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The Research on Relationship-lending and SME Financing Efficiency

Author: LuoZuo
Tutor: DaiXiaoFeng
School: Hunan University
Course: Finance
Keywords: Relationship-lending Financing efficiency SME Information asymmetry
CLC: F276.3;F224
Type: Master's thesis
Year: 2009
Downloads: 175
Quote: 0
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Abstract


As a main factor to the economic development, SME has played an important role in promoting economic development. However, the difficulty of SME financing has become one of the main factors to constrain its growth. As a way of lending, through building deep relationship between banks and SME, and producing‘soft information’, relationship-lending can reduce the problem of asymmetric information, increase the availability of financing, lower transaction costs, thus improve financing efficiency. Making a good relationship between banks and SME is supposed to alleviate the financing difficulties of SME effectively.This article is divided into five sections. Section one is introduction. From the aspects of current situation of SME financing and macroeconomic background, we analyze the practical and theoretical significance of relationship lending and financing efficiency, which describes the value of this thesis. Section two is literature review. From the perspective of information asymmetry, we represent the nature and characteristics of relationship lending and its affects’on the corporate financing efficiency, pointed out that relationship lending can improve the efficiency of corporate finance, which is a better solution to information asymmetry and to ease SME’s finance dilemma. In section three, we are supposed to find some effective messages that are useful for China by comparing different type of relationship lending. The fourth section is empirical analysis. By using financing data provide by NSSBF to take empirical analysis, we find that the close relationship between bank and enterprise has a positive impact on financing efficiency improving. After analyzing current condition of financing for SME in china, conclusion and suggestions are made in the end.

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CLC: > Economic > Economic planning and management > Economic calculation, economic and mathematical methods > Economic and mathematical methods
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