| 摘要: | 摘要
論文名稱：發展關係型融資模式可行性－以加入事務所為風險控管中介
校院名稱：國立中央大學 系所名稱：企業管理學系碩士在職專班
研究生：王銘志 指導教授：張東生、曹壽民
語文別：中文 論文頁數：65
自民國78年政府開放新設民營銀行之後，近年來金融業可謂進入高度競爭時代；各家銀行為搶食市佔，紛紛以削減利率為手段逼退對手，在游資充斥、國內績優大型企業有限之餘，銀行爛頭寸苦無出海口宣洩賺取利差，另一方面，一部分績優中小企業卻因規模、資訊不對稱、節稅或擔心資訊獨占之故，貸款成數不足甚或苦無融資管道的問題依然難解，無形中亦扼殺了台灣經濟活力，然而銀行目前承作之中小企業貸款卻又面臨風險居高不下，屢屢出現壞帳之窘境。
針對中小企業尋求融資常見問題已有多方研究跟書籍探討，而銀行對貸款給中小企業的疑慮大多出自資訊不對稱，為了解是否有模式可以消除前述兩層面之難題而催生出本篇研究；假若能發展諸如美國行之有年的關係型融資模式，該模式是否能增加中小企業籌資管道、機會？另外又能幫助金融業克服資訊不對稱疑慮，為此本篇研究對銀行端有權授信之經理人、會計師事務所負責人和中小企業財務主管進行半結構式訪談及問卷調查，希冀從這三方存異求同，為關係型融資模式的發展找出立足點。
經訪談及回收問卷後整理發現中小企業富有彈性跟活力的特點嶄露無遺，對於新型之授信模式皆能普遍接納，亦不擔心銀行據此而掌握主控權，銀行業跟事務所則相對囿於規章制度，雖樂觀看待卻認為難以成行，本研究整理出三方認知異同處，爾後如有推展關係型融資模式之可能性時，俾提供銀行日後進行授信決策分析及定價策略的參考。
關鍵詞：資訊不對稱、關係型融資、資訊獨占、競爭
Abstract
Since 1989 when the government opened the new private banks . The financial sector had developed in recent years into the era of highly competition . In order to snatch market share , banks had to cut interest rates as a trick to force back the opponent . In fact , hot money flood the domestic and blue-chip companies were limited , the bank found it’s hard to earn spreads . On the other hand , because of the scale , information asymmetry , tax savings or concerns information monopoly , a part of merit SMEs suffered insufficient number of loans or lead no way to get . It also stifled economic vitality of Taiwan . However , banks lent to SMEs had been taken to high risky and increased more non-profit loans .
Many books and researches have been discussed with SMEs seeking financing , and bank lending to SMEs' concerned mostly from asymmetric information . In order to understand whether there is a pattern can avoid to get into strait , It gives birth to this study . If we can develop relational financing model such as the United States for years , is that possible to increase SME financing pipeline opportunities ? It may help eliminate the information asymmetry concerns . For this study, the right side on the banks of the credit manager, accounting firms manager and SME finance director for semi-structured interviews and questionnaires , I wish to coordinate tripartite differences for developing the relational financing model . It may lead to find a consensus .
After finishing interviews and questionnaires , I found that SMEs have flexible dynamic characteristics . The credit for the new model have encountered generally accepted . And they don’t worry about bank accordingly master the relationship . On the contray , the banking sector and accounting firms manager is relatively caught with rules and regulations , although they found it difficult to make it but interestingly had optimistic view . This study generalizes tripartite differences or not . If someday someone can extend relational model of financing possibility , it serve to provide bank the decision analysis of lending to SMEs’ and future reference of pricing strategy.
Keywords: information asymmetry, relational financing, information monopoly and competition |
