CAJ | 학술논문

集群担保与中小企业财务危机之间的关系是政策制定者与企业家们所关注的焦点问题之一。依据长三角地区和珠三角地区中小企业的微观数据，建立面板数据模型，研究中小企业集群担保行为对其财务情况的影响。研究表明，集群担保有利于缓解中小企业的财务危机。回归结果表明，长三角地区集群担保对企业财务危机的缓解作用更明显。
집군담보여중소기업재무위궤지간적관계시정책제정자여기업가문소관주적초점문제지일。의거장삼각지구화주삼각지구중소기업적미관수거，건립면판수거모형，연구중소기업집군담보행위대기재무정황적영향。연구표명，집군담보유리우완해중소기업적재무위궤。회귀결과표명，장삼각지구집군담보대기업재무위궤적완해작용경명현。
The relationship between cluster guarantee and financial crisis of small and medium -sized enterprises is one of the focuses which policy -makers and entrepreneurs are concerned.Based on the micro -data of SME in the Yangtze River Delta and Pearl River Delta,this paper analyzes the effects of SME cluster guarantee on their fi-nancial situations through the establishment of panel data model.The results show that cluster guarantee can effec-tively ease the financial crisis.In addition,the regression results show that the mitigation in Yangtze River Delta is more pronounced.