融资能力、盈利性、政府服务与小微企业活力研究

Financing Capacity,Profitability,Government Services and the Small and Micro Businesses' Vitality

本文利用结构方程模型中验证性因素分析的方法研究企业活力问题,构建了三层级的小微企业活力评价体系。通过问卷调查数据的实证分析发现,组织协调、资金状况、盈利性和行业竞争力构成了小微企业活力的四个维度。利用这个体系计算出目前小微企业活力水平并不弱。通过对政府服务、盈利性和资金融通三者关系路径的实证研究发现,小微企业融资困难的显著原因在于企业自身盈利性不佳的现实,而政府服务水平又显著地正向影响盈利性和资金融通状况。本文的研究结论说明了政府服务对小微企业盈利性和融资的重要性,因而政府应该加强对小微企业的服务,通过简政放权和商事改革,最大程度释放市场活力,促进小微企业发展。

This paper investigates small and micro businesses＇ vitality using factor analysis in structural equation models and constructs a three-hierarchy theoretical system for small and micro enterprise＇s vitality. Based on the surveyed data, it showed that small and micro enterprise＇s vitality consists of four dimensions： organization and coordination, capital position, profitability and industrial competitiveness. Then we calculated small and micro enterprise＇s vitality using this system, and found that small and micro enterprise was strong. Path analysis confirmed that profitability had a positive and significant influence on accommodation of funds, and government service had a significant influence on profitability and financing capacity.