应收账款周转率对中小企业融资约束影响的实证分析

An Empirical Analysis of the Impact of Accounts Receivable Turnover Rate on Small Businesses Financing Constraints

中小企业融资约束因深受多种因素影响而成为一个较为复杂的问题,本文将中小企业应收账款周转率同中小企业现金流量所构建的交互项引入现金-现金流敏感性模型,着重讨论企业应收账款周转率同中小企业融资约束之间的关系。研究表明,周转速度较快的应收账款对中小企业的融资约束具有缓解作用。因此,本文提出了做好应收账款分类管理和回收管理的建议。

The financing constraints of Small Businesses have become a more complicated problem because of the influence of many factors.This paper introduces the cash-cash flow sensitivity model of the small businesses accounts receivable turnover rate and the Small Businesses cash flow interaction.Focus on the relationship between corporate receivables turnover and Small Businesses financing constraints.Studies have shown that accounts receivable with faster turnover rate can alleviate the financing constraints of Small Businesses. Therefore, this paper puts forward suggestions for doing a good job in classification management and recycling management of accounts receivable.