CAJ | 학술논문

本研究对西部小微企业对接产业转移过程中存在的金融缺口问题进行了理论阐述，并以221家小微企业为样本，通过结构方程模型进行了实证分析。研究表明：小微企业在对接产业转移过程中，具备较好的资金融通能力比具备产业承接能力更为重要，其中，当前影响小微企业融资能力的因素依次为信用等级、自有资本和经营状况。这与理想的配对融资思路相背离，为此，需要从直接融资、间接融资和金融环境三个方面进行金融创新。
본연구대서부소미기업대접산업전이과정중존재적금융결구문제진행료이론천술，병이221가소미기업위양본，통과결구방정모형진행료실증분석。연구표명：소미기업재대접산업전이과정중，구비교호적자금융통능력비구비산업승접능력경위중요，기중，당전영향소미기업융자능력적인소의차위신용등급、자유자본화경영상황。저여이상적배대융자사로상배리，위차，수요종직접융자、간접융자화금융배경삼개방면진행금융창신。
The funding gap has become the main bottleneck of the Western small micro-enterprise industrial transfer. In addition to resource-based monopoly industries, The western small micro-enterprise mainly distributed in the processing of agricultural products, machinery manufacturing, pharmaceuticals, building materials, transpor- tation, trade flows, cultural tourism, catering and entertainment, information services industry, is the key to ease the employment pressure. However, the resource monopoly industries enterprises and local small and micro enter- prises in the industry on the link does not close, and small micro-businesses due to lack of resource endowment support will be lack of sustained growth momentum until self-development to a certain extent. The long term, this development does not solve the problem of local economic endogenous development. To solve this endogeneity prob- lem, we need to address the problem of self-development and capital facilities of local micro-enterprises. The success of Western small micro-enterprise industrial transfer is decide by the two aspects of direct relation- ship. On the one hand, it is closely related to the ability to transfer, and mainly in small micro-enterprise develop- ment it is integrated in the docking industry chain and mainly with small micro-enterprise policy environment in which the operating environment, as well as a small micro-enterprise of industry-related resources ; the other hand, the docking is closely related to the financing of small and micro enterprises, it is contacted Its own capital, credit rating and operating conditions. To this end, the author will lock the transfer of industry from small micro-enterpri- ses on docking capability and financing ability, and analyzes small micro-enterprise development issues in the trans- fer process of the docking industry. Taking 221 small micro-businesses as a sample, this study conducts an empirical analysis of the financial gap in the transfer process by the structural equation model of small micro-enterprises docking industry. The structural framework mainly settle the ability of small micro-enterprises docking capabilities and the ability of financing. Doc- king industrial transfer of small micro-enterprises docking ability is characterized by financing policy, business envi- ronment and industry resources; small micro-enterprise financing capacity is characterized by the enterprise＇s own capital, credit rating and operating conditions. The model constructed the path of relations between the ability to docking industrial transfer of small micro-enterprise and small micro-enterprises financing ability, between the abili- ty to docking industrial transfer of small micro-enterprise and small micro-enterprises performance, between small micro-enterprises financing ability and performance. Mainly through empirical analysis the following main conclusions ：（ 1 ） The western small micro-enterprises ex- ist the financial gap in the process dustrial micro-enterprises, such as of docking the industrial transfer. The authors selected the western undertake in- nonferrous metallurgy and equipment manufacturing industry in Lanzhou, metal- lurgy and salt chemicals in Xining, the equipment manufacturing and tourism in Xi＇an, beverages and foodstuffs and machinery and metallurgy industry in Chengdu, and other industries to verify this. Through the fit index of the empirical results, the model has achieved good results, and corroborates the basic judgment. （2） Small micro-en- terprises in the process of docking the transfer of industries, companies have better financing capacity more impor- tant than capacity to docking industrial transfer. From the results of the analysis of the sample enterprises, the abil- ity of small micro-enterprise docking industry transfer contributions to corporate performance was O. 362, the contri- bution of small micro-enterprise financing capacity of O. 239. This result reflects the western overly biased in favor of resource-based state-owned large enterprises in the process of industries to relocate. （3） Factors affecting the in- dustrial transfer of small micro-enterprise docking order is business environment, financing, policy and industry re- sources ; factors affecting small micro-enterprise financing followed by the credit rating, equity capital and operating conditions. This deviates from the ideal pairing financing ideas.