中小企业融资结构及影响因素分析——基于江苏吴江和常熟中小企业的问卷调查  

An Analysis on Small and Medium Sized Enterprises′ Financing Structure and its Influencing Factors——A Questionnaire Survey in Wujiang and Changshu of Jiangsu Province

作　　者：周月书[1] 褚保金[1] 

机构地区：[1]南京农业大学经济管理学院,江苏南京210095

出　　处：《南京农业大学学报（社会科学版）》2009年第2期54-60,共7页Journal of Nanjing Agricultural University(Social Sciences Edition)

基　　金：国家社科基金项目(08BJY090);国家社科基金项目(09BJY103)

摘　　要：运用对江苏吴江和常熟181家中小企业的实地问卷调查数据,实证分析了县域中小企业分布状况、财务状况及融资结构影响因素。调查发现,样本中小企业普遍较年轻,企业性质以私营为主,组织形式上有限责任制占主导;所有权结构简单,资本规模较小但企业间差异较大;融资结构方面,企业生产经营以自有资金为主,资产负债率低,且长期负债很少;实证结果表明,影响中小企业融资决策的主要因素是企业规模、企业年龄(经营周期)和盈利能力,而企业所属行业及固定资产占比则影响不显著。Using the questionnaire data collected from 181 SMEs in Wujiang and Changshu cities in Jiangsu Prov- ince, the paper empirically analyses the distribution, financial status and equity trading structure influencing fac- tors. The results shows that the majority of sampled SMEs in Wujiang and Changshu are characterized by private- ownership, shorter history, micro-size and larger gap in-between, limited liability in organization, simple rights structure, operation on their own fund, lower debt to asset rate and less long loan. According to the regression a- nalysis the factors of financing decision are mainly the scale, age and the ability of profit with fixed assets and the industry type of enterprises as minor factors.

关 键 词：中小企业 融资结构 影响因素 

分 类 号：F275[经济管理—企业管理]