【作者】 尹庆伟；

【导师】 鲍静海；

【作者基本信息】 河北大学 ， 金融学， 2007， 硕士

【摘要】 自从改革开放以来,我国的中小企业获得了长足的发展,在国家的经济发展中扮演的角色越来越重要,特别是在当前就业形势严峻的情况下,中小企业的发展成为解决这一问题的最重要途径。在中小企业的发展历程中,融资问题一直没有很好地解决,并且伴随着中小企业的在国家经济生活重要性的提高,中小企业的融资问题越来越突出,本文旨在探索研究缓解中小企业融资困境之道。在目前我国中小企业的融资渠道中,银行的间接融资在融资总量和融资比例中均占有主导地位,而资本市场的直接融资从总量和相对量上均明显偏低,原因在于受制于我国现有的资本市场条件,对此通过研究如何通过资本市场建设来促进中小企业的直接融资,从而拓宽中小企业的融资渠道,这对于缓解中小企业的融资困境将具有十分重要的意义。本文首先从解决研究的对象问题出发,找出对中小企业整体有代表性的企业,并进而深入分析了各类中小企业融资的需求特点和融资面临的实际困难,以此探究与其融资需求特点相适应的对策。文章的第二部分从中小企业融资特点和资本市场自身特点出发,印证中小企业通过资本市场解决融资问题的正确性和可行性。第三部分进行了中外比较与借鉴,对国外成熟市场国家和地区通过资本市场解决中小企业融资的经验进行了介绍。在介绍中,对美国通过资本市场解决中小企业融资问题的方法进行了重点介绍,对美国多层次资本市场的定位、交易机制、监管机制等进行分析,同时结合我国的实际情况,进行总结,分析出不足和差距,借鉴其成功经验。第四部分根据上文的分析总结,提出我国中小企业资本市场融资的解决之策,分别从解决融资环境、搭建功能定位明确多样化市场平台、落实配套机制出发进行着眼,系统的解决中小企业的融资问题。更多还原

【Abstract】 Since the beginning of reform and opening up, the rapid development of China’s SMEs play in the economic development of the increasingly important role, especially in the current employment situation is grim circumstances, SME development became the most important way to solve this problem. In the development process of SMEs’ development, the problem of financing has never satisfactorily resolved, Because the importance of the SMEs is improving in the country’s economic life, so the financing of small and medium-sized enterprises has become increasingly prominent. This paper seeks to explore and study the solution of financing SMEs.At present, Banks for SMEs play a leading role to provide financing services.The number is small through the capital market for direct financing.The reason is subject to the existing capital market conditions, How to promote the building of the direct financing for SMEs through the capital market and how to broaden the financing channels for SMEs is a study of the problem. This would have great significance.In the beginning with the definition of SMEs,The authors analyze the financing needs of SMEs Features.Chapter II, according to the financing needs of SMEs, it is proved that the SME capital market financing option is reasonable and feasible. The third part,foreign SMEs through the capital market financing model and experience is introduced, Also introduced China’s situation,By comparing the two experiences and draw inspiration.In the fourth chapter, according to the comparison results, the authors make the corresponding solutions.更多还原