私人权益资本缓解我国中小企业融资困境初探

Using Private Equity Capital to Relieve the Plight of China's SME Financing

中小企业作为我国改革开放后出现的新型企业群体,在我国国民经济中已占据着重要地位。但现阶段我国中小企业面临的融资环境不容乐观,融资难成为中小企业发展面临的首要瓶颈。国内学者多从改善现有的融资环境入手,鲜见有提出寻找新的融资渠道。信息不对称是造成中小企业融资困境的主要原因之一,而私人权益资本可以有效缓解由信息不对称带来的融资困境问题,能为中小企业融资提供新的融资渠道。因此,要完善我国私人权益资本市场,为中小企业发展提供良好的融资环境。

As a new enterprise group appearing after China＇ s reform and opening up, small and medium enterprises （SME） have occupied an important place in our national economy. However, SME are facing a bad financing environment at this stage, and finaneing difficulty has become the primary bottleneck of their development. Domestic scholars focus on improving the current financing environment, rarely trying to find new financing ehannels. It is found that information asymmetry is one of the main causes of the financing dilemma. Private equity capital can effectively ease the financing difficulties brought by the information asymmetry problem, and provide a new financing channel for SME. Therefore, to improve the private equity market in China is a way to provide favorable financing environment for the development of SME.