摘要
中小企业作为国民经济的重要组成部分，在促进经济增长、技术创新和就业吸纳方面发挥着不可替代的作用，但其融资难、融资贵问题长期制约着企业的发展。本研究以优化中小企业融资渠道选择与降低融资成本为目标，基于多维度数据构建了中小企业融资行为分析框架，并结合实证研究方法探讨了不同融资渠道对企业财务绩效的影响机制。研究采用问卷调查与案例分析相结合的方式，选取了300家具有代表性的中小企业作为样本，深入剖析了企业在融资过程中的决策逻辑及其对融资成本的敏感性。结果表明，多元化融资渠道的合理配置能够显著改善中小企业的资金获取效率并有效降低综合融资成本；同时，企业信用水平、行业属性及区域经济环境等因素对融资渠道的选择具有重要影响。本研究创新性地提出了基于动态权衡理论的融资策略优化模型，为中小企业提供了科学的融资决策依据，也为政策制定者完善金融支持体系提供了参考。研究表明，通过强化信用体系建设、推动金融科技应用以及优化政策扶持力度，可以进一步缓解中小企业的融资困境，从而为其可持续发展创造有利条件。
关键词：中小企业融资；融资渠道优化；财务绩效影响；动态权衡理论；信用体系建设
Abstract
Small and medium-sized enterprises (SMEs), as a critical component of the national economy, play an irreplaceable role in promoting economic growth, technological innovation, and employment absorption. However, their development has long been constrained by difficulties in accessing financing and high financing costs. This study aims to optimize the financing channel selection for SMEs and reduce their financing costs. A multi-dimensional data-based analytical fr amework for SME financing behavior is constructed, and the impact mechanisms of different financing channels on corporate financial performance are explored using empirical research methods. By combining questionnaire surveys with case analysis, this study selects 300 representative SMEs as samples to thoroughly examine the decision-making logic of enterprises during the financing process and their sensitivity to financing costs. The results indicate that the rational allocation of diversified financing channels can significantly enhance the efficiency of capital acquisition for SMEs and effectively lower overall financing costs. Moreover, factors such as enterprise credit levels, industry attributes, and regional economic environments have important influences on the choice of financing channels. Innovatively, this study proposes a financing strategy optimization model based on dynamic trade-off theory, providing SMEs with a scientific basis for financing decisions and offering policymakers references for improving the financial support system. The findings suggest that strengthening credit system construction, promoting the application of fintech, and optimizing policy support can further alleviate the financing challenges faced by SMEs, thereby creating favorable conditions for their sustainable development.
Keywords：Sme Financing; Financing Channel Optimization; Financial Performance Impact; Dynamic Trade Off Theory; Credit System Construction
目 录
摘要 I
Abstract II
一、绪论 1
(一) 中小企业融资问题的背景与意义 1
(二) 国内外研究现状分析 1
(三) 研究方法与技术路线 1
二、融资渠道选择的影响因素分析 2
(一) 中小企业融资渠道的类型与特征 2
(二) 内部资金与外部融资的权衡 3
(三) 影响融资渠道选择的关键因素 3
三、融资成本构成与优化路径探讨 4
(一) 融资成本的主要构成要素 4
(二) 不同融资方式的成本比较分析 5
(三) 降低融资成本的可行策略 5
四、实证研究与案例分析 6
(一) 数据来源与研究设计 6
(二) 融资渠道选择的实证分析 6
(三) 融资成本优化的案例探讨 7
结 论 8
参考文献 9
