互联网金融助解“长尾”小微企业融资难问题研究

A Study on Internet Finance Helping Relieve SMEs Financing Constraints

本文基于安德森提出的"长尾"理论,对互联网金融解决小微企业融资的可行性进行了分析。小微企业是金融需求的"长尾",互联网技术可以促进"长尾"小微企业的需求甄别,而对于小微企业融资需求市场来说,互联网金融具有外部经济、规模经济和范围经济三重效应。在传统金融市场中,存在"超常态"的信贷配给,小微企业往往被排斥在正规金融体系之外,金融供给曲线呈现"臂弯"状态,互联网金融的加入,从一定程度上改变了"臂弯"曲线的位置,弥补了适量的供给缺口,减轻了信贷配给程度,促进了金融资源的合理配置,这也为解决小微企业融资困境提供了新的视角。基于此,本文还提出了下一步互联网金融发展过程中应关注的问题及相关建议。

In this paper we investigate the impact of internet based finance on SMEs financing based on the Anderson＂long tail＂ theory . In our research, we found that, firstly the financial needs of SMEs are the ＂long tail＂. Secondly the internet technology can better satisfy the ＂long tail＂ need of SMEs. Moreover, internet based finance has economies of scale, economies of scope and external economy at the same time. In traditional financing, as credit rationing is often twisted, the supply curve of financing become ann shape. Within the internet based finance, the arm shape curve can be improved, especially for SMEs and financial resources allocation are more rational. Finally, to promote the health growth of internet based finance, some suggested policies are given in this paper.