The Role Of Non-state-owned Banks In The SME Financing Analysis

Financing difficulties of SMEs has become a major bottleneck restricting the development of China, the core problem is the information asymmetry. Relationship lending between banks and enterprises based on the theory that business and other "soft" relationship lending technical information, can effectively solve the problem of information asymmetry between banks and enterprises, information opaque for small enterprises, based on easy to code, easy to quantify, can "hard" transactional lending technical information transfer, and more suitable for large enterprise information transparency (Berger, KlaPPer, Udell,2001). Traditional "small bank advantage" theory that the big banks have advantages in payment transactions on lending, small banks have an advantage (Berger et al,2001; Zhang Jie,2002) issued on relationship lending, policy implications thus obtained is Financial institutions must contain a considerable number of small banks to meet the financing needs of small business information opaque. But BU (2006) will be divided into a variety of transaction-based lending technology inhomogeneous lending technology that in addition to the financial statements based lending technology is only suitable for transparent corporate information, other transaction-based lending technology are suitable for opaque businesses. And BU (2011) confirmed that the big banks do not have the advantage in every transaction lending technology, small banks advantages in relationship lending large enterprises in the most obvious, there is a big difference with the traditional "small bank advantage" theory. Hence the need for reasonable lending technology to identify, and by the size of the loan with the bank’s technology and its interaction term effects on credit availability, and tested in SME loans, whether relationship lending is the most appropriate lending technology, as well as small banks whether relationship lending technology, whether large banks lending transaction technology, to improve our financial system is very important in order to achieve the big banks and small banks harmony in the SME credit market, and play to their technical superiority loans to solve the difficult problem of SME financing.In this paper, domestic 2006-Bank loan data in 2014 listed a sample of SMEs to credit availability as a dependent variable, construct an unbalanced panel binary logit model, variable definitions based lending technology and technology-specific sample identification loans, construction loans technology Virtual explanatory variables, the relationship lending technology and transaction-based lending technology compared study whether it is more beneficial relationship lending small businesses to obtain loans, thereby determining whether the relationship lending loans most suitable for SMEs, technology and construction lending bank size The interaction term virtual explanatory variables studied whether relationship lending is more conducive to small businesses to obtain loans from small banks, transactional lending whether it is more beneficial to small businesses to obtain loans from big banks, thereby discriminating in lending to SMEs, the small banks if there is a relationship-based lending technical advantages, the existence of large banks lending transaction technology.The results show that, compared article identifies transactional lending technology, relationship lending is more conducive to small businesses to obtain loans, relationship lending for the best loan, but the big banks and small banks in the relationship lending also has the advantage. Implications This study is to solve the problem of financing of SMEs, the need to create a favorable environment credit system, standardize operations and lending practices of SMEs, the development of benign relationship lending technology, and small and medium financial institutions relax entry restrictions capital markets, allow more private small and medium financial institutions and private financial markets have been developed, but in the current of small and medium financial institutions can not meet the financing needs of SMEs should be encouraged through equity restructuring of large banks mitigate information asymmetry between banks and enterprises, and use it the transfer of control of the capital markets function and option incentive mechanism to reduce the agency problem, effective for the small business grant relationship lending to partially compensate for the lack of development of small and medium-bank market, in order to better solve the financing problems of SMEs.The main contribution of this paper is:(1) This relationship lending technology to rigorous identification, the use of relationship lending between banks and closely related technical representatives to use, and is closely related to the degree of recognition not only use certain relationship between banks to measure, but from the can reflecting the multi-dimensional variable degrees of bank and close to get a comprehensive clustering variable to reflect the close relationship of the bank and, closely related to the degree of the bank and the specific means of identification, the paper in two steps, first of all based on the data characteristics of this article, recognizes relationship lending technology is limited to a sample of credit and guarantee loans constituted, then, through the relationship between banks and credit availability variables affect SMEs analysis, looking for ways to reflect the degree of inter-bank and close to the key relationship between variables, and key relationships among variables using K-means clustering method, all the samples in the relationship between banks and clustering into strong ties and weak ties, close ties between banks and strong relations representative, relationship lending technical representatives use weak the relationship between banks and representatives not closely related, credit score lending technical or financial statements on behalf of lending technology used.(2) In this paper, to fill the lack of empirical research on domestic advantages of small banks, in strict lending technology to identify, using China’s listed SME lending empirical data to investigate the SME loans, compared to herein identified transactional lending technology, whether relationship lending is the most appropriate lending technology, as well as small banks whether relationship lending technology, whether large banks have transaction-based lending technology, based on the empirical results obtained under the relevant conclusions of our country.