小微企业一直存在融资难、融资贵难题，且银行的信贷数据表明小微企业获得的 金融支持明显不足，因此，开展小微企业信贷融资研究具有十分重要的现实意义。实 际的贷款业务中，银企间信息不对称现象的存在，使得银行采取“信贷配给”政策， 不愿意承担小微企业违约的风险。而银企信任有利于促进银企间建立紧密的关系，增 加贷款总量。因此，银企信任对小微企业获得融资非常重要，是银保监会等各部门颁 布的一系列政策（关于持续深化及提升银行等金融机构对小微企业金融服务质效）的 重要体现。但由于银企信任度不足，使得银企信任难以有效形成。若要有效提升小微 企业的融资获得率，需要系统地探究银企间的信任形成机制。 基于上述研究背景，本文的聚焦点为银企信任形成机制问题，以小微企业融资以 及信任的相关理论为基础，使用理论分析、实证分析相结合的方式实施研究。首先， 针对国内外相关文献的研究成果进行梳理，界定小微企业及银企信任等相关概念，以 理论为基础，联系银企信任实践进行问卷调查，初步了解江苏小微企业融资中的银企 信任现状。其次，基于银企信任合作中参与主体的行为决策与现有的研究成果开展理 论层面解析。先进行各主体行为策略选择的博弈分析以及银企信任度变化分析，再结 合相关研究成果进行全面系统的影响因素总结，从小微企业经营指标、小微企业主的 基本状况、银企关系及外部融资环境、以及小微企业信任感知度等多方面构建银企信 任形成机制的概念模型。再者，分别从初始信任阶段及持续信任阶段研究银企信任形 成机制的影响因素，运用SPSS软件对调研数据进行实证分析，探究各因素对银企信 任形成机制的影响，并对实证结果所表现出的现实问题进行分析。 综上研究得出以下结论：商业银行会根据小微企业的行为选择来修正对小微企业 的信任度，且担保机构的担保行为能有效增强银企信任度；初始信任阶段，银行会集 中于关注企业的贷款风险，且比较关注是否有担保机构担保；持续信任阶段，外部融 资环境会表现出更好的影响力，同时也应防范银行寻租行为。在此基础上，从提升小 微企业自身全面发展水平、推动银行等金融机构的小微企业信贷业务、改善外部融资 环境及鼓励多方主体建立及深化合作信任关系等方面提出对应建议，以期在多方协同 下共同促进银企信任形成机制的建立与发展。 关键词：小微企业；企业融资；银企信任；形成机制；影响因素 小微企业融资中的银企信任形成机制研究——以江苏省为例 II ABSTRACT Small and micro enterprises(SMEs) have always faced difficulties in financing and expensive financing, and the bank’s credit data shows that the financial support received by SMEs is obviously insufficient. Therefore, it is of great practical significance to carry out research on SMEs’ credit financing. In the actual loan business, the existence of information asymmetry between banks and enterprises has caused banks to adopt a ―credit rationing‖ policy, which is reluctant to bear the risk of default by SMEs. The trust between banks and enterprises is conducive to promote the establishment of a close relationship between banks and enterprises and increasing the total amount of loans. Therefore, banks and enterprises’ trust is very important for SMEs to obtain financing. It is an important manifestation of a series of policies promulgated by the China Banking Regulatory Commission and other departments (on the continuous deepening and improvement of the quality and efficiency of financial services for SMEs by banks and other financial institutions). However, due to insufficient trust between banks and enterprises, it is difficult to form trust between banks and enterprises effectively. To effectively increase the financing rate of SMEs, it is necessary to systematically explore the trust formation mechanism between banks and enterprises. Based on the above research background, the focus of this article is the problem of the trust formation mechanism of banks and enterprises, which is guiding by the relevant theories of SMEs’ financing and trust, and using a combination of theoretical analysis and empirical analysis to conduct research. First of all, the research results of relevant domestic and foreign relevant literature are sorted out, and related concepts such as SMEs and banks and enterprises’ trust are defined, and a survey is conducted based on the combination of SMEs financing theory and banks and enterprises’ trust practice design questionnaire to fully analyze the SMEs financing in Jiangsu banks and enterprises’ trust status; Secondly, based on the behavioral decision-making of banks and enterprises’ trust cooperation participants and existing research results, a theoretical analysis is performed. First, a game analysis of the choice of