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Active force for promoting the Guangxi sustainable economic development , small and medium enterprises in Guangxi , played a huge role in increasing employment and social stability , and to serve the people's livelihood and improve people's living standards . However , compared with the developed areas , small and medium enterprises in Guangxi in addition to the general characteristics of SMEs , is also reflected in the various aspects of the development is lagging behind , a weak economic foundation , the low level of backward management . To improve the level of development of SMEs in Guangxi better service in Guangxi 's economy , you must crack Guangxi SME financing problems , research Guangxi how to help small and medium enterprises to secure financing , expand financing channels to become the focus of discussion . Combined on the basis of preliminary studies of many scholars , based on the financing pecking order theory to discuss the choice of the path of Guangxi SME financing , the financing pecking order theory and Guangxi combining the characteristics of SMEs , the proposed specification analysis methods , game theory , and integrated into the theory of information economics , through the combination of theory and field research , practice and experience data combination , trying to more comprehensive grasp of Guangxi SME financing structure to ease the plight of Guangxi SME financing , to provide a more reliable reference data. Firstly, the pecking order theory of financing in the financing structure theory and SME financing channels combination of research based on the choice of the financing path , thereby increasing the value of the SMEs , to improve a reliable foundation for the successful financing . In the second half of the article , combined with the specific characteristics of SMEs in Guangxi Guangxi SME alternative financing path , as well as the various factors that affect the financing of , respectively, on the basis of indirect financing and direct financing two aspects to explore the Guangxi SME financing path selection problem , and provide practical policy recommendations smoothly from the bank credit market and capital market financing for small and medium-sized enterprises .
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