本文選題：中小企業(yè)　切入點：企業(yè)社會資本　出處：《湖南大學(xué)》2015年碩士論文

【摘要】：改革開放30多年以來,我國中小企業(yè)獲得飛速發(fā)展,是我國經(jīng)濟持續(xù)高速發(fā)展的中堅力量。盡管中小企業(yè)在國內(nèi)經(jīng)濟占有舉足輕重的地位,但在金融資源等要素配置方面仍處于弱勢地位,融資難是中小企業(yè)普遍面臨的困境。雖然國內(nèi)外對影響企業(yè)融資約束因素的研究多集中于企業(yè)自身因素,但從國內(nèi)外最新研究動態(tài)可以看出緩解企業(yè)融資約束的條件與要素越來越多地涉及到了企業(yè)與社會各界間的各種關(guān)系。但研究視角多分散在政治聯(lián)系、銀企關(guān)系等單一社會網(wǎng)絡(luò),對于概括性較強的社會資本概念,僅停留在定義和一般分析上,很少探討社會資本與融資約束之間的聯(lián)系�；诖�,本文全面考察企業(yè)社會資本與中小企業(yè)融資約束之間的關(guān)系,重點探討了企業(yè)社會資本影響融資約束的微觀作用機制。本文對社會資本影響中小企業(yè)融資約束的機理進行分析,在此基礎(chǔ)上進行實證分析。首先設(shè)計社會資本指標體系,并采用主成分分析法提取社會資本指數(shù)。其次構(gòu)建融資約束識別模型以檢驗社會資本對中小企業(yè)融資約束的影響,并對比不同金融發(fā)展程度地區(qū)下的影響差異。最后從信息不對稱的角度展開研究社會資本緩解企業(yè)融資約束的微觀作用機制:構(gòu)造反映資金供求雙方信息不對稱程度的指標并對企業(yè)社會資本與信息不對稱之間的關(guān)系加以直接檢驗;在原有融資約束模型基礎(chǔ)上加入信息不對稱相關(guān)變量,分離社會資本的信息效應(yīng)和資源效應(yīng),以檢驗兩者是否都能緩解融資約束以及相對影響比重。本文的主要研究結(jié)論如下:企業(yè)社會資本能有效緩解其融資約束,在金融發(fā)展程度較低地區(qū)緩解效應(yīng)更明顯。企業(yè)社會資本通過信息效應(yīng)和資源效應(yīng)影響融資約束,且資源效應(yīng)所起的作用更大。
[Abstract]:Since the reform and opening up more than 30 years ago, small and medium-sized enterprises in our country have achieved rapid development, which is the backbone of the sustained and rapid economic development of our country, although small and medium-sized enterprises play a pivotal role in the domestic economy. However, the allocation of financial resources and other factors is still in a weak position, and financing difficulties are common difficulties faced by small and medium-sized enterprises. Although domestic and foreign studies on factors affecting corporate financing constraints are mostly focused on the enterprise itself, However, from the latest research at home and abroad, we can see that the conditions and elements to ease the financing constraints of enterprises are more and more involved in various relationships between enterprises and all walks of life. A single social network, such as the relationship between banks and enterprises, only focuses on the definition and general analysis of the concept of social capital, and rarely explores the relationship between social capital and financing constraints. This paper investigates the relationship between corporate social capital and financing constraints of SMEs, and focuses on the microcosmic mechanism of the influence of corporate social capital on financing constraints. This paper analyzes the mechanism of the influence of social capital on the financing constraints of small and medium-sized enterprises. On the basis of this, the paper designs the index system of social capital, and extracts the index of social capital by principal component analysis. Secondly, it constructs the identification model of financing constraints to test the influence of social capital on financing constraints of small and medium-sized enterprises. Finally, from the point of view of information asymmetry, this paper studies the micro mechanism of social capital to alleviate the financing constraints of enterprises: construct the information asymmetry reflecting the two sides of capital supply and demand. A direct test of the relationship between corporate social capital and information asymmetry; Based on the original financing constraint model, information asymmetry variables are added to separate the information effect and resource effect of social capital. The main conclusions of this paper are as follows: corporate social capital can effectively alleviate its financing constraints. The mitigation effect is more obvious in the areas with lower degree of financial development. Corporate social capital influences financing constraints through information effect and resource effect, and the resource effect plays a more important role.
【學(xué)位授予單位】：湖南大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2015
【分類號】：F275;F832.4

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