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Small and medium businesses promote the economic development in west…

On 25/04/2015, in Economics papers, by rain

Small and medium businesses promote the Economic development in western of the important strength, wide distribution in various sectors. Facing the increasingly fierce market competition, the western region of small and medium-sized enterprises want to achieve long-term stable development in the competition in the unbeaten position, you must constantly improve their technology innovation level. Only fully understand in the western region of influence factors of technological innovation of small and medium-sized enterprises, and find out which one is more important factors, can do in view, more effectively promote the Enterprise technology innovation, increasing the core competitiveness of the Enterprise, and promote the development of the Enterprise for a long time.This paper will theory analysis and empirical test, and the combination of western region of technological innovation of small and medium-sized enterprises to study factors. First of all, the technology innovation related theory were reviewed, and summarizes the domestic and foreign technology innovation past effect factors of the related research. Then, according to the characteristics of small and medium businesses in western China, analyzes the impact theory in the western region of technological innovation of small and medium-sized enterprises of various aspects of factors. Then, according to the theory of analysis of contents is proposed in the western region of technological innovation of small and medium-sized enterprises effect factors of the index system, building in the western region of the technological innovation of small and medium-sized enterprises influence factors initial model, and from the enterprise research and development Investment, enterprise personnel Investment, enterprise scale, the enterprise ownership structure, enterprise profitability, enterprise diversification strategy, capital structure seven put forward nine research hypotheses. Through the inspection method for optimizing model correction, finally refining out seven index said factors. Finally, by regression analysis method, the small and medium-sized enterprises listed in the western region of the published data and related information, the western region of technological innovation of small and medium-sized enterprises impact factors in the empirical research.The conclusion of this paper for:the more technical personnel, technical research and development in the more Investment, enterprise scale is bigger, the stronger the profitability, capital structure more reasonable, not the diversification strategy of small and medium-sized enterprise technology innovation ability is strong; And enterprise equity structure and R&D spending represents the proportion of sales revenue in the western areas is technological innovation of small and medium-sized enterprises very little influence; But in the western area technological innovation of small and medium-sized enterprises in each factors, the number of technical personnel and the proportion of enterprise technology innovation of the biggest effect, in contrast, research into the influence of the technical renovation is deficient. According to the above conclusions, the western region of technological innovation of small and medium-sized enterprises puts forward related Suggestions.

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Analysis on the Correlation of Private Equity and Short Term Growth of China’s Small and Medium-sized Enterprises

On 26/12/2014, in Economics papers, by rain

Private equity capital refers the capital that to be invested into the unlisted companies to buy its equity, while the investors providing value added service to the invested companies for the purpose to realize profits by selling the equity according to listing or transfer. With the essence of providing reasonable value judgment and regularity value added service, private equity has characteristics of investing lasting, no fluidity, information dissymmetrical, service Management, high venture and prospecting high profits. As the important subsystem of modern capital market, the private equity market plays an important role in boosting the development of SMEs, promoting the growth of economy and technology innovation, improving employment, expediting industry recombination and technology upgrade. Hence, private equity has gotten the great support from every government in the world and has the rapid development in recent years.Private equity funds generally take the form of non-public issuance. PE raises from the individuals or institutions (limited partners, LP) which have the capacity of risk identification and bearing,then take the funds to the Investment Management sector (General partner, GP) which consists of experts for operation. The PE funds are invested into different unlisted companies and provide value-added services, it often includes venture capital funds (VC), infrastructure funds, corporate merger and acquisition funds and so on.Its characteristic is”assets collection, Investment selection, risk diversification, professional Management, and value growth”. IN recent years, PE in China continues to expend the scale under the support of the government; it plays an important role in the growth of economy in china, especially for small and medium high-tech industry. As the innovative Investment fund, PE can contribute to the SMEs which have many difficulties by making them dynamic, which is of strategic significance for china’s Economic development.SMEs occupies an important place in our national economy and place an irreplaceable role on alleviating employment pressure and activating the market economy, however, financing is the biggest issue which is winding most of SMEs in china over the years and has not been solved effectively. Practice shows that, though the traditional financing way such as bank loan or debt financing offers money to SMEs on some extend, but due to the higher borrowing cost and risk and the internal defects existing in SME such as small scale, low technology, short of fixed assets, not standard financial system, nonpublic information, unclear governance structure, rigid management mode, low quality of operator, weak credit sense, SMEs urgently need to find a new financing way when they are keeping development of their own at the same time.Based on the study of the characteristics of private equity investment and the development of SMEs, firstly we revealed that PE not only can offer a new financing channel for SMEs, but also can help SMEs raise the level of corporate governance, improve the professional quality of manager, reform the shareholder structure, enhance the refinancing ability of SMEs, shorten the business cycle and reduce the risk, finally gains the profit through the listing of SMEs and makes SMEs’future bright. Secondly, we can prove a result through the empirical analysis that SMEs can promote the growth ability when they finance by PE. Lastly, in view of our country’s present PE market development, I put forward some suggestions.The innovation and value of this paper are that I combine the theory of PE and SMEs’ financing, research the growth index by using SPSS software and study qualitatively, and then get the result of the relationship between the PE and comprehensive growth value by using the mean comparison method. It is not a long time since our country’s SMEs’ board launched and we must select the latest data. The limitation of the paper are that because china’s private equity market is still in its initial stages and the statistics data is very absent, it is very hard to quantitatively analyze each effect which brought to SMEs by PE and because there is a time lag between annual report released time and the data selected time, I can’t get the latest year data which is showing the SMEs’ next year performance from the time they listed in, which reduced the strictness of the analysis procedure and conclusion and should be the research fields in the future.

