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在我国经济进入新常态的大环境下,尽管金融脱媒和直接融资发展越来越快,但是银行贷款对现代经济运行和发展的作用仍至关重要,尤其是对小微企业发展的推动作用明显。由于小微企业很难进入公共债务市场,其对银行贷款具有较强的依赖性,而且现阶段其在信贷市场中的贷款议价能力与金融机构相比仍处弱势,故融资约束仍然是制约其发展的一大瓶颈。本文旨在对小微企业的贷款议价能力进行研究,首先通过构建企业的融资成本模型,得出利率市场化和企业信息对小微企业贷款议价能力具有显著影响;其次基于这两方面视角对贷款议价能力的影响机制进行实证分析,并得出有效结论;文章最后对如何提高小微企业在信贷市场中的贷款议价能力提出一些合理化政策建议。
Under the environment in which our economy has entered a new normal, despite the ever-faster development of financial disintermediation and direct financing, the role of bank lending in the operation and development of the modern economy remains crucial, especially for the development of small and micro enterprises obvious. As small and micro enterprises have difficulty entering the public debt market and have strong dependence on bank loans, and their loan bargaining power in the credit market is still weak compared with financial institutions at this stage, the financing constraints are still restricting their A major bottleneck in development. This paper aims to study the loan bargaining power of small and micro enterprises. First, through the construction of the enterprise financing cost model, it is concluded that the marketization of interest rates and the enterprise information have a significant impact on the bargaining power of loans to small and micro enterprises. Secondly, based on these two perspectives, Finally, the article puts forward some reasonable policy suggestions on how to improve the bargaining power of loans in the credit market of small and micro enterprises.