【摘要】：現(xiàn)有文獻(xiàn)就企業(yè)規(guī)模對(duì)企業(yè)商業(yè)信用供給有不同的研究結(jié)論,說(shuō)明這一方面的研究還有待完善。本文結(jié)合數(shù)理模型和實(shí)證研究,分析不同企業(yè)規(guī)模下,融資路徑不同對(duì)企業(yè)商業(yè)信用供給的影響。研究發(fā)現(xiàn),我國(guó)中小企業(yè)在發(fā)展未達(dá)到一定規(guī)模之前,受市場(chǎng)競(jìng)爭(zhēng)劣勢(shì)影響,需要提供大量商業(yè)信用來(lái)維持市場(chǎng)生存和發(fā)展,而此時(shí)由于我國(guó)金融系統(tǒng)對(duì)中小企業(yè)的信貸歧視,獲得銀行信貸支持比較少,因此需要大量的商業(yè)信用融資來(lái)支持商業(yè)信用提供。隨著商業(yè)信用融資的增加,融資成本提高,最終導(dǎo)致商業(yè)信用提供力度逐步下降。當(dāng)企業(yè)發(fā)展超出一定規(guī)模后,銀行信貸支持逐步增強(qiáng),企業(yè)可以用銀行信用替代成本更高的商業(yè)信用融資,導(dǎo)致商業(yè)信用融資逐步下降,同時(shí)也使得企業(yè)提供商業(yè)信用的能力上升。文章研究結(jié)論表明,商業(yè)信用提供與企業(yè)規(guī)模之間的關(guān)系不是簡(jiǎn)單的線性關(guān)系,而是一個(gè)二次函數(shù)關(guān)系。
[Abstract]:The existing literature has different research conclusions on the supply of the enterprise's commercial credit with respect to the size of the enterprise, and the research on this aspect is still to be improved. Based on the mathematical model and the empirical study, this paper analyzes the influence of different financing paths on the supply of commercial credit in different enterprises. The research shows that, before the development of the small and medium-sized enterprises in China has not reached a certain scale, it is necessary to provide a large amount of commercial credit to maintain the survival and development of the market. At this time, due to the credit discrimination of the financial system of our country to the small and medium-sized enterprises, the credit support of the bank is less. There is therefore a need for a large amount of commercial credit financing to support commercial credit provision. With the increase of commercial credit financing, the financing cost is increased, resulting in a gradual decline in the supply of commercial credit. When the development of the enterprise exceeds a certain scale, the bank credit support is gradually enhanced, and the enterprise can use the bank credit to replace the commercial credit financing with higher cost, resulting in the gradual decline of the commercial credit financing and the increase of the ability of the enterprise to provide the commercial credit. The conclusion of the article shows that the relationship between the commercial credit and the size of the enterprise is not a simple linear relationship, but a quadratic function.
【作者單位】： 安徽工業(yè)大學(xué)管理學(xué)院;
【基金】：國(guó)家哲學(xué)和社會(huì)科學(xué)基金資助項(xiàng)目“內(nèi)部資本市場(chǎng)對(duì)企業(yè)集團(tuán)成長(zhǎng)的作用機(jī)制研究”(11BGL022) 安徽省哲學(xué)社會(huì)科學(xué)規(guī)劃項(xiàng)目“基于承接產(chǎn)業(yè)轉(zhuǎn)移的安徽資本市場(chǎng)建設(shè)研究”(AHSK09-10D49)
【分類號(hào)】：F276.3;F832.3;F224

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本文編號(hào)：2501147