中小企业商业贷款的影响因素及其溢出效应——以商业银行多渠道贷款组合为视角

中小企业在我国经济发展中起着不可替代的作用,为中小企业解除融资困境是未来国民经济健康稳定发展的重要保障。要找到中小企业融资难的解决办法,必须了解影响中小企业商业贷款的主要因素。本文在对商业银行多渠道放贷进行分析的基础上,推导出跨期操作后各渠道新增贷款的数学表达式,通过逐步放开贷款存量的流动性限制,得到规模以下新增贷款流向的组合模型。发现数据存在明显的空间溢出效应,并测算出包含空间滞后效应在内的中小企业新增商业贷款的影响因素系数。本文针对性地提出了监管部门合理搭配、正确引导新增贷款流向;商业银行因地制宜、对症下药处理贷款存量;政府机关通盘考虑、综合治理融资难困局的政策建议。

Small and medium-sized enterprises(SMEs)play an irreplaceable role in China's economic development.How to solve the financing difficulties for SMEs is a major issue to be faced for a long time in the future.In order to find a solution to the financing difficulties of SMEs,we must understand the main factors that affect the commercial loans of SMEs.Based on the analysis of multi-channel lending of commercial banks,this paper deduces the mathematical expression of new loans from each channel after inter-temporal operation,and obtains the portfolio model of new loan flows below the scale by gradually liberalizing the liquidity limit of loan stock.It is found that there is obvious spatial spillover effect in the data,and the influencing factor coefficients of new commercial loans for small and medium-sized enterprises,including spatial lag effect,are calculated.The paper proposes that the regulatory departments should reasonably collocate and correctly guide the flow of new loans;the commercial banks should adapt to local conditions and deal with the loan stock according to the situation;the government agencies should consider the overall situation and comprehensively manage the difficult situation of financing.