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| A Study on Financing Constraint and its Mitigation in Hi-Tec SMEs In the View of Supply Chain Financing |
| Yao Wangxin1,2,Xia Juan1,Sun Tingting1 |
| 1.School of Business, Anhui University, Anhui 230601,China；2.Graduate School, Chinese Academy of Social Sciences, Beijing 102488, China |
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Abstract The solution of enterprises financing constraints depends on financial innovation. With the theoretical analysis on relationship of financing constraints and asymmetric information, supply chain finance and information asymmetry, supply chain finance and financing constraints, tests effects underlying supply chain finance easing financing constraints was carried out. The results shows that technology oriented small and medium-sized enterprises(SMEs) faced more severe financing constraints, and were positive correlation to information asymmetry; supply chain finance could effectively ease financing constraints, and the mitigation effect was positive correlation to information asymmetry. The conclusions could provide empirical basis for improving the financing decision of Hi-Tec SMEs.
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Received: 07 July 2016
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Corresponding Authors:
Yao Wangxin
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