信息、制度与中小企业融资
摘 要
我国中小企业融资难既有市场不完全、不完善的市场性成因也有政
策扶持不足和监管过严的制度性因素，厘清这些原因既是政府出台政策
解决问题的理论支撑，也为寻找有效的解决方案奠定逻辑基础。本文综
合分析信息条件（市场）和金融体系（制度环境）对中小企业融资模式
选择、融资成本、融资难易度的影响；剖析造成融资难的复杂成因，并
通过对中小企业融资问题的实证检验，对理论分析进行一定的检验，以
此为基础提出对解决该问题的建议，从而为解决我国中小企业融资难的
问题提供有效的指导。

本文采取实证研究方法和规范研究方法，对中小企业融资问题的相
关文献进行梳理，对中小企业融资模式与影响因素进行实证研究；通过
对上海市奉贤区中小企业融资情况进行案例分析；以上述研究为基础，
经济发展的实际和中小企业融资过程中运行机制的特点，对解决当前中
小企业融资方面存在的问题提出相关的政策建议和对策方法。

解决我国中小企业融资难的政策机制和对策，主要包括政府制度层
面的制度设计与主导作用、市场机制完善即充分利用市场自我纠偏功
能，降低因信息不对称造成的融资难等。

关键词：中小企业；信息不对称；中小企业融资

INFORMATION SYSTEMS AND SME FINANCING
ABSTRACT
Both of SME financing market is incomplete, imperfect market of
causes have inadequate policy support and over-regulation of institutional
factors , to clarify these reasons both government policies to solve the
problem of theoretical support , but also to find effective solutions lay a
logical basis . In this paper, a comprehensive analysis of the information
conditions ( market ) and financial system ( institutional environment ) for
SME financing mode selection , the impact of financing costs , financing
difficulty level ; analyze financing difficulties caused by the complexity of
the causes and financing of SMEs through empirical testing , some of the
theoretical analysis test , in order to make recommendations to solve the
problem , based on providing effective guidance to solve the financing
problem of SMEs .
In this paper, empirical research methods and norms adopted research
methods, literature SME financing issues to sort out, for SME financing
models and empirical research factors ; SME financing through case studies
Fengxian District, Shanghai ; in these studies characterized by physical and
SME financing process based economic development operating mechanism
for solving the financing problems of SMEs make relevant policy
recommendations and measures method .
Solve the financing difficulties of SMEs policy mechanisms and
countermeasures , including system design and the leading role of the
government system level , improve market mechanisms that take full