中小企业基于网络借贷平台融资有效性的影响因素及路径分析【毕业论文】.doc

浙江理工大学硕士学位论文 摘要 随着我国经济的快速发展，中小企业在国民经济中的地位日益突出。因此， 中小企业融资难的问题也一直备受关注。互联网金融的兴起为其提供了一个新思 路——通过网络借贷平台进行融资。 通过对国内外学者的研究进行归纳总结，本文发现资金实力、授信情况、外 部增信和项目属性是影响融资有效性的主要因素，在此基础上提出了本文的四大 假设。本文选取积木盒子网站上的 978 个项目的 15 项指标作为样本，构建了结 构方程模型。运用 Amos 软件对模型进行了实证分析，验证本文假设，实证结果 显示：除授信情况外，企业资金实力、外部增信和项目属性对融资有效性的影响 路径均与假设一致；影响融资有效性的四大因子按重要程度从高到低排序依次是 外部增信、项目属性、授信情况和资金实力。考虑到论文的严谨性，本文利用多 元回归方法对结构方程模型进行辅助检验，结果具有较好的一致性。 最后，本文根据实证结果提出了相关对策建议。对融资企业而言，应妥善选 取担保企业、适当拆分授信额度、改善自身财务水平；对平台方而言，应严守第 三方中介底线、加强资金安全防护、增加融资项目类型、公开更多项目信息，使 平台可以长远稳定发展；对政府而言，应尽快落实相关政策、妥善处理问题平台、 严格进行平台监管。 关键词：网络借贷；资金实力；授信情况；外部增信；项目属性；融资有效性； 结构方程模型 I  浙江理工大学硕士学位论文 Abstract As rapid development of Chinas economy, small and medium-sized enterprises have become increasingly prominent in our economy. Therefore, the financing difficult of SMEs has also been of concern. The rise of Internet finance provides a new solution for this problem, SMEs andperson can financing via online lending. Overview of relevant studiesat home and abroad, this paper has summarized four main factors offinancing effectiveness, which is financial strength, credit status, external credit enhancement and project property. Further, we propose four hypothesis. By selecting 978 projects of Jimubox, which consist of 15 variables, this paper constructs the structural equation model(SEM).In order to verify the above hypothesis, we carry out empirical analysis using Amos. This study conclude thatseveral influence paths offinancing effectivenessare consistent with the hypothesis, which is financial strength, external credit enhancement and project property, except credit status. Among the four factors, the influence to financing effectiveness followed by  descending  sorting  is  external  credit  enhancement,project  property,  credit  statusandfinancial strength. Considering the rigor of the paper,we carry out auxiliary test using multiple regression, the result shows good consistency. Finally, we put forward suggestions according to the empirical result. For