民营企业融资障碍和对策分析

摘 要
随着以公有制为主体混合经济格局的形成，民营经济在实现充分就业，促进经
济增长，深化所有制结构调整，促进市场经济体制不断完善等方面发挥着越来越大
的作用。然而我国民营企业对国民经济发展的贡献率和获得的金融资源极不相称。
在中国，民营企业想获得银行贷款困难重重，同样在直接融资市场，民营企业上市
受到严格限制，而有利于民营企业的二板市场迟迟未推出。融资成了众多民营企业
的难题。
资金是民营企业生产力得以扩张的砝码，民营企业目前出现资源匮乏、技术创
新压力、规模过小、市场占有率低下等问题，归根到底在于资金的严重不足。融资
难已成为民营企业进一步发展的瓶颈，解决民营企业融资难的问题已是迫在眉睫的
任务。
民营企业的融资困境是多个因素作用的结果。本文从民营企业自身存的问题和
民营企业在直接融资渠道、间接融资渠道存在的障碍三方面对民营企业融资难的成
因进行了深入的分析。针对存在的问题，坚持多管齐下、标本兼治、整体推进的原
则，系统的提出了解决方案，为民营企业的发展准备了一套较完善的金融支持体系
构想，帮助民营企业解决融资困境，使它们为我国经济发展做出更大的贡献。

关键词 民营企业 融资障碍 民营银行 二板市场
目 录
-IV-
目 录
声 明························································································································· I
摘 要······················································································································· II
ABSTRACT ············································································································· III
目 录······················································································································ IV
引 言·························································································································1
第一章 民营企业的发展及其面临的融资瓶颈·························································2
1.1 民营企业的发展及其在国民经济中的重要作用············································ 2
1.1.1 中国民营企业的内涵············································································ 2
1.1.2 民营企业在国民经济中的重要地位和作用············································ 2
1.2 民营企业发展的融资瓶颈··············································································· 4
1.2.1 民营企业的融资现状············································································· 4
1.2.2 融资难对民营企业发展的束缚······························································ 5
第二章 民营企业融资面临的主要障碍·····································································6
2.1 民营企业自身的障碍······················································································· 6
2.1.1 民营企业大多为中小企业，资产少，负债能力有限·························· 6
2.1.2 企业市场竞争能力弱，稳定性差·························································· 6
2.1.3 民营企业融资的单位成本高·································································· 7
2.1.4 民营企业与银行之间信息不对称严重·················································· 7
2.1.5 部分民营企业信用意识不强，拖欠逃废债务严重······························ 7
2.2 间接融资渠道的障碍······················································································· 8
2.2.1 国有金融体制对国有企业的长期金融倾斜·········································· 8
2.2.2 银行信贷风险管理水平不高,排斥给民营企业贷款····························· 9
2.2.3 信贷市场高度垄断,民间金融机构缺乏··············································· 10
2.2.4 民营企业寻求贷款抵押和担保不易···················································· 11
2.3 直接融资渠道的障碍····················································································· 12
2.3.1 民营企业直接融资存在制度性障碍···················································· 12
2.3.2 我国的风险投资尚属起步，极不完善················································ 12
2.3.3 现行的资本市场层次太少···································································· 14
第三章 解决民营企业融资难的对策·······································································15
3.1 民营企业自身的完善和发展是解决融资困难的根本出路所在·················· 15
3.1.1 建立规范的现代企业制度···································································· 15
3.1.2 增强信用意识，加强信用管理，构建良好的银企关系···················· 16
3.1.3 进行产业结构调整，走专业化、规模化、优质化的发展道路········· 16
3.2 加快金融体制改革,增强各类金融机构对民营企业融资的信贷支持作用·· 18
3.2.1 加快国有商业银行改革，发挥其对民营企业融资的主渠道功能····· 18
3.2.2 提高银行的信贷风险管理水平···························································· 19
东北大学硕士学位论文 目录
-V-
3.2.3 尽快准入和发展民营银行···································································· 21
3.2.4 建立健全民营企业的担保体系···························································· 22
3.2.5 推进商业银行利率市场化···································································· 24
3.3 疏通民营企业直接融资渠道,创立多层次的资本市场································· 25
3.3.1 消除民营企业在主板市场上市融资的歧视性待遇···························· 25
3.3.2 积极为民营企业在二板市场上市创造条件········································ 25
3.3.3 发展和规范风险投资··········································································· 27
3.4 培育民营企业融资支持的社会环境······························································ 30
3.4.1 政府对民营企业予以积极支持···························································· 30
3.4.2 加强民营企业金融支持的法律法规建设············································ 31
3.4.3 强化信用制度，确保金融安全···························································· 31
3.4.4 建立民营企业金融支持的社会化服务中介体系································ 33
结 论·······················································································································34
论文注释····················································································································35
