中小企业融资渠道中英文对照外文翻译文献

1、中小企业融资渠道中英文对照外文翻译文献中小企业融资渠道中英文对照外文翻译文献(文档含英文原文和中文翻译)原文：The areas of SME financing channels: an overviewIn all countries, SMEs are an important source of economic growthand create jobs. In addition, these companies through their dynamism andflexibility, the power of innovation and development.The res

2、earch method is to start from the literature to highlight theimportance of the theme of our research. This paper analyzes the data andstatistics based on mainly by the World Bank survey, small andmedium-sized private enterprises in Romania by some empirical research.According to the method used, and

3、 pointed out the importance offinancing of SMEs and enhance the public bodies concerned about,especially the measures taken to improve financial development.中小企业融资渠道中英文对照外文翻译文献2.the literature A popular academic literature on the financing channels of SMEs,has witnessed a lot of research to solve th

4、is problem.Countless research studies have indicated that financing channels isa critical obstacle in the growth and development process, especially insmall and medium enterprises.Through Baker Dumont reggae - Ke Lute, Ivan, and Marca SmokinPopovich (2004) research, reflecting the fundamental factor

5、s of 10 000enterprises from 80 countries mainly depend on the financing ofenterprises. Therefore, the relationship between the study highlights thecorporate finance and its characteristics such as age, size and structure ofproperty rights. From this perspective, the authors found that the smallsize

6、of the young company, and face greater obstacles when they seekfinancial resources.The iResearch Dick Mei Leke and Salta (2011) analysis ofmacroeconomic and institutional factors affecting SME financing loansthrough the statistical data found. In other similar studies, the authorsfound a positive co

7、rrelation between the overall economic development(a measure of per capita income) and financial development (measured byprivate lending ratio of gross domestic product), on the other hand, thelevel of SME financing is the opposite. In addition, the authors show thatthe level of financing for SMEs d

8、epends on the legal structure and overallbusiness environment.3.in in In general, access to financial products or financial services orfinancial inclusion assumes that there is no trade barriers to the use offinancial products or services, regardless of whether these barriers ornon-related pricing (

9、Dumont reggae - Ke Lute, Baker, and Honorine root2008:2). Therefore, to improve this means of access means increasing thedegree of financial products or financial services at a fair price to中小企业融资渠道中英文对照外文翻译文献everyone.Enterprise does not use financial products or services can be dividedinto several

10、categories, their identification is necessary, in order to takethe necessary measures to improve their financing channels. Therefore,on the one hand, enterprises obtain financing, the financial products andservices, but do not use them because they do not have a viableinvestment projects. On the oth

11、er hand, it can distinguish betweennon-voluntary refuse corporate Although these business needs, but nothave access to financial services. The status of independent corporatefinance or financial services in some companies do not earn enoughmoney or safeguards required by financing institutions and t

12、herefore havehigher credit risk. At the same time, when some companies in need offunding, financial and banking institutions involved too costly and cannot agree to financing. Finally, in the context of the enterprise refused toappear over-priced financial products or services and financial products

13、or services that meet their requirements.Financing channels for enterprise development and the efficientallocation of funds essential. However, compared with large enterprises,SMEs seeking finance is facing many difficulties, because of severalreasons, including: the judicial and legislative structu

14、re of the instabilityand imperfect, it does not support the enterprises in need of financing andfunding the relationship between; part of the funding and corporateinformation is incomplete or even lack of information, which hinders thenormal and efficient development of relations between enterprises

15、 andproviders of finance; especially in the young company, the lack of credithistory and guarantees the creditors, and sometimes limits the range offinancial products that can be used.The number of surveys, especially the World Bank stressed that thefinancing is one of the biggest obstacle to good d

16、evelopment and growthof the SME. For example, the World Bank in the 2006-2009 survey found中小企业融资渠道中英文对照外文翻译文献that 31% of the worldwide study of corporate finance is a major obstacleto the current implementation, and even higher proportion of youngcompany in the 40% of cases up to three years of expe

17、rience (Chavez, ktBoer and Ireland 2010:1). In addition, a series of global surveys,including the information provided by the World Business EnvironmentSurvey show that SME financing transaction costs is the main obstacle toenterprise development.4.SME bank financing difficulties and support measure

18、sIn most countries, especially in countries with bank-orientedfinancial system, the main source of external financing for SMEs by bankloans. Therefore, this type of loan is crucial to the development of SMEs.However, the survey showed, compared to the SMEs and largeenterprises are using the new inve

