中国转型期的关系与非国有企业融资

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1、复旦大学博士学位论文中国转型期的关系与非国有企业融资姓名：杜庆军申请学位级别：博士专业：企业管理指导教师：俞樵20040430中国转型期的关系与非国有企业融资用合作中供应商是相对被动的，但是关系依然影响着商业信用的供求。供应商与客户们的关系越密切，商业信用的供给就越多，与最大客户的关系合作越好，客户拖欠的也就越少。非国有企业与其供应商的关系越密切，可以获得越多的商业信用。作者还发现关系因素对商业信用的影响在近期相对要明显。关键词：关系、非国有企业、融资、经济转型、利益相关者RelationsandFinancingofNone·-State-OwnedEnterprisesinChineseT

2、ransitionAbstract：ChinesetransitionfromPlannedEconomytoMarketEconomybeganin1978．Intheperiodoftransition，Chinesenone-state-ownedsectorgrowsfast，andhasmadegreatachievements，however，itisdifficultforChineseDone—state—ownedenterprisesfNsozs)tofinancefromfinancialinstitutionssuchasbankswhentheydevelop，whi

3、chputtoomanyNSOEsintofinancialdistress．arisewhenmarketsarenotcompleteorlawsarenotperfect．Economicagentslikemoreutilityorretum，andabhorrisk．Economicagentswilluserelationstoevaderiskoverperiodsandtospeculatewhenmarketsarenotcompleteorlawsarenotperfectorpeoplecan’tevaderisk．Relationssometimesarehelpful

4、forsocialwelfaretoacertainextent，andthecostofrelationsgrowsaccelerated，whenthecostovercomesthebenefitofthesocialwelfare，relationswillinducethedepravationofsocialwelfare．Therefore，weshouldinspirittheestablishmentsofrelationstoacertainextentandaVertthenegativeinfluenceofrelations．Intheperiodoftransiti

5、on，ChineseNSOEs’environmentisspecial．Chinesemarketsarefarlesscomplete，lawsystemisfarlessperfect，andfinancialsystemisfarlessdevelopedeither．Inthefaceoftheenvironment，ChineseNSOEshavechancesandlargemotivetoestablishrelationswiththeirstakeholders，andtofinancebyrelations．First，theNSOEswillestablishintim

6、aterelationswithgovernmentanditsofficerstohelpthegovernmentanditsofficerstorealizetheiraimssothattheenterprisescanwinhelpofgovernment，becausegovemmentstillhavetoomanykindsofpowers，controltoomanyresourcesandaffectthedistributionsofsocialwelfare；Second，theNSOEswillestablishintimaterelationswithfinanci

7、alinstitutessuchasbankstoeliminateasymmetrybetweenthemsothattheenterprisescangetcreditthroughthenormalfillancialchannels；Third．tlleNSOEswillestablishintimaterelationswiththeirsuppliersandcustomerssoth