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Study on Mortgage Financing for Small and Medium Enterprises Based on Game Theory

On 03/12/2014, in Economics papers, by rain

Small and medium enterprises (SMEs) have had a rapid development and promoted the national Economic growth since the reform and opening. However, the financing problems of the SMEs which prevent SMEs from development have not been fundamentally resolved yet and now the financing of SMEs depends primarily on commercial bank loan. Therefore, the new way of corporation finance namely mortgage finance which does not rely on bank provides an alternative way for SMEs and is worth for deeply study resulting from its theoretical and realistic meaning.First, the enterprises credit of SMEs was defined in this paper and the credit game model was built by analyzing the information asymmetry between SMEs and bank. Second, the game process was mainly studied under the model and the conclusion was drawn: it was good to set up the firm cooperation strategy between SMEs and mortgages, which also contributed the diversification of finance channels for financial market. Third, the connection and distinction between mortgage financing and bank loan were also discussed. Meanwhile, examples were given to prove that the pawn could alleviate the financing difficulty to a certain extent. From the pawn perspective, some suggestions were given for the development of mortgage and SMEs by analyzing the advantage of mortgage due to its promising finance way for SMEs.In this paper, other types of financial services institutions rather than bank system were focused on studying the financing problems of SMEs and mortgage was demonstrated as a promising method to solve these problems. In addition, mortgage can not only directly fund the SMEs but enrich the service areas which result in more funding from other potential channels. In conclusion, mortgage offers a new way to fund the SMEs.

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The Research of ERP Implementation on Small and Medium Enterprises Based on BPM

