中小企业互联网融资中的信息不对称、融资约束与第三方鉴证

Asymmetric Information, Financial Constraints and the Effects of Third Party Verification and Evaluation in SMEs' Internet Financing

中小企业在保证我国经济适度增长、缓解就业压力、方便群众生活和推动技术创新等方面发挥着重要的作用,但融资难问题长期困扰着中小企业。互联网融资的发展减轻了中小企业的融资约束,但互联网融资中的信息不对称增加了中小企业的融资成本和融资额度。互联网融资实践中还没有引入第三方鉴证与评估来解决信息不对称问题,已有文献也并未对此进行探讨。本文阐述了不同的互联网融资模式中存在的信息不对称的状况和第三方鉴证与评估在减轻不同的互联网融资模式中的信息不对称的作用。最后,本文提出了在我国建立第三方鉴证与评估体系的相关建议。

SMEs pay an important role in economic growth, employment pressure,people＇s life and technological innovation and so on. But financing difficulties have long been bothering SMEs. The development of internet financing has reduced the financing constraints for SMEs, but the asymmetric information increases the SMEs ＇ financing cost and financing amount. The third party verification and evaluating has not been introduced to solve the problem of asymmetric information in internet financing, and the literature has not discussed it. This paper discusses the asymmetric information situation in different internet financing, and third party verification and evaluation ＇s effects on reducing asymmetric information. Finally, this paper proposes some related policies in establishing third party verification and evaluation system.