转型经济背景下中小企业融资结构变迁

转型经济时期,我国中小企业得到迅速发展,它们不但成为国民经济的重要支柱,同时也为社会提供了大量的就业机会。但是,由于自身的因素和外部环境的影响,中小企业在融资方面一直存在"麦克米伦缺口"(Macmillan Gap),即"资金供给方不愿意以中小企业所要求的条件提供资金"。融资难的问题,不仅使中小企业的融资成本高居不下,而且直接影响到企业的市场竞争力和未来发展。

The Evolution of the Small & Medium Enterprises' Financing Structure during Economic Transition

During the economic transition,the native Chinese small & medium enterprises have developed rapidly and become the important component of national economy,offering plenty of employment opportunities.However,for both the internal and external reasons,many of them are handicapped by the Macmillan Gap,i.e.suppliers are unwilling to supply the needed capital according to the terms of enterprises.Such financing difficulty just causes the high cost of the enterprise financing and influences the market competitive...