商业信用对中小企业融资约束的缓解作用——基于江苏高淳、溧水两县的调查  

The Role of Trade Credit Easing Financing Constraints for SMEs in Post-crisis Era ——According to the Investigation Data Gained from Gaochun and Lishui

作　　者：吴婷婷[1] 

机构地区：[1]南通大学商学院,江苏南通226019

出　　处：《南通大学学报（社会科学版）》2014年第2期22-28,共7页Journal of Nantong University:Social Sciences Edition

基　　金：国家自然科学基金青年项目(71103089);南通大学人文社科博士科研启动基金;引进人才项目(03080574);南通大学人文社会科学研究项目(13040276)

摘　　要：后金融危机时代,中小企业普遍面临资金较为紧张的局面。通过对江苏高淳、溧水两县中小企业实地调查,采用基于诱导式询问信息的直接衡量方法,对中小企业信贷配给情况进行测量。在此基础上,验证商业信用对中小企业融资约束的缓解作用,可得出如下结论:37.37%的中小企业受银行等正规金融机构信贷配给;商业信用是一种重要的融资方式,在中小企业无法获得正规金融机构贷款时,获得商业信用能有效缓解融资约束;以往的研究低估了商业信用对融资约束的缓解程度。继而,对如何更好利用商业信用使之为中小企业服务,得出如下启示:一是地方政府适度举办融资辅导会;二是加强产业集群建设;三是推动商业信用和银行信用之间的转换机制。In post-crisis era, SMEs generally face more tense financial situation. Through the survey of nearly 200 enterprises in Gaochun and Lishui, this paper measures the degree of credit rationing by the method named Direct Elici-tation Methodology （DEM）. On this basis, we want to verify the role of trade credit to ease financing constraints for SMEs. We have reached the conclusions as follows： 37.37% of SMEs gain credit rationing by formal financial institutions; trade credit is one kind of important financing method, access to trade credit can effectively alleviate financing constraints when SMEs can not have access to formal financial institutions; Previous studies underestimate the degree of relieving financing constraints. We draw the following policy implications. Firstly, local government holds Financing Advisory Council. Second-ly, strengthen the construction of industrial clusters. Thirdly, promote the conversion mechanism between trade credit and bank credit.

关 键 词：商业信用 融资约束 信贷配给 

分 类 号：F279.243[经济管理—企业管理] F832.4[经济管理—国民经济]