19、stment in the small extent of bankfinancing.As we mentioned, the use of financial products is determined bysupply and demand. It is therefore important to understand why the SMEsuse bank financing to a small extent only. In this regard, some studies(Banerjee and Duflo: 2004) has shown that the main

20、reason for the supply,because every time when SMEs are able to obtain loans, they use it toincrease production. This behavior is more proof of financing is animportant factor in the development of enterprises. In addition, in thecontext of the current global financial crisis, the declining availabil

21、ity ofbank loans and limited financing opportunities for SMEs. Therefore, it isthe main problem facing small and medium enterprises.October 29, 2010, this survey of SMEs in Romania highlights themain problems faced by SMEs and banks. Therefore, 82% of theinterviewed entrepreneurs obtain bank financi

22、ng is very difficult, mainlybecause of excessive bureaucracy, unreasonable high demand, highinterest rates, rigid bank credit indicators, as well as many types ofcommission and expenses. In addition, more than 61% of SME中小企业融资渠道中英文对照外文翻译文献entrepreneurs and managers reporting banks lack of transparen

23、cy (hiddencosts, lack of communication channels, etc.), there is no real consultation(using the standard contract, the bank refused to modify or complete thecredit contract, etc.) and banks do not legitimate or misuse of the terms ofthe contract (for example, perform the unauthorized transaction acc

24、ountsor bank fraud). Understanding this knowledge to take measures to supportand promote SME financing.Improve SME financing is still cause for concern, but also national,European and international facing a challenge. For example, in the EU,through the implementation of the new measures established

25、by the SmallBusiness Administration for Europe to improve the financing channels forSMEs, by reducing the return of the structural funds requirements topromote the access of small and medium enterprises, the establishment ofthe Credit Ombudsman to promote small and medium-sized enterprisesand dialog

26、ue between the credit institutions, to avoid the double taxationof the tax legislation, which will hinder the international venture capitalplays an important role.In particular, empirical research, emphasizing the impact of thedegree of financial development of a country is essential that the level

27、ofdevelopment of the SME financing. Therefore, a series of measures tosupport SMEs to obtain financing, to ensure the efficient development ofthe countrys financial, which will ensure greater availability of corporatefinance. Specifically, the authorities should take measures commonlyused to measure

28、 the degree of financial development in the seven pillars,namely, the institutional environment, business environment, financialstability, banking and financial services, non-bank financial services,financial markets and access to finance.5 .ConclusionEffective financing for SMEs to create new busin

29、ess is of greatsignificance, and existing growth and development of enterprises, while中小企业融资渠道中英文对照外文翻译文献promoting the countrys economic and social development. In addition, inthe case of the economic crisis, SMEs contribute to restoring the nationaleconomy, so it is particularly important to suppor

30、t SME financing.However, most of the survey report stressed, always the financingchannels of SMEs is one of the most important factor to affect itsoperation and development.SMEs trying to get the necessary financial resources to facedifficulties related to the entrepreneurs and the economic environm

31、ent ofeach country, as well as existing legal and institutional structure. Toalleviate these difficulties, the measures taken by public authoritiesshould focus on improving the financial development and to ensure thatthe corporate finance and economic growth, greater effectiveness.In various countri

32、es, including Romania, the decline on theavailability of SME financing, or even the lack of statistical data, webelieve that policy makers need to focus on and monitor a series ofimportant indicators, depending on the size of the SMEs, experience andindustry events share of its loans, which will ben

33、efit the public authorities,creditors and investors.中小企业融资渠道中英文对照外文翻译文献原文来自罗马安吉拉 中小企业的融资渠道的领域:概述（奥拉迪亚大学：经济科学，2011 年第一卷第一期，431-437）摘要通过中小企业在创造附加值和新的就业岗位中的贡献,使它在国获得融资渠道往往是作为一个主要障碍部署和扩大他们的活动。的一系列措施,以支持中小企业获得融资。关键词：中小企业，融资渠道，融资约束，银行融资，支持措施中小企业的融资渠道的领域:概述1.介绍本文的研究方法采用从文献入手以突出我们研究主题的重要性。本文分析了基于主要由世界银行的调查提供的数据和统计,在罗马尼融发展采取的措施。中小企业融资渠道中英文对照外文翻译文献关于中小企业的融资渠道的一个热门的学术文献,见证了大量解决这样的问题的研究。无数的调查研究指出,融资渠道是企业的成长与发展过程中的一个至关重要的阻碍，特别是在中小企业。通过贝克、迪蒙瑞格-克鲁特、伊万和马卡斯莫维奇(2004)调查研究，反映了来自 80 个国家的 10000 家企业的根本因素主要取决于面临更大的障碍时，