Research On Pawn Financing Of Private Enterprises Based On VAR Model By The Example Of Ji'nan

Financing difficulty is a great obstacle for enterprises to grow and even survive.Although bank loans and corporate bonds are effective ways to solve the enterprise capital chain,but these financing methods are high conditions,low efficiency is the fear of every enterprise.However,the pawn broking industry,which has sprung up rapidly since the beginning of the twentieth century,has reversed this situation to a certain extent and effectively solved the short and flat demand for corporate financing.From the unique perspective of pawn financing,by comparing the mainstream financing methods with the pawn financing methods,the paper highlights the characteristics of the simple process of pawn financing and the high efficiency of financing,and expounds the ineffective substitution effect of pawn financing in active accommodation,promotion of production and the convenience of the masses.Theoretically,we can get the positive influence of pawn financing on enterprise production.At the beginning of the article,the definition of pawn financing and private enterprises were elaborated,and the writing ideas of this paper were introduced.In the subsequent discussion of the theory used to sort out,and from the domestic and foreign literature summarized the basis for writing this paper.Then from the unique perspective of pawn financing,by comparing pawn financing with other major financing methods,the paper highlights the characteristics of simple and efficient pawn financing process,discusses the irreplaceable role of pawn financing in activating accommodation,promoting production and facilitating the masses.Theoretically,the positive impact of pawn financing on enterprise production is obtained.In this paper,the pawn financing of private enterprises in Ji'nan is studied in detail.Through the statistics of private enterprises'participation in pawn financing,combined with chart analysis and investigation analysis,the output value of private enterprises and the amount of pawn loans are taken as data analysis objects.Based on the data of more than 400 private enterprises from 2014 to 2017,this paper establishes a VAR model to analyze the driving effect of local pawn financing on private enterprises.The results show that pawn financing has played a significant role in promoting the normal development of private enterprises in Jinan and reducing the operating costs of enterprises.In addition,it further clarifies the indispensable position and role of pawn finance in the financial system through empirical research,and at the same time,it also clarifies the various functions of pawn financing for enterprises,which has important theoretical and practical significance to promote the pawn financing industry to better serve the development of private enterprises in Jinan.The conclusion of the correlation between the development of private enterprises and pawn financing is based on the comprehensive analysis of the living environment of private enterprises in Jinan,which has a strong pertinence.As the capital city of the northern province,Jinan is also an important pole for the transformation of old and new kinetic energy in Shandong Province.The development of private enterprises has a direct impact on the final effect of this round of reform.Battalion enterprises and pawn businesses are mutually beneficial and help to establish the win-win situation.