On 21/09/2013, in Management, by rain

Along with the transform of market economy, small and medium enterprises are playing a more and more important role in the development of national economy in China. In the face of the big trend of Enterprise informatization construction, small and medium enterprises using Enterprise resource planning as the first choice more and more to improve enterprise informatization level. However, the success rate of enterprise resource planning implementation in small and medium enterprises in our country is not optimistic. Therefore, how to improve the efficiency and the success rate of enterprise resource planning implementation will be the problem before us. Based on this, the paper has proposed the ERP implementation on small and medium enterprises based on BPM on the basis of comprehensive research the enterprise resource planning system theory and business process Management theory, and with Yizhen group’s ERP project implementation as an example to perform verification, it made a very good effect. The main research contents are as follows:1、Putting forward the right software and effective implementation methods is the fundamental conditions to guarantee the enterprise resource planning can succeed implementation in the small and medium enterprises, and gives several reference suggestions about enterprise resource planning selection of small and medium enterprise.2、Putting forward four sign to measure the success of enterprise resource planning application in the small and medium enterprise:whether the operation of the system is integration; whether the enterprise business process is reasonable; whether it has the dynamic performance monitoring; whether the Management improvement is continued.3、Putting forward the implementation strategy of business process management in the small and medium enterprise, and dialectical analysis the relationship between enterprise resource planning and business process management.4、The paper has proposed the ERP implementation on small and medium enterprises based on BPM on the basis of comprehensive research the enterprise resource planning, business process management and small and medium enterprises status. This paper introduces the preparatory work, the implementation process and the choice of the implementation program of the small and medium enterprises enterprise resource planning project implementation in detail. Firstly, the ERP implementation on small and medium enterprises based on BPM uses the business process management to analyze the business processes of the enterprise, and then selects enterprise resource planning software for enterprise development according to the results of the analysis, at last adjusts the natural processes and business processes of enterprise resource planning in the implementation process by two-way and achieve the best results.At last, this paper takes medium construction enterprises-Yizhen group’s ERP project implementation for example to implements and validates this method. The paper also builds solutions of enterprises’network, hardware and software on the basis of analyzing corporate status of Yizhen group, and analyzes various business processes in the process of the implementation in detail. The successful implementation of the Yizhen group’s enterprise resource planning project really has fully proved the effectiveness of the method.The ERP implementation on small and medium enterprises based on BPM has advanced effect for small and medium enterprises enterprise resource planning implementation in China, it can improve the enterprise resource planning implementation success rate of small and medium enterprises in the process of information construction in China. This method can make the appropriate adjustment in the implementation process, depending on the size of enterprise and industry.

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Study on Small and Medium Sized Enterprises Financing

On 19/09/2013, in Management, by rain

Small and medium enterprises has an important position in China’s economy and has made a significant contribution with an important force to stimulate Economic vitality, Economic growth and China’s socialist Economic construction. Small and medium enterprises own flexible operation mechanism and market adaptability, driving force of China’s economic transformation. The shortage of funds is the main bottleneck to restrict the development of SMEs, and SME financing situation making it become a complicable problem of the world.The first chapter of the thesis, described the study background and significance, stipulated that the important position of SMEs in our economy, combing theory of theoretical study on SME financing at home and abroad, and research contents and methods are briefly described.The second chapter of the thesis, ontological cut from the small and medium-sized enterprises and their financing, as defined in the concept and characteristics of the introduction of SME finance theory and financing patterns.The third chapter of the thesis, a comprehensive analysis of SME financing in China the status quo, financing characteristics, analysis of the financing difficulties of causes.Chapter IV of the paper, comparative analysis of the United States, Japan on the Management of SME financing, the revelation of the statement of foreign experience to solve the problem of financing SMEs in China.In chapter5, the problems path linkage services to build the whole financial system, and explore financing options for SMEs, to encourage banks to financial product innovation, construction, financial information, business platform, broaden the financing channels for SMEs, the establishment of SME credit system, improve the small and medium corporate finance legislation, strategies and recommendations.Finally, the paper pointed out the subject of unresolved outlook and instructions.

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The Research on Our Large-scale Banks Loans to Small-and-Medium Enterprises

On 17/09/2013, in Finance, by rain

The financing of Small-and-Medium enterprises(SMEs) is a worldwide anddifficult problem. Although our country adopted a series of financial measures toimprove the financing environment for SMES, the problems in financing have notbeen improved effectively. A large gap still exists between the current financingenvironment and enterprises’ expectations. The credit satisfaction rate of SMEs stillneeds to be improved. Because the financial market of SMEs is difficult to establishcomparatively perfect market system, and the private financial institutions and smallfinancial organization may not have large development in the short term, it is animportant channel to rely on large banks for solving the SMEs’ financing difficulties.It is the traditional opinion that the small banks have comparative advantagescompared to the large banks on SMEs’ credit. But this paper thinks that, the largebanks have more comparative advantages compared to the small banks on transactionlending. Based on the situation of reasonable financial structure and perfect lendinginfrastructure, the large banks can improve the financial problems of SMEs throughinnovative technologies and other ways.This paper aims to effectively improve the SMEs’ credit financing problem, andestablish a sustainable organization mode of SMEs’ credit for our large banks. Firstly,this paper will comb the theories of Enterprise financing, refine the characteristics ofSMEs’ financing and comparative analyze the SMEs’ lending technologies; then byanalyzing the current situation of China’s large banks on loans to SMEs, to reflect thenecessity of enhancing SMEs’ credit in large banks. At the same time, comparativeanalyzing the current organizational modes of SMEs’ credit in large banks, based onlending technologies. From the micro perspective, this paper will analyze empiricallythe influential factors of the SMEs’ credit availability and loan interest rates, fromlarge banks, based on the data of a large bank in China. The results include that thelarge banks mainly taken the transaction lending on SMEs’ credit; The influentialfactors of the SMEs’ credit availability are the firm characteristics and the creditcontract characteristics, and do not value financial features of SMEs very much; Andwhen pricing the interest rates, large banks are more concerned about the firmcharacteristics, the loan contracts characteristics and the financial characteristics.Finally, this paper proposes four suggestions for our large banks, includes effectively using of credits scoring technology, innovative mortgage lending technology,improving the organization modes of SMEs’ credit and maturiting the loadinfrastructures..

