Research on the Factors of Credit Constraints for SMEs Based on Internal Perspective
|School||Zhejiang University of Technology|
|Keywords||SMEs Credit Constraints Financial position Mortgage-backed capacity|
SMEs have become an important part of the national economy , enhance market efficiency , enhance economic growth , promote technological innovation , create jobs and promote international trade plays an irreplaceable role in their survival and development by the government and the community widespread concern. At present, the shortage of funds as the key issues constraining the development of SMEs in China . In stark contrast with the vigorous development of the SME : SME financing channel is narrow , and the main indirect financing by means of external financing in the bank . Because of its own assets less opaque financial information , weak ability of mortgage-backed the SME bank credit financing channels are not smooth , often subject to credit constraints . In this study, based on an internal perspective , to study the cause factors of SME credit constraints , and to explore the path and the impact of these factors on the impact of credit constraints , and then according to the research findings to identify countermeasures to ease credit constraints for SMEs , enabling SMEs credit The financing Dilemma improved , improve SME financing capacity , promote the development of small and medium-sized enterprises . In this study, Hangzhou SMEs , for example , through analysis and discussion , the following conclusions : (1) the impact of the credit constraint factors : scale enterprises , qualification of operators , business growth , financial condition , business risk and mortgage-backed ability ; (2) the impact path : mortgage-backed ability to directly affect the credit constraint , five other factors in addition to the direct impact of credit constraints by raising or lowering the ability of mortgage-backed role of credit constraints ; ( 3) The degree of influence : for SMEs credit constraints affect the largest financial condition , followed by firm size and operators qualification again mortgage guarantee capacity , minimal impact on the growth and operational risks . Understanding of the causes of the SME credit constraints is important to solve the difficult problem of SME loans . According to the conclusions of the study from the proposed countermeasures and suggestions to ease credit constraints for SMEs to enhance SMEs' own level and optimize the external environment .