its fully efficiencies.