【摘要】 融资约束是近三十多年来经济学、金融学等领域的热门话题之一。中国作为发展中国家，其融资约束问题引起了政府、学术界和实业界的广泛关注。本文在对现有文献梳理的基础上，首先基于中国制度背景拓展了现有融资约束的理论框架，然后从影响因素、缓解方式和衡量指标等方面，对代表性文献进行了较为详尽的归纳和评述。在文献回顾的基础上，本文总结了现有研究存在的缺陷，并对未来研究方向进行了展望。本文认为未来研究要结合中国制度背景，重点关注融资约束指标的改善，企业非正常融资需求的约束、融资策略和创新工具的选择以及金融改革对融资约束的缓解作用，以及融资约束的治理效应。更多还原

【Abstract】 Financial constraint is one of the hot topics in economics and finance in the past 30 years.As a developing country, financial constraints have attracted extensive attention from the government, academics and practitioners in China.Based on existing literature, this paper first expands the theoretical framework of financial constraints based on Chinese institutional background, and then reviews the representative literature in detail from the aspects of determinants, mitigation methods and measurement indicators.Finally, this paper summarizes the shortcomings of existing research, and looks forward to future research directions. This paper suggests that the future research should focus on the improvement of financial constraint measurements; the mitigation effects of the constraint of firms’ abnormal financing demands, the selection of financing strategies and innovative tools, and financial reform on financial constraints; the governance effect of financial constraints.更多还原