摘 要

民营经济是我国社会主义市场经济体系中的重要组成部分，广大民营企业在促进经济稳定增长方面发挥着重要的作用。但由于民营企业自身规模小，信用评价体系不健全从而造成信息不对称，以及民营企业自身资金需求量少频率高的特点，内部管理运行模式偏向家族化及管理水平不足的局限性，民营企业的融资模式主要被限制在银行借贷和民间借贷之间。融资的难与贵困扰民营企业的发展，拓宽民营企业的融资模式、创新融资方式尤为重要。

过去几年一度迅猛发展的互联网金融在资金需求、信用风险管理、直接融资等方面都高度吻合民营中下企业融资需求。凭借其信息高时效性，减少大量中间环节从而降低运营成本；利用互联网特点规避信息不对称的缺陷，诞生了网络借贷、众筹融资、银行 互联网等一系列全新的互联网金融模式，对民营中小企业借贷活动产生了较大促进作用。拓宽了融资渠道，降低了融资成本，并使融资活动更为灵活。

互联网金融时代同样也为企业带来了新的风险，道德风险、网络安全风险等都亟需法律法规监管，需要全社会共同建设优化。2018年作为互联网金融的代表P2P融资由于多种隐患因素的爆发，整体行业陷入停滞，法律监管逐步严格，行业发展进入严监管新时代。

浙江的民营企业数量大，市场发展成熟度高，在全中国具有很强代表性。而互联网金融公司如蚂蚁金服等在杭州布局广泛，是我国互联网金融的先行地区。在以浙江省为例研究互联网金融对于民营企业的融资影响的过程中发现，相当一部分的民营中小企业对于互联网金融有一定的了解，曾通过互联网金融进行融资。互联网金融便捷、门槛低的特点是其最看重的优势。但同时对于互联网金融安全性的担忧也不容忽视，未来发展还需行业持续监管，法律法规不断完善，避免漏洞。

互联网金融时代下，法律法规持续监管，信用评价体系不断完善是改善民营中小企业融资的外部核心条件。其自身也应该提高风险防控能力，从多角度改善自身缺陷。

关键词：互联网金融；民营中小企业；融资模式影响；浙江地区情况；信息不对称；

Abstract

Private economy is an important part of China's socialist market economy system. Private enterprises play an important role in promoting steady economic growth. But because of their own small private enterprises, credit evaluation system is not sound caused by asymmetric information, as well as private enterprise own capital demand less high frequency characteristics of the internal management operation mode to the limitations of family-based level co., LTD., private enterprises financing mode mainly confined to between bank lending and folk lending. Because of the difficulty in financing and the difficulty in financing the development of private enterprises, it is particularly important to broaden the financing mode and innovate the financing mode of private enterprises.

In the past few years, the rapid development of Internet finance in the capital needs, credit risk management, direct financing and other aspects are highly consistent with the financing needs of private enterprises. By virtue of its high timeliness of information, a large number of intermediate links are reduced to reduce operating costs; Taking advantage of the characteristics of the Internet to avoid the defects of information asymmetry, a series of new Internet financial models such as online lending, crowdfunding, banking and Internet were born, which greatly promoted the lending activities of private smes. It broadens financing channels, reduces financing costs and makes financing activities more flexible.

The era of Internet finance has also brought new risks to enterprises. Moral hazard and network security risk need to be supervised by laws and regulations, and the whole society needs to work together to build and optimize. In 2018, P2P financing, as a representative of Internet finance, was brought to a standstill due to the outbreak of various hidden dangers. The legal supervision was gradually tightened, and the industry entered a new era of strict supervision.

Zhejiang has a large number of private enterprises with high market development maturity, which is very representative of the whole China. Internet financial companies such as ant financial are widely distributed in hangzhou, which is the leading area of Internet finance in China. In the process of taking zhejiang province as an example to study the impact of Internet finance on the financing of private enterprises, it is found that quite a number of private smes have a certain understanding of Internet finance and have conducted financing through Internet finance. The convenience and low threshold of Internet finance are its most important advantages. However, at the same time, concerns about the security of Internet finance should not be ignored. The future development still needs to be continuously supervised by the industry, and laws and regulations should be constantly improved to avoid loopholes.

