中小企业集合发债的经济学研究

长期以来,资金短缺是制约中小企业发展的关键。2007年以来,我国进行了中小企业集合债券发行的试点工作。本文基于规模经济视角,对中小企业集合发债进行经济学研究,目的在于介绍一种融资方式,旨在拓宽中小企业的融资渠道;同时,针对发债主体间的关系提出进一步要解决的问题,认为中小企业集合发债对支持企业筹建新项目、扩大业务规模,推动企业跨越式发展,促进产业结构的调整和升级将发挥积极作用。

Economic Research of Bond Issue by Muster of Small and Medium-sized Enterprises

For a long time,capital shortage is the key to constraining the development of SMEs.Since 2007,the small and medium-sized enterprises in China set the pilot work for the bond issue.Based on economics perspective,bond issue by muster of SMEs are analyzed by economic theory.It aims at introducing a mode of financing and broadens financing channels.Meanwhile,it puts forward some further problems to solve.SMEs can support translated collection enterprise preparation of new projects,expand business scale,and promote enterprise development by leaps.It will play a positive role on promoting readjustment and upgrading of industrial structure.