中国小微企业融资约束的影响因素:风险信息传递视角

IF 4.3 Q1 PSYCHOLOGY, MULTIDISCIPLINARY Human Behavior and Emerging Technologies Pub Date : 2024-05-23 DOI:10.1155/2024/3614328
Yuhuan Jin, Sheng Zhang, Ruoxi Yu, Tao Huang
{"title":"中国小微企业融资约束的影响因素:风险信息传递视角","authors":"Yuhuan Jin,&nbsp;Sheng Zhang,&nbsp;Ruoxi Yu,&nbsp;Tao Huang","doi":"10.1155/2024/3614328","DOIUrl":null,"url":null,"abstract":"<p>Given the phenomenon of “financing is difficult and expensive” for MSEs, this paper empirically investigated the influencing mechanism of the credit demand side characteristics on the financing constraints of MSEs based on the information conveyance perspective. The conclusions show that MSEs in China are severely suffering from financing constraints and 57.17% and 50.00% of MSEs with credit demand have not applied for loans from formal and informal financing channels, respectively. In terms of enterprise characteristics, MSEs have low asset size, short establishment history, weak profitability, and lack of tools such as fixed assets, complete financial management system, professional technicians, and private brands to convey risk information to financing institutions, which are key factors resulting in their financing constraints. In terms of owner characteristics, young owners lack financing experience and convey higher risk information to financing institutions; therefore, owners’ age negatively influences the financing constraints of MSEs. These findings suggest that banks can use big data credit technology as a tool to obtain risk information about MSEs, and the government should implement diversified interventions to improve the information environment in financial markets. These findings provide empirical evidence for banks and governments to address the financing constraints of MSEs.</p>","PeriodicalId":36408,"journal":{"name":"Human Behavior and Emerging Technologies","volume":null,"pages":null},"PeriodicalIF":4.3000,"publicationDate":"2024-05-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1155/2024/3614328","citationCount":"0","resultStr":"{\"title\":\"Influencing Factors of Financing Constraints of Micro and Small Enterprises (MSEs) in China: A Risk Information Conveyance Perspective\",\"authors\":\"Yuhuan Jin,&nbsp;Sheng Zhang,&nbsp;Ruoxi Yu,&nbsp;Tao Huang\",\"doi\":\"10.1155/2024/3614328\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<p>Given the phenomenon of “financing is difficult and expensive” for MSEs, this paper empirically investigated the influencing mechanism of the credit demand side characteristics on the financing constraints of MSEs based on the information conveyance perspective. The conclusions show that MSEs in China are severely suffering from financing constraints and 57.17% and 50.00% of MSEs with credit demand have not applied for loans from formal and informal financing channels, respectively. In terms of enterprise characteristics, MSEs have low asset size, short establishment history, weak profitability, and lack of tools such as fixed assets, complete financial management system, professional technicians, and private brands to convey risk information to financing institutions, which are key factors resulting in their financing constraints. In terms of owner characteristics, young owners lack financing experience and convey higher risk information to financing institutions; therefore, owners’ age negatively influences the financing constraints of MSEs. These findings suggest that banks can use big data credit technology as a tool to obtain risk information about MSEs, and the government should implement diversified interventions to improve the information environment in financial markets. These findings provide empirical evidence for banks and governments to address the financing constraints of MSEs.</p>\",\"PeriodicalId\":36408,\"journal\":{\"name\":\"Human Behavior and Emerging Technologies\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":4.3000,\"publicationDate\":\"2024-05-23\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"https://onlinelibrary.wiley.com/doi/epdf/10.1155/2024/3614328\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Human Behavior and Emerging Technologies\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://onlinelibrary.wiley.com/doi/10.1155/2024/3614328\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q1\",\"JCRName\":\"PSYCHOLOGY, MULTIDISCIPLINARY\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Human Behavior and Emerging Technologies","FirstCategoryId":"1085","ListUrlMain":"https://onlinelibrary.wiley.com/doi/10.1155/2024/3614328","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"PSYCHOLOGY, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0

摘要

针对微小企业 "融资难、融资贵 "的现象,本文基于信息传递视角,实证研究了信贷需求侧特征对微小企业融资约束的影响机制。结论显示,我国中小微企业融资约束严重,分别有 57.17%和 50.00%的有信贷需求的中小微企业没有从正规和非正规融资渠道申请过贷款。从企业特征来看,中小微企业资产规模小、成立时间短、盈利能力弱,缺乏固定资产、完善的财务管理制度、专业技术人员、自有品牌等向融资机构传递风险信息的工具,是导致其融资约束的关键因素。从所有者特征来看,年轻所有者缺乏融资经验,向融资机构传递的风险信息较高,因此,所有者年龄对中小微企业融资约束有负面影响。这些研究结果表明,银行可以利用大数据征信技术作为获取中小微企业风险信息的工具,政府也应实施多元化的干预措施来改善金融市场的信息环境。这些研究结果为银行和政府解决中小微企业融资约束问题提供了经验证据。
本文章由计算机程序翻译,如有差异,请以英文原文为准。

摘要图片

查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
Influencing Factors of Financing Constraints of Micro and Small Enterprises (MSEs) in China: A Risk Information Conveyance Perspective

Given the phenomenon of “financing is difficult and expensive” for MSEs, this paper empirically investigated the influencing mechanism of the credit demand side characteristics on the financing constraints of MSEs based on the information conveyance perspective. The conclusions show that MSEs in China are severely suffering from financing constraints and 57.17% and 50.00% of MSEs with credit demand have not applied for loans from formal and informal financing channels, respectively. In terms of enterprise characteristics, MSEs have low asset size, short establishment history, weak profitability, and lack of tools such as fixed assets, complete financial management system, professional technicians, and private brands to convey risk information to financing institutions, which are key factors resulting in their financing constraints. In terms of owner characteristics, young owners lack financing experience and convey higher risk information to financing institutions; therefore, owners’ age negatively influences the financing constraints of MSEs. These findings suggest that banks can use big data credit technology as a tool to obtain risk information about MSEs, and the government should implement diversified interventions to improve the information environment in financial markets. These findings provide empirical evidence for banks and governments to address the financing constraints of MSEs.

求助全文
通过发布文献求助,成功后即可免费获取论文全文。 去求助
来源期刊
Human Behavior and Emerging Technologies
Human Behavior and Emerging Technologies Social Sciences-Social Sciences (all)
CiteScore
17.20
自引率
8.70%
发文量
73
期刊介绍: Human Behavior and Emerging Technologies is an interdisciplinary journal dedicated to publishing high-impact research that enhances understanding of the complex interactions between diverse human behavior and emerging digital technologies.
期刊最新文献
Customizability in Conversational Agents and Their Impact on Health Engagement (Stage 2) Crafting Robust Brands for Premium Pricing: Understanding the Synergy of Brand Strength, Loyalty, and Attachment Leveraging Big Data Analytics for Understanding Consumer Behavior in Digital Marketing: A Systematic Review The Use of Physical Activity Mobile Apps Improves the Psychological State of Adolescents: A Randomized Controlled Trial Digital Life Balance and Need for Online Social Feedback: Cross–Cultural Psychometric Analysis in Brazil
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1