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Studyn on Guangdong Small and Medium Enterprises Industrial Structure

On 15/09/2013, in Management, by rain

Guangdong economy has created a remarkable miracle as the Reform&Openingstrategy in30years. Small and medium enterprises (brief as SEMs here in after) have makerepid developement in this environment and plays an important roles in Guangdong Provinceeconormy progress. However, Guangdong economy is now facing econormic transition,which effects to the development of SMEs in Guangdong.This thesis have lots of information by collecting great datas of Statistics Bureaudepartments&Jingpu Mantenance box of Guangdong Province in2010and by using STATAstatistical software. It analyse Guangdong indutrial structure and SEMs structure combiningwith theoretical study and large amounts of data from domestics and aboard.Firstly, this thesis introduces the related concepts of SMEs industrial sturcture, explainsthe problems in Guandong Province and Guangdong SMEs indutrials structure, indicates theslow progress situation and states out some key econormic indicators have lagged behindother province. Therefore, restructuring of the industry is a must to sustained economicdevelopment in Guangdong province.Secondly, this thesis describes the SMEs is an important component of econormicdevelopment in Guangdong Province. It is making great force to push Guangdongeconormics ahead. However, the existing problems in SEMs affecting its healthy andsustainable development. How to improve the industry sturcture adjustment is the maincontent of this thesis. Through the related research on SMEs and data analysis, SMESindustrial structure adjustment in econormic transition can be initiated in two ways, one isthrough industrial structure optimization, the other is through industrial structure upgrading.Finally, this thesis draws conclusion on SMEs industrial structure adjustment, providesapplicable suggestions and solutions.

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Research on the External Financing Environment of Small and Medium Enterprises of China

On 11/09/2013, in Management, by rain

This paper first gives the definition of SME financing, and financing environment, and literature combing financing situation of small and medium enterprises at home and abroad, and then through the analysis of the the financing status quo of China’s small and medium enterprises, to identify the key issues constraining the development of SMEs in China where; after specific status quo of China’s external financing environment, from the macroeconomic, financial services, government support, laws and regulations, the five aspects of the Social services of external financing environment for SMEs financing; after analysis of the United States, Japan and other developedthe pros and cons of the country’s external financing environment, improve the financing environment for our recommendations; Finally, based on the results of the analysis, separately proposed to improve the policy recommendations of external financing environment for SMEs:optimization of the macroeconomic environment, and promote Economic development; development of the financialservice environment, to provide financial support; strengthen the awareness of government support Environmental governance functions; improve the legal and regulatory environment, strengthen the legal protection; promote Social service environment, improve service.

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The SME Network Bank Credit Mode and Risk Control

