中小企业财务结构与债务融资的实证研究

Empirical study on the financial structure and debt financing of SMEs

文章选取中小板的中小企业为研究对象,就中小企业财务结构与债务融资进行实证分析。以往研究中就中小企业融资难问题更偏向于从金融体制、信息不对称性等方面入手寻找原因。文章更偏向企业内源性的原因解释,分析企业资产结构、获利能力、短期偿还能力、运营效益对企业债务融资获得的影响,并基于实证结果给出解决中小企业债务融资难的思考与建议。

This paper selects small and medium-sized enterprises as the research object, and conducts empirical analysis on the financial structure and debt financing of SMEs. In the past research, the problem of financing difficulties for SMEs was more inclined to look for reasons from the aspects of financial system and information asymmetry. This paper is more biased towards the explanation of the reasons of enterprise endogenous, analyzes the impact of corporate asset structure, profitability, short-term repayment ability and operational benefit on corporate debt financing, and gives suggestions and suggestions for solving the financing difficulties of SMEs based on empirical results..