摘要
金融声誉作为表征中小民营企业资信水平的重要信号,对关系型融资模式下中小民营企业的融资能力具有重要影响。从动态视角出发,基于群体性与个体性金融声誉交互作用理论,着重考察了二者的交互作用对中小民营企业融资能力的影响过程,并从规模经济效益和信贷资产质量两个角度对其形成机理进行了细致探讨。研究结果表明:群体性金融声誉水平过低,并对个体性金融声誉构成了严重的"侵蚀"是导致当前我国广大中小民营企业陷入融资困境的重要原因,而对规模经济和信贷资产质量的权衡是触发金融声誉"侵蚀效应"的内在根源。当群体性金融声誉水平过低时,中小民营企业信贷资产质量下滑所带来的损失将超过规模经济效率的提升所带来的好处,为了规避信贷风险,提高信贷收益,金融机构将有意识地调高群体性金融声誉对个体性金融声誉的侵蚀系数,这将降低银行据以做出信贷决策的"评估金融声誉"水平,弱化中小民营企业的融资能力,加剧其融资困境。
Financial reputation which characterization the crediet status of small and medium -sized private enterprises plays a crucial role in the improvement of it's financial ability under the circumustance of relationship financial model. In order to analysis the influence of financial reputation on financial ability, the author mande an theoratical analysis based on the interactive of group and individual financial reputation theory from the perspective of dynamic angle. Specifically ,the author investigated the affect process that interactive between group and individual fiancial reputation imposed on the improvement of financial ability for small medium-sized enterprises. At meanwhile,the author deducted the mechanism that why a vast of small and medium-sized private enterprises would involved into financial dilemma. The research demonstraed that: group financial reputation is so low that erode the individual financial reputation is the mainly cause that render small and medium-sized private enterprises involve into the quandary cituation of financial dilemma. Futher more,trade off between the benefit from the adjust of credit scale and crediet aseet quality is the intrinsic factor that triggered the financial dilemma. Once the group finacial reputation of small and medium - sized enterprises crossed the criticdal point, loss from the elapse of credit asset quality would exceed the earning from the increasing of scale effect, in order to avoid the credit risk and improve the revenue of credit acivility, fiancial instution would amplifer the erode coefficient that group finacial reputation imposed on individual financial reputation. What's worse, the'4 asset financial reputation'? which conducted by the finacial ins ititution would decreased and the financial ability for small and medium-sized private enterprises would be weaken and the financial dilemma would be deteriorated .
作者
钟成林
胡雪萍
Zhong Chenglin;Hu Xueping
出处
《社会科学》
CSSCI
北大核心
2019年第5期50-58,共9页
Journal of Social Sciences
关键词
中小民营企业
个体性金融声誉
群体性金融声誉
Small and Medium-sized Priate Enterprises
individual Fiancial Reputation
groupFinancial Reputation
Interactive Effect