behavioral strategies of each entity and an analysis of banks and enterprises’ trust changes are conducted, and then related research is combined. Achieve a 江苏大学硕士学位论文 III comprehensive and systematic summary of the influencing factors, and build a conceptual model for banks and enterprises’ trust from SMEs’ business indicators, basic conditions of SMEs’ owners, the relationship between banks and enterprises, the external financing environment, and the perception of trust. In addition, the influencing factors of formation mechanism of banks and enterprises’ trust were studied from the initial trust stage and the continuous trust stage, and SPSS data analysis software was used to conduct empirical analysis on the influencing factors of banks and enterprises’ trust on the survey data. And analysis the real problems reflected by the empirical results. Based on the above research, the following conclusions are drawn: commercial banks will modify their trust for SMEs based on their behavior choices, and the guarantee behavior of guarantee institutions can effectively enhance the trust of banks and enterprises; during the initial trust stage, banks will pay attention to the loan risk of enterprises, and pay more attention to whether there is a guarantee agency guarantee; in the stage of continuous trust, the external financing environment will show a better influence, and at the same time, it should also prevent bank rent-seeking behavior. On this basis, it proposes targeted recommendations from the following aspects: improving the overall development level of SMEs, promoting the credit business for SMEs by banks financial institutions, improving the external financing environment, and establishing and deepening trust cooperation relationship with multiple parties, which is hoped that the establishment and development of the trust mechanism between banks and enterprises with the cooperation of multiple parties. Keywords: small and micro enterprises(SMEs); enterprise financing; trust between banks and enterprises; formation mechanism; influencing factors 小微企业融资中的银企信任形成机制研究——以江苏省为例 IV 目 录 第一章 引言......... 1 1.1 研究背景及意义.......... 1 1.1.1 研究背景............ 1 1.1.2 研究意义............ 2 1.2 国内外文献综述.......... 3 1.2.1 国外研究综述.... 3 1.2.2 国内研究综述.... 5 1.2.3 国内外文献研究述评....................... 8 1.3 主要研究思路、内容和方法..................... 9 1.3.1 研究思路............ 9 1.3.2 研究内容.......... 10 1.3.3 研究方法.......... 11 1.4 可能的创新之处........ 11 第二章 相关概念及基础理论 ......... 13 2.1 银企信任相关概念.... 13 2.1.1 信任的内涵...... 13 2.1.2 银企信任的概述............................. 13 2.1.3 小微企业的概念及其分类............. 14 2.2 小微企业融资及信任的相关理论........... 16 2.2.1 信息不对称理论............................. 16 2.2.2 信贷配给理论.. 17 2.2.3 关系贷款担保理论......................... 17 2.2.4 信任理论.......... 18 2.3 研究方法概述及本文应用....................... 18 2.3.1 博弈论及博弈分析概述................. 18 2.3.2 线性回归分析概述......................... 19 第三章 小微企业融资中的银企信任现状分析 ............ 21 江苏大学硕士学位论文 V 3.1 调查方案设计与实施 21 3.1.1 调查问卷设计.. 21 3.1.2 调查过程的组织实施..................... 21 3.2 小微企业融资中的银企信任现状分析... 22 3.2.1 小微企业弱质性使得银企信任难以有效建立............ 22 3.2.2 银企短期合作行为制约着长期信任机制的形成........ 23 3.2.3 担保力度不足不利于银企信任的建立与发展............ 24 3.3 本章小结.................... 25 第四章 小微企业融资中银企信任形成机制的理论分析 ........................... 26 4.1 小微企业融资中银企信任形成机制主体策略分析.............. 26 4.1.1 银企信任形成