In the era of Internet finance, the continuous supervision of laws and regulations and the continuous improvement of credit evaluation system are the external core conditions to improve the financing of private smes. It should also improve its risk prevention and control ability and improve its defects from multiple perspectives.

Key Words：Internet finance; Private smes; Influence of financing mode; The situation in Zhejiang; Information asymmetry;

目录

目录 6

第1章 绪论 8

1.1 背景及研究意义 8

1.1.1 研究背景 8

1.1.2 研究意义 8

1.2 国内外研究综述 9

1.2.1 国外研究综述 9

1.2.2 国内研究综述 9

1.3 主要研究内容 10

1.4 主要研究方法 10

第2章 概念界定、互联网金融发展历程及理论基础 11

2.1 互联网金融概念综述 11

2.2 民营企业概述 11

2.3互联网金融在中国的发展历程及原因分析 11

2.4 相关理论综述 13

2.4.1 信息不对称理论 13

2.4.2 Stiglitz和Weiss的S-W模型 13

2.4.3融资顺序偏好理论 13

2.4.4企业金融成长周期理论 14

第3 章 民营企业融资受互联网金融的影响分析 14

3.1 民营企业传统融资模式 14

3.2 民营企业传统融资问题及成因 14

3.2.1 融资渠道单一，结构不合理 14

3.2.2 融资成本高、风险大 15

3.2.3 融资规模小、期限短 15

3.2.4 信用风险评估体系不健全 15

3.3 互联网金融高度吻合民营企业融资需求 16

3.4互联网金融背景下民营企业融资模式分析 16

3.2.1 P2P融资模式 16

3.2.2 众筹融资模式 17

3.2.3 大数据金融融资模式 17

3.2.4 互联网 银行融资模式 18

3.5 互联网金融对民营企业融资的影响 18

3.5.1 互联网金融带来的利好 18

3.5.3 互联网金融带来的风险 19

3.5.3 P2P融资模式的兴衰 20

第4章案例调查研究—浙江省民营企业融资问题调查 20

4.1 基本情况介绍 20

4. 2 调查问卷情况 21

4.3 浙江民营企业融资案例调查情况 21

4.3.1 企业基本情况 21

4.3.2 企业融资情况 23

4.3.3 互联网金融相关调查 24

第5章 互联网金融时代下的对策和建议 26

5.1 强化互联网金融平台合规化建设 26

5.2 完善民营企业信用评估体系 27

5.3 提升民营企业风险防控能力 27

参考文献 28

附录A：浙江省民营中小企业融资情况调查问卷 30

第1章 绪论

1.1 背景及研究意义

1.1.1 研究背景

互联网技术近年来高速发展，直接推动了互联网行业在近年来的崛起，深刻的影响改变着人们的工作生活以及行业的运行模式。金融行业作为国民经济发展的重要推手，随着互联网技术的发展，和互联网在近年来出现了重合部分即“互联网金融”行业。互联网金融行业作为互联网变革中的一个全新的高代表性的产物，一度成为极有“钱景”的行业。

自2013年以来，支付宝、京东、微信等平台广泛联手各大金融机构，推出互联网金融服务，如阿里的“余额宝”，京东“供应链金融”等。而后各种P2P平台以井喷的形式出现在公众视野中，较出名的“陆金服”、“人人贷”等。同时高速发展的众筹、消费金融、第三方支付等，极大地丰富了个人消费、企业的融资手段。但同时各类风险也不断集聚，监管滞后、信用风险等一系列问题逐渐暴露。互联网金融时代下，对各行业、社会的发展、监管部门的监督、资源的分配都提出了新的冲击和要求。