| SMEs have become an important force in China's economic development, in the ease employment pressure, the creation of social wealth, develop various aspects of the national economy played a role can not be ignored. However, due to a number of reasons, there is a serious development of SMEs by the financial bottled neck constraints affecting SME financing difficulties have become an important factor constraining the development of SMEs. The purpose of this research is to the credit of SME credit market in the plight of a thematic study of the status quo in the financing of SMEs based on the analysis, described the plight of the credit financing of SMEs and to propose specific policy recommendations. In order to achieve both the perfect integration of economics and sociology, but also for China to ease or even solve the financing difficulties of SMEs to provide theoretical support and practical basis. China's relevant laws and regulations coupled with the imperfect, lack of credibility as well as the unique geo-cultural accumulation of blood, making the plight of SME financing in China were even more complexity and particularity, research and resolve this problem has a more important practical significance.In this paper, the relevant theories and methods of economics, drawing on information economics, business theory, industrial organization theory, and finance-related fields of theoretical results, while the use of models, measurement and empirical analysis of specific case studies and other methods, the credit market for SMEs the plight of the issue in-depth credit analysis.Based on the textual context is divided into five parts. The main study says:In the many small and medium enterprises financing in China, the foreign financing is to expand the scale of enterprise development and the only way for outside sources of financing, through equity and debt financing is a smaller number of large enterprises, to a large number of SMEs, with similar size and financial symbiosis of small and medium commercial banks is its main source of financing for foreign suppliers. For SMEs, most of them are there gaps in financing needs and I hope to get more from the bank's long-term funds, the urgent need for banks to provide innovative financial products to adapt to their development.From the principal-agent theory point of view, the bank due to the commissioning party can not be accurately beforehand and oversight agency side-the real information for SMEs in the contractual relationship before the birth of small and medium enterprises with private information, banks do not know the agent's the type of adverse selection problems have emerged. Once signed the contract, the client or the bank can not fully grasp the agent could not confirm the latter part of action or information, or at least the principal can not completely control the agent's actions, and this time gave rise to moral hazard. As a delegate party banks, the scale of preference for commercial banks, and credit flows during the polarization, the absence of breaking their promise to the agent and loan officer incentive disciplinary mechanisms punishment mechanism, medium and small commercial banks do not have to provide financial support to SMEs conditions that allow banks to the funding needs of SMEs, the "credit crunch" and "prudent loan" phenomenon; as an agent of the SMEs, there is poor qualification, management transparency is low, credit in poor condition, lack of effective collateral, etc. The kind of financing difficulties of SMEs and thus is essentially a kind of credit difficulties, namely, between the principal and agent information asymmetry. This reference information economics model, analysis of adverse selection in credit markets and interest rate on the screening mechanism, drawn as a commissioning party bank, in order to achieve the maximization of their own interests, preferring to select the appropriate interest rate as part of business loan applications rejected, rather than the high interest rates to meet all enterprise applications. It analyzes the risk of moral hazard and interest rate incentives to come to the excessive demand for loans faced by banks, will finance the implementation of credit rationing, in order to reduce the risk of moral hazard arising from loss of profits.According to the above analysis results, this paper proposes the establishment and development of community banks to ease or even solve the plight of small and medium enterprises an effective way of credit. First of all, the authors survey was conducted in Shaoxing City,250 loans to small and medium enterprises, of which 230 valid questionnaires for the data obtained by constructing a simple econometric model to analyze the relationship between banks and enterprises and enterprise obtained the basic characteristics of SMEs are the impact of credit constraints are more significant, mainly for the corporate financial targets and loan conditions of the hard constraints, so the relationship between banks and enterprises to establish a good credit availability to SMEs is very important. The establishment and development of community banks is rooted in the local community, the use of blood geographical advantages, making the principal agents of banks and SMEs to create a good exchange of information between the mechanism of a financial institutional arrangements. Second, drawing on domestic and foreign scholars, the definition of community banks, this paper defines community banks:Community Bank is a clear property rights, assets a smaller scale, in certain autonomous regions, mainly small and medium enterprises within the region and family services to residents The commercial banks or credit unions. To the community banks can alleviate the plight of SMEs, micro-credit financing mechanism has been studied because of their small and medium enterprises can not provide full collateral and force it to use a certain share of the credit, due to the community blood bank's geographic advantages, virtually to promote small and medium enterprises self-conscious implementation of good supervision with a view to establish a good reputation for credit protection. Furthermore, the establishment and development of community banks in its unique advantages, mainly for the information advantage, geographical and cultural advantages, strengths and avoid risks to achieve the optimal allocation of financial resources; the same time, community banks have also some disadvantages of analysis. Finally, the study of the Union Bank of Hangzhou and Zhejiang Tyrone success stories of commercial banks, on the one hand the establishment and development in our country for the survival of community banks of soil, on the other hand the analysis is more realistic, so that combination of theory and reality.SME credit markets to ease the plight of the credit, mainly from banks, SMEs, government three aspects:First, the establishment and development of community banks, mainly by the choice of development models, accurate market positioning, as well as better risk management; Second, we must to improve the level of credit for SMEs, mainly SME managers and supervisors to improve awareness and increase credit loans for SMEs to obtain level; three are standing on the perspective of the relevant government departments, has proposed the establishment of relevant laws and regulations, improve SME levy Letter system and the credit guarantee system, strengthen credit building the legal system. |
