民营企业融资的社会资本约束

The Financing Limitations to Social Capital for Private Enterprises

文中从社会资本角度,对我国民营企业的融资困境进行分析,认为由于民营企业的家族治理特征,银行等正规金融机构不会根据标准的信贷政策对其进行资金支持,而通过关系型融资,由于社会资本的约束,银行也并不倾向民营企业,加之民营企业的特殊信任模式所造成的壁垒,使其融资面临更多约束。

In the perspective of social capital, the paper analyzes the financing difficulties facing China＇s private enterprises. Due to the family-control model of such enterprises, the established financial institutions like banks will not provide loans according to the standard credit policies. The cooperative financing channels for social capital are also limited due to the special credit model of the private enterprises.