【摘要】：中小企業(yè)融資難一直是困擾金融市場及廣大學(xué)者多年的難題。國內(nèi)外學(xué)者針對其原因做了詳盡的論述,提出過許多解決辦法。市場也陸續(xù)推出了中小企業(yè)集合債、中小企業(yè)集合票據(jù)等中小企業(yè)融資工具,但是由于種種原因,并沒有很好的解決中小企業(yè)融資難題。近兩年,中小企業(yè)老板跑路、民間借貸惡性事件、大批中小企業(yè)破產(chǎn)等問題的報道讓中小企業(yè)融資難題成為亟待解決的問題。2012年中小企業(yè)私募債的發(fā)行再次將中小企業(yè)融資問題推向社會各界的目光焦點。什么樣的融資產(chǎn)品才是中小企業(yè)的最優(yōu)選擇,什么樣的融資模式才最適合中小企業(yè)?基于此種環(huán)境及思考,本文從集合資金信托的角度探討了中小企業(yè)融資模式。第一章緒論部分分析總括了學(xué)術(shù)界關(guān)于中小企業(yè)融資難問題及集合資金信托的研究成果,并介紹文章的主要研究內(nèi)容及研究方法。第二章從中小企業(yè)融資現(xiàn)狀入手,詳盡分析了中小企業(yè)融資需求特征,并論述了不同企業(yè)類型及不同企業(yè)發(fā)展階段是如何影響這種需求的。然后對集合資金信托融資特點進行分析,發(fā)現(xiàn)其與中小企業(yè)存在諸多契合點。接著,將當(dāng)下幾類典型的中小企業(yè)融資產(chǎn)品進行比較。得出結(jié)論,中小企業(yè)集合資金信托具有優(yōu)勢性,堅持探索其融資模式及產(chǎn)品設(shè)計具有重要意義。第三章具體分析幾類中小企業(yè)集合資金信托的融資模式,并進行其優(yōu)勢分析、風(fēng)險揭示、流程設(shè)計。第四章對近年集合資金信托現(xiàn)狀進行統(tǒng)計分析,并對各種類型的中小企業(yè)集合資金信托融資模式進行了案例分析,然后對中小企業(yè)集合資金信托產(chǎn)品現(xiàn)狀進行了總結(jié),分析了市場上已有的中小企業(yè)集合資金信托產(chǎn)品存在的缺陷。第五章在前四章的基礎(chǔ)上對中小企業(yè)集合資金信托產(chǎn)品創(chuàng)新提出了探索性意見,針對投資對象的選擇、資金運用方式、信用增級方式等方面具體提出了改進意見。 本文的創(chuàng)新之處在于：針對集合資金信托,從中小企業(yè)資金需求的適配性和外部比較優(yōu)勢性兩方面確定了探索集合資金信托融資模式及產(chǎn)品設(shè)計的重要性。對中小企業(yè)集合資金信托產(chǎn)品進行了案例分析,指出了其現(xiàn)在存在的問題及可改進的地方。對如何創(chuàng)新中小企業(yè)集合資金信托融資給出了具體的建設(shè)性意見。
[Abstract]:The financing difficulty of small and medium-sized enterprises has been puzzling the financial market and scholars for many years. Scholars at home and abroad have made a detailed discussion of its causes, and put forward many solutions. The market has also introduced SME aggregate debt, SME collective notes and other SME financing tools, but due to various reasons, there is no good solution to SME financing problems. In the past two years, the bosses of small and medium-sized enterprises have run the road, and the vicious incidents of private lending have occurred. A large number of reports on the bankruptcy of small and medium-sized enterprises have made the financing problems of small and medium-sized enterprises urgent to be solved. The issue of private equity debt for small and medium-sized enterprises in 2012 once again pushed the issue of financing of small and medium-sized enterprises to the attention of all walks of life. What kind of financing products is the best choice for SMEs, what kind of financing model is the most suitable for SMEs? Based on this kind of environment and thinking, this paper discusses the financing mode of small and medium-sized enterprises from the angle of pooled fund trust. The first chapter introduces the main research contents and methods of the research on the financing difficulties of small and medium-sized enterprises and pooled funds trust. The second chapter starts with the current situation of SME financing, analyzes the characteristics of SME financing demand in detail, and discusses how different types of enterprises and different stages of enterprise development affect this demand. Then, the characteristics of pooled fund trust financing are analyzed, and it is found that there are many points of convergence with small and medium-sized enterprises. Then, several typical SME financing products are compared. The conclusion is that SME pooled fund trust has advantages, and it is of great significance to explore its financing mode and product design. The third chapter analyzes the financing mode of several kinds of SME pooled fund trust, and analyzes its advantages, risk disclosure and process design. The fourth chapter makes a statistical analysis on the current situation of pooled fund trust in recent years, and analyzes the various types of SME pooled fund trust financing model, and then summarizes the status quo of SME pooled fund trust products. This paper analyzes the defects of the existing SME pooled fund trust products in the market. On the basis of the first four chapters, the fifth chapter puts forward the exploratory opinions on the innovation of small and medium-sized enterprises' pooled fund trust products, and puts forward some specific suggestions on the choice of investment object, the mode of using funds, the way of credit enhancement, and so on. The innovation of this paper lies in: aiming at the pooled fund trust, this paper determines the importance of exploring the financing mode and product design of the pooled fund trust from two aspects: the adaptation of the capital demand of small and medium-sized enterprises and the external comparative advantage. A case study on the trust products of small and medium-sized enterprises is carried out, and the existing problems and improvements are pointed out. This paper gives some constructive suggestions on how to innovate the trust financing of small and medium-sized enterprises' pooled funds.
【學(xué)位授予單位】：西南財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.49;F276.3

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本文編號：2241982