四川大学学报：哲学社会科学版
四川大學學報：哲學社會科學版
사천대학학보：철학사회과학판
Journal of Sichuan University(Social Science Edition)
2014年
3期
97~103
,共null页
小微企业 融资 合会 交易费用 有效合约治理
小微企業 融資 閤會 交易費用 有效閤約治理
소미기업 융자 합회 교역비용 유효합약치리
small ＆ micro businesses; financing; ROSCA （Rotating Savings and Credit Association）;transaction cost; effective contract management
建立在地缘、血缘等基础上的民间借贷在满足小微企业金融服务需求时，以较低的交易成本实现了对贷款有效的事前甄别及事后监督，在克服信息不对称方面具有明显优势，表现出较低的违约率。组织化程度较低的民间借贷由于信息甄别和利率发现作用对缓解小微企业融资难更具有现实意义，规范民间借贷发展应成为产权多元化金融制度安排的选择之一。
建立在地緣、血緣等基礎上的民間藉貸在滿足小微企業金融服務需求時，以較低的交易成本實現瞭對貸款有效的事前甄彆及事後鑑督，在剋服信息不對稱方麵具有明顯優勢，錶現齣較低的違約率。組織化程度較低的民間藉貸由于信息甄彆和利率髮現作用對緩解小微企業融資難更具有現實意義，規範民間藉貸髮展應成為產權多元化金融製度安排的選擇之一。
건립재지연、혈연등기출상적민간차대재만족소미기업금융복무수구시，이교저적교역성본실현료대대관유효적사전견별급사후감독，재극복신식불대칭방면구유명현우세，표현출교저적위약솔。조직화정도교저적민간차대유우신식견별화리솔발현작용대완해소미기업융자난경구유현실의의，규범민간차대발전응성위산권다원화금융제도안배적선택지일。
By analyzing the transaction cost and contract management mechanism of folk finance, this article explores the effectiveness of folk financing in lending to micro and small businesses. The research results show that private lending based on affinity relationship and land-sharing feature can realize the efficient discernment and monitoring before and after the lending with lower transaction cost in lending to micro and small businesses, and private lending has lower default rate and obvious advantages in overcoming the information asymmetry. Therefore, because of its functions in information discernment and interest discovery, private lending featured by lower level of systematization is of more practical significance to tackle the financing difficulties of micro and small businesses, and regulating folk finance should also be one choice of the property right diversification of financial system in China.