参考文献····················································································································36
致 谢·······················································································································39
目 录
-IV-
目 录
声 明························································································································· I
摘 要······················································································································· II
ABSTRACT ············································································································· III
目 录······················································································································ IV
引 言·························································································································1
第一章 民营企业的发展及其面临的融资瓶颈·························································2
1.1 民营企业的发展及其在国民经济中的重要作用············································ 2
1.1.1 中国民营企业的内涵············································································ 2
1.1.2 民营企业在国民经济中的重要地位和作用············································ 2
1.2 民营企业发展的融资瓶颈··············································································· 4
1.2.1 民营企业的融资现状············································································· 4
1.2.2 融资难对民营企业发展的束缚······························································ 5
第二章 民营企业融资面临的主要障碍·····································································6
2.1 民营企业自身的障碍······················································································· 6
2.1.1 民营企业大多为中小企业，资产少，负债能力有限·························· 6
2.1.2 企业市场竞争能力弱，稳定性差·························································· 6
2.1.3 民营企业融资的单位成本高·································································· 7
2.1.4 民营企业与银行之间信息不对称严重·················································· 7
2.1.5 部分民营企业信用意识不强，拖欠逃废债务严重······························ 7
2.2 间接融资渠道的障碍······················································································· 8
2.2.1 国有金融体制对国有企业的长期金融倾斜·········································· 8
2.2.2 银行信贷风险管理水平不高,排斥给民营企业贷款····························· 9
2.2.3 信贷市场高度垄断,民间金融机构缺乏··············································· 10
2.2.4 民营企业寻求贷款抵押和担保不易···················································· 11
2.3 直接融资渠道的障碍····················································································· 12
2.3.1 民营企业直接融资存在制度性障碍···················································· 12
2.3.2 我国的风险投资尚属起步，极不完善················································ 12
2.3.3 现行的资本市场层次太少···································································· 14
第三章 解决民营企业融资难的对策·······································································15
3.1 民营企业自身的完善和发展是解决融资困难的根本出路所在·················· 15
3.1.1 建立规范的现代企业制度···································································· 15
3.1.2 增强信用意识，加强信用管理，构建良好的银企关系···················· 16
3.1.3 进行产业结构调整，走专业化、规模化、优质化的发展道路········· 16
3.2 加快金融体制改革,增强各类金融机构对民营企业融资的信贷支持作用·· 18
3.2.1 加快国有商业银行改革，发挥其对民营企业融资的主渠道功能····· 18
3.2.2 提高银行的信贷风险管理水平···························································· 19
东北大学硕士学位论文 目录
-V-
3.2.3 尽快准入和发展民营银行···································································· 21
3.2.4 建立健全民营企业的担保体系···························································· 22
3.2.5 推进商业银行利率市场化···································································· 24
3.3 疏通民营企业直接融资渠道,创立多层次的资本市场································· 25
3.3.1 消除民营企业在主板市场上市融资的歧视性待遇···························· 25
3.3.2 积极为民营企业在二板市场上市创造条件········································ 25
3.3.3 发展和规范风险投资··········································································· 27
3.4 培育民营企业融资支持的社会环境······························································ 30
3.4.1 政府对民营企业予以积极支持···························································· 30
3.4.2 加强民营企业金融支持的法律法规建设············································ 31
3.4.3 强化信用制度，确保金融安全···························································· 31
3.4.4 建立民营企业金融支持的社会化服务中介体系································ 33
结 论·······················································································································34
论文注释····················································································································35
参考文献····················································································································36
致 谢·······················································································································39