3
Research on the Risk of Private Lending
Financing in SMES
A Dissertation Submitted to
the Graduate School of Henan University
in Partial Fulfillment of the Requirements
for the Degree of
Master of Engineering Science
By
Zhou,yadong
Supervisor: Prof.Wang,xingyu
June,2018关于学位论文独创声明和学术诚信承诺
本人向河南大学提出硕士学位申请。本人郑重声明：所呈交的学位论文是本人在导
师的指导下独立完成的，对所研究的课题有新的见解。据我所知，除文中特别加以说明、
标注和致谢的地方外，论文中不包括其他人已经发表或撰写过的研究成果，也不包括其
他人为获得任何教育、科研机构的学位或证书而使用过的材料。与我一同工作的同事对
本研究所做的任何贡献均已在论文中作了明确的说明并表示了谢意
在此本人郑重承诺：所呈交的学位论文不存在舞弊作伪行为，文责自负
学位申请人（学位论文作者）签名：
201年 月 日
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学位获得者（学位论文作者）签名：
201 年 月 日
学位论文指导教师签名：
201 年 月 日
I
摘 要
随着改革开放的深入推进，市场经济逐渐占据主导地位，伴随而来的是民营中小企
业的发展壮大。但长期以来，由于金融抑制、信息不对称原因中小企业一直难以得到正
规金融机构的资金支持，中小企业把融资的视角转向了民间借贷。民间借贷是独立于正
规商业银行之外的金融形式，对中小企业和居民个人融资发挥了重要作用。但由于民间
借贷具有隐蔽性、高利率等特点，导致对民间借贷的监管很困难，进而导致企业借贷过
程的风险加大，有时中小企业在进行借贷的同时却忽视了其中的风险，甚至导致资金链
的断裂。文章对中小企业运用民间借贷融资产生的风险进行分析，以企找到相应的对策
措施来应对风险的发生。针对这个问题文章通过文献分析法和案例分析法，将国内外民
间融资文献、理论予以阐述、分类，并对获得的成果进行评述，对其中的不足进行指出，
文章描述了民间借贷的现状及通过这种融资方式给企业带来的风险，研究分析了民间借
贷如何导致了中小企业的融资风险，最后根据融资风险的原因分析，分别从民间借贷、
企业、政府的层面，对公司和民间借贷提出了策略和建议。本文主要有三个贡献，第一，
与以往研究不同的是本文把研究的重点放到了中小企业进行民间融资的风险防范上。第
二，对某一中小企业进行深入的研究，合理运用民间借贷资金，实现企业市场价值的有
效提升。第三，给出了民间借贷的风险防范措施，具有很强的操作性
关键词：中小企业，民间借贷，风险及防范
III
ABSTRACT
With the deepening of reform and opening up, the market economy gradually occupies a dominant
position, accompanied by the development and growth of private SMES. But for a long time, due to
financial repression and information asymmetry, SMES have been unable to get financial support from
formal financial institutions, and SMES have turned their financing perspective to private lending. Private
lending is a financial form independent of formal commercial Banks and plays an important role in the
financing of SMES and residents. But as a result of the folk lending has the characteristics of concealment,
high interest rates, lead to the regulation of private lending is difficult, leading to the risk of corporate
borrowing process, sometimes lending to small and medium-sized enterprises in while ignore the risks, and
even lead to capital chain rupture. This paper analyzes the risks caused by SMES use of private lending and
financing, so that enterprises can find corresponding countermeasures to deal with the risks. Aimed at the
problem in this paper, through literature analysis and case analysis, the domestic and foreign literature, folk
financing theory discussed, classification, and summarizes achievements obtained and the lack of points out,
describes the present situation and this kind of financing way of private lending to the risks of enterprise,
research and analysis how the folk lending to the small and medium-sized enterprise financing risk, finally
according to the analysis of the causes of the financing risk, respectively from the level of private lending,
businesses, government, for the company and private borrowing strategy and Suggestions are put forward.
This paper has three main contributions. First, different from previous studies, this paper focuses on the risk
prevention of private financing by SMES. Secondly, we should conduct an in-depth study on a small and
medium-sized enterprise, reasonably use the private loan funds, and realize the effective improvement of
enterprise market value. Third, the risk prevention measures of private lending are given, which have
strong operability.
KEY WORDS: Private small and medium enterprise,Private borrowing,Risk and prevention。