联系我们

论文查询结果	返回搜索

论文编号：	443
作者编号：	2120062281
上传时间：	2008/6/13 12:33:10
中文题目：	创业融资中的民间金融问题研究
英文题目：	Research about the informal fi
指导老师：	张玉利 教授
中文关键字：	创业活动 融资模式 民间金融
英文关键字：	entrepreneurial activities th
中文摘要：	在中国，创业融资是一个崭新并且面临挑战的课题。与国外相比，中国的创业企业在融资方面面临的困难显然要大得多。在理论上，创业融资的渠道有很多种，如银行贷款、政府贷款、创业专项资金、风险投资、债券市场、证券市场等。但在现实中，对于准备创业者和初创1-2年的小企业来说，企业个人出资几乎构成创业资本的最主要来源，特别是对于农村镇、村一级的创业者来说，几乎不可能用正当的手段从上述正规金融渠道得到融资。实证研究表明，民间金融成为创业者在企业初创阶段融资的一种重要渠道。 从广东、福建、浙江等地大量的实证研究表明，民间金融对创业活动的支持可以分为两个方面，一是企业创办资金的来源。在企业创办和发展的早期，投资者无法完全依靠资本积累，通过集资或股权融资是相当普遍的。二是企业流动资金的供给。中国的中小企业由于在低积累的情况下发展起来的，有限的资金大部分用于固定资产投资，而流动资金主要来自外部融资，大量的私营企业其流动资金来自于民间金融。 中国民间金融的形式非常多样，而且不断出现新的形式。在长期的形成和发展过程中，这些民间金融不仅为当地的创业活动提供了大量的资金支持，而且发展了一些自控手段，有效的规避风险。但同时也看到民间金融就像正规金融一样，其风险不可能完全消除，这些风险不时的爆发威胁民间金融的生存。而且民间金融自身形式上的局限性也影响其发展壮大。本文试着提出一些建议以更有利于民间金融的发展，并使民间金融更加能够促进我国创业活动的发生和创业企业的成长。其中首要的就是国家要承认民间金融的合法性并按照其自身的规律特点来管理。规模如此庞大又对经济发展具有重大影响的一种金融形式却长期处于非法状态并得不到足够的支持，这显然是既不利于民间金融的发展。
英文摘要：	In China, start-up financing is a challenging issue. Compared with the other countries, China's business enterprises face much more difficulties in start-up financing. In theory, there are many different start-up financing channels, such as bank loans, government loans, venture funds for risk investment, the bond market, stock market, and so on. But in reality, for entrepreneurs and small enterprises which were founded for 1-2 years, the individual investors almost constitute the most important source of venture capital, particularly for the rural town and village-level entrepreneurs, that is mostly impossible to use legitimate means to obtain fund from the formal financial channels. Empirical research shows that informal finance is actually an important financing channel for entrepreneurs’ start-up businesses. In Guangdong, Fujian and Zhejiang, there are a lot of empirical research shows that informal financial support for entrepreneurial activities can be classified into two typologies: First, the funds sources of founding enterprises. In the early phase of establishing and developing enterprises, the investors are not totally dependent on the capital accumulation; it is also quite common such as through financing or stocks. Second, the floating capital supply of enterprises. Because China's middle-small enterprises were developing in the low accumulation situation, most of limited funds were invested into fixed assets, and the floating capital mainly came from external financing, Most of the private enterprises floating capital is gathered from the informal financial. There are plenty of informal finance sorts, and many new forms are emerging in China. During the long-term process of formalizing and development, these informal finances supported not only the local entrepreneurial activity with a lot of capital support, but also developed a number of self-controlled instruments, effectively avoiding risks. But on the other hand, like the formal financial, risk can not be completely eliminated. At times, these risks threaten the survival of informal finance. And the shortages of informal finance limit its development and growth. In this paper, I tried to put forward some suggestions which are more instructive to the development of informal finance, and the informal finance can contribute to more entrepreneurial activity and the growth of enterprises. Foremost among them is that the state should recognize the legitimacy of the informal finance and manage the informal finance in accordance with its own characteristics. The informal finance has such a large scale and has a significant impact on the economic development, but in a long-term is illegal and repeatedly suppressed, which is obviously not conducive to the development of the informal finance, neither conducive to economic development.
查看全文：	预览  下载(下载需要进行登录)