摘要
企业融资约束问题的解决有赖于金融创新。在对融资约束与信息不对称、供应链金融与信息不对称、供应链金融与融资约束关系进行理论分析的基础上,运用深市中小板科技型企业样本数据对供应链金融缓解融资约束的效应进行了检验。结果表明:科技型中小企业融资约束程度与信息不对称程度正相关;供应链金融能够有效缓解融资约束,并且其缓解效应作用强度与信息不对称程度正相关。该结论可为改进科技型中小企业的融资决策提供经验依据。
The solution of enterprises financing constraints depends on financial innovation.With the theoretical analysis on relationship of financing constraints and asymmetric information,supply chain finance and information asymmetry,supply chain finance and financing constraints,tests effects underlying supply chain finance easing financing constraints was carried out.The results shows that technology oriented small and medium-sized enterprises（SMEs）faced more severe financing constraints,and were positive correlation to information asymmetry;supply chain finance could effectively ease financing constraints,and the mitigation effect was positive correlation to information asymmetry.The conclusions could provide empirical basis for improving the financing decision of Hi-Tec SMEs.
出处
《科技进步与对策》
CSSCI
北大核心
2017年第4期105-110,共6页
Science & Technology Progress and Policy
基金
国家自然科学基金项目(71502001)
安徽省哲学与社会科学规划项目(AHSKY2015D84)
安徽省博士后科研基金项目(2015B079)
安徽大学"校学术与技术带头人引进工程"(02303203)
关键词
供应链金融
融资约束
信息不对称
科技型中小企业
Supply Chain Finance
Financing Constraints
Information Asymmetry
Hi-Tec SMEs
