基于共生理论的中小企业集群融资风险分摊机制

通过引入共生概念作为研究中小企业集群融资机制的分析工具,按照演化经济学的观点,运用金融契约关系模型,从风险总量角度对比分析了集群外企业与集群内企业进行外源融资时的系统总风险状况,得出集群内企业的系统总风险低于集群外企业融资总收益的结论,并运用实证模型分析解释了多主体共生网络中的风险分摊机制,发现与集群外中小企业相比,共生机制赋予集群内中小企业更低的融资风险和更高的融资效率性。

An Empirical Study of the Risk Sharing Mechanism for SME Clusters

This paper testified the privilege of SME cluster financing through an empirical study on the issues of financing situation of SME clusters.The empirical results show that the clustering is an innovation in SME＇s financing,which lays financing foundation for SME to solve the natural constraints.As a result,we must consider the risk sharing mechanism of symbiotic relationship,increasing the system utility and decentralizing systematic credit risk.An opinion has been put forward that the expanding the boundary of symbiotic relationship is an innovative mechanism of industrial clusters＇financing.