本文選題：微型企業(yè)　切入點(diǎn)：融資決策　出處：《重慶師范大學(xué)》2012年碩士論文

【摘要】：微型企業(yè)作為最具經(jīng)濟(jì)活力的經(jīng)濟(jì)個(gè)體，對(duì)世界各國(guó)的經(jīng)濟(jì)和社會(huì)發(fā)展都具有重大的貢獻(xiàn)和不可替代的作用。我國(guó)微型企業(yè)對(duì)我國(guó)的經(jīng)濟(jì)發(fā)展也做出了不可磨滅的貢獻(xiàn)，2005年，微型企業(yè)對(duì)GDP的貢獻(xiàn)率高達(dá)60％以上，為社會(huì)提供了約75％左右的就業(yè)機(jī)會(huì)，并且創(chuàng)造了近50％的財(cái)政稅收和出口收入。然而，我國(guó)微型企業(yè)的作用與其在金融環(huán)境中的地位并不成正比。據(jù)“2005年中國(guó)民營(yíng)企業(yè)經(jīng)營(yíng)者問(wèn)卷跟蹤調(diào)查”的結(jié)果顯示：有75%的企業(yè)經(jīng)營(yíng)者認(rèn)為：企業(yè)發(fā)展中遇到的主要障礙是“融資困難”，中西部地區(qū)企業(yè)經(jīng)營(yíng)者認(rèn)同這一觀點(diǎn)的比重則更是高達(dá)80%。2011年底全國(guó)工商聯(lián)對(duì)17省市中小企業(yè)的調(diào)查顯示，受訪企業(yè)中的90%以上都無(wú)法獲得銀行貸款，且這些微型企業(yè)的生存狀況普遍不容樂(lè)觀，盈利壓力仍舊相對(duì)較大。近些年，政府加大了改善中小微型企業(yè)的生存環(huán)境，，從多個(gè)渠道改善了中小微型企業(yè)的融資環(huán)境。盡管如此，微型企業(yè)由于其自身抵御風(fēng)險(xiǎn)能力較差等先天“缺陷”，致使微型企業(yè)融資成本居高不下，難以融得資本。這成為影響微型企業(yè)發(fā)展的主要瓶頸。 本文運(yùn)用最優(yōu)控制理論相關(guān)知識(shí)，構(gòu)建了微型企業(yè)融資決策模型，通過(guò)分析影響微型企業(yè)融資的相關(guān)因素，探討了微型企業(yè)融資決策過(guò)程影響的因素，為政府制定扶持微型企業(yè)發(fā)展的相關(guān)政策提供參考。為研究便利將微型企業(yè)的融資渠道歸結(jié)成為民間融資和銀行等金融機(jī)構(gòu)融資兩個(gè)渠道，針對(duì)不同融資渠道的融資成本和企業(yè)可以選取的融資決策，探討了微型企業(yè)在不同情形下的最優(yōu)融資決策。通過(guò)對(duì)重慶市微型企業(yè)發(fā)展?fàn)顩r的調(diào)查，從企業(yè)整體、行業(yè)、地域三個(gè)維度實(shí)證分析了重慶市微型企業(yè)融資決策過(guò)程中的影響因素，結(jié)果表明：重慶微型企業(yè)融資決策受融資隱性成本、金融機(jī)構(gòu)利率、民間融資利息成本和民間融資傭金費(fèi)用等因素的影響最大；同時(shí)，不同行業(yè)、不同區(qū)域下的微型企業(yè)在融資決策過(guò)程中受到上述因素的影響程度存在差異。最后，結(jié)合重慶微型企業(yè)發(fā)展需要，提出了進(jìn)一步改善融資環(huán)境和提升融資效率等對(duì)策和建議。
[Abstract]:As the most economically dynamic economic entity, microenterprises play an important and irreplaceable role in the economic and social development of all countries in the world. China's microenterprises have also made an indelible contribution to the economic development of our country. Microenterprises contribute more than 60 percent of GDP, providing about 75 percent of jobs to society, and generating nearly 50 percent of fiscal, tax and export revenues. The role of microenterprises in China is not directly proportional to their position in the financial environment. According to the results of the Survey of managers of Private Enterprises in China in 2005, 75% of the business operators think that: enterprises encountered in the development of the. The main obstacle is "financing difficulties," and the proportion of business operators in the central and western regions who agree with this view is as high as 80.At the end of 2011, the All-China Federation of Industry and Commerce conducted a survey of SMEs in 17 provinces and cities, showing that. More than 90 percent of the companies surveyed were unable to obtain bank loans, and the survival conditions of these microenterprises are generally not optimistic, and the pressure on profitability is still relatively high. In recent years, the government has stepped up efforts to improve the living environment of small and medium-sized microenterprises. The financing environment for small and medium-sized enterprises has been improved through multiple channels. However, because of their inherent "shortcomings" such as their poor ability to withstand risks, microenterprises' financing costs remain high. Capital is difficult to finance. This has become a major bottleneck affecting the development of micro-enterprises. In this paper, using the knowledge of optimal control theory, the financing decision model of microenterprises is constructed, and the factors influencing the financing process of microenterprises are discussed by analyzing the relevant factors that affect the financing of microenterprises. To provide a reference for the government to formulate relevant policies to support the development of microenterprises, and to facilitate the study of reducing the financing channels of microenterprises to two channels: private financing and financing by financial institutions such as banks. According to the financing cost of different financing channels and the financing decision that enterprises can choose, this paper discusses the optimal financing decision of microenterprises under different circumstances. This paper empirically analyzes the influencing factors in the financing decision-making process of Chongqing microenterprises from three dimensions of region. The results show that the financing decision of Chongqing microenterprises is influenced by the hidden cost of financing and the interest rate of financial institutions. The factors such as private financing interest cost and private financing commission cost have the greatest influence. At the same time, microenterprises in different industries and different regions are affected by the above factors in the process of financing decision. Finally, According to the needs of the development of Chongqing microenterprises, this paper puts forward some countermeasures and suggestions for further improving the financing environment and improving the financing efficiency.
【學(xué)位授予單位】：重慶師范大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F276.3;F832.4;F224

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