On 11/09/2013, in Economics papers, by rain

Under current domestic and international Economic environment, the deep-seated impact of the international financial crisisis still apparent. Domestic economy increased downward pressure on the problem of financing has become the bottle neck in the development of many enterprises, especially serious for small and development of many enterprises serverly. Traditionak credit under writing standards and credit system standard can not be widely applicable to small and medium enterprises, making it still higher in the bank’s loan threshold. although traditional banks not actually pay much attention to SMES customers. As a new financing channel, the network bank credit started to appear in the field of vision of the SME. Especially in the case of this year’s Economic downturn, the network credit becomes the new way of many SME financing. Datermine the credit risk of SMEs due to the small scale, lack of effective mortgage asset larger. How to take advantage of new financing channels of the network banks and business operation mode become more important in the current Economic environment, which can do to serve for many small and medium enterprises and control credit risk effectively.In this article, a research way of the combined theory and application is widely adopted to make a systematic summarization on the application mode in the SME network bank credit financing, risk control messures and the advantage of the credit facilities for SMEs. It also pointed out the potential risk of the commercial banking network of bank credit in the SMEs credit business, and concrete and specificre commendations preventing the potential risk issues.Finally, The example is gived that the Construction Bank carrying online banking credit service on Lovol Enterprise by the way of core Enterprise supply chain financr online banking mode. It also describes the service to enterprises members on supply chain of Lovol by CCB and Measures of credit risk control as well as the effect of network credit business development.

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Analysis on the Correlation of Private Equity and Short Term Growth of China’s Small and Medium-sized Enterprises

On 11/09/2013, in Management, by rain

Private equity capital refers the capital that to be invested into the unlisted companies to buy its equity, while the investors providing value added service to the invested companies for the purpose to realize profits by selling the equity according to listing or transfer. With the essence of providing reasonable value judgment and regularity value added service, private equity has characteristics of investing lasting, no fluidity, information dissymmetrical, service Management, high venture and prospecting high profits. As the important subsystem of modern capital market, the private equity market plays an important role in boosting the development of SMEs, promoting the growth of economy and technology innovation, improving employment, expediting industry recombination and technology upgrade. Hence, private equity has gotten the great support from every government in the world and has the rapid development in recent years.Private equity funds generally take the form of non-public issuance. PE raises from the individuals or institutions (limited partners, LP) which have the capacity of risk identification and bearing,then take the funds to the Investment Management sector (General partner, GP) which consists of experts for operation. The PE funds are invested into different unlisted companies and provide value-added services, it often includes venture capital funds (VC), infrastructure funds, corporate merger and acquisition funds and so on.Its characteristic is”assets collection, Investment selection, risk diversification, professional management, and value growth”. IN recent years, PE in China continues to expend the scale under the support of the government; it plays an important role in the growth of economy in china, especially for small and medium high-tech industry. As the innovative investment fund, PE can contribute to the SMEs which have many difficulties by making them dynamic, which is of strategic significance for china’s Economic development.SMEs occupies an important place in our national economy and place an irreplaceable role on alleviating employment pressure and activating the market economy, however, financing is the biggest issue which is winding most of SMEs in china over the years and has not been solved effectively. Practice shows that, though the traditional financing way such as bank loan or debt financing offers money to SMEs on some extend, but due to the higher borrowing cost and risk and the internal defects existing in SME such as small scale, low technology, short of fixed assets, not standard financial system, nonpublic information, unclear governance structure, rigid management mode, low quality of operator, weak credit sense, SMEs urgently need to find a new financing way when they are keeping development of their own at the same time.Based on the study of the characteristics of private equity investment and the development of SMEs, firstly we revealed that PE not only can offer a new financing channel for SMEs, but also can help SMEs raise the level of corporate governance, improve the professional quality of manager, reform the shareholder structure, enhance the refinancing ability of SMEs, shorten the business cycle and reduce the risk, finally gains the profit through the listing of SMEs and makes SMEs’future bright. Secondly, we can prove a result through the empirical analysis that SMEs can promote the growth ability when they finance by PE. Lastly, in view of our country’s present PE market development, I put forward some suggestions.The innovation and value of this paper are that I combine the theory of PE and SMEs’ financing, research the growth index by using SPSS software and study qualitatively, and then get the result of the relationship between the PE and comprehensive growth value by using the mean comparison method. It is not a long time since our country’s SMEs’ board launched and we must select the latest data. The limitation of the paper are that because china’s private equity market is still in its initial stages and the statistics data is very absent, it is very hard to quantitatively analyze each effect which brought to SMEs by PE and because there is a time lag between annual report released time and the data selected time, I can’t get the latest year data which is showing the SMEs’ next year performance from the time they listed in, which reduced the strictness of the analysis procedure and conclusion and should be the research fields in the future.