The Research On Influence Factors Of Small And Medium Agro-enterprises Credit Availability

SMEs made a great contribution to China’s economic development, Small and medium agro-enterprises as an important part of the SMEs, adequate financial support is the necessary guarantee of the survival and development is also small and medium-sized agricultural enterprise technical reform and innovation, as agricultural leading enterprises, upgrading the agricultural industry and farmers’ income to get rich is a necessary condition. However, due to the small and medium-sized agriculture-related business "weak", leading financial institutions in the supply of credit to small and medium-sized agro-enterprise is far below its demand for credit. How to improve credit availability of small and medium agro-enterprises, to solve SME credit loan financing difficult problem is the urgent need to study and solve problem. This paper to study the availability of credit to small and medium-sized agro-enterprises has important theoretical significance and practical significance.This paper reviews existing literature, based on the definition of small and medium-sized agribusiness and the corporate financial growth cycle theory, the theory of asymmetric information theory, relationship lending, to small and medium agro-enterprises in Sichuan province as the research object, through to the Sichuan province122small agro-enterprises field interviews, survey, obtain first-hand information, argues relations theory, assumes that the enterprise characteristics, the enterprise financial information, corporate information transparency, market and management characteristics of small and medium-sized agro-enterprises have the availability of credit. And this paper uses the survey data, descriptive statistical analysis of the basic situation of small and medium-sized agricultural enterprise analysis showed that the low education level of the employees of small and medium agro-enterprises, different sizes, different operation types of small and medium-sized agro-enterprises are facing the risk of different credit rating there are also differences, although the company by the financial support of funds is increasing every year, but there is still insufficient by the efforts of policy support.This paper uses the comparison analytic method to analyze the credit financing of small and medium-sized agricultural enterprises. The study shows that small and medium-sized agro-enterprises universal exist financing gap, although with the expansion of enterprises, to expand the financing channel, but still give priority to with bank credit. The credit financing, the main consideration is refinancing costs, followed by lines and convenient degree, enterprise dominated by mortgage loans. And because the financing channels of small and medium-sized agricultural enterprise is relatively single, have to bear higher than bank benchmark interest rate of loan interest rates. And by the binary logistic model for small and medium-sized agricultural enterprise credit availability factor into the empirical analysis, draw the following conclusions:(1)On the enterprise characteristics, the enterprise scale, enterprise type closely with small and medium agricultural enterprises credit available sex, have significant positive effects, enterprises are faced with the risk and the availability of credit of small and medium-sized agricultural enterprise negative correlation, the significance level was2%, the impact is very big.(2) On the financial information, liquidity ratio, fixed assets ratio, the net interest rate of the assets and credit availability to small and medium agricultural enterprises have a significant positive impact, and fixed assets level of significance at the5%confidence level.(3) On the enterprise information transparency, the enterprise credit rating, and the bank relations of close degree and the availability of credit of small and medium-sized agricultural enterprises are related, the effect is significant at the1%confidence level.(4)On the enterprise management features, business owners in the industry time and small and medium agro-enterprises positive correlation between the availability of credit, and more significant influenceIn view of the empirical analysis conclusion, this paper tries to put forward the following Suggestions:(1) improve the enterprise management system,(2) Extension of small and medium-sized agribusiness industry chain, and take the road of agricultural integration.(3)Sound financial system, improve the enterprise’s financial and operating conditions.(4) to strengthen the cost management of enterprises, increase sales, improve enterprise’s profit ability,(5) as far as possible to reduce or avoid enterprise risk,(6) improve the transparency of information.