Research On the Influence of Financing Constraints on Corporate Performance: Based on The Perspective of Companies Appeared on The China's Small and Medium-Sized Board

Abstract

Under the background of economic globalization, China's economy has developed rapidly. Small and medium-sized enterprises occupy a growing proportion in the Chinese economy, and make a great contribution to the national economic development and people's livelihood employment. However, due to their small scale and other reasons, they are faced with the major problem of difficult and expensive financing in the process of development. This paper takes financing as the entry point, selects the data of China's small and medium-sized board listed companies from 2017 to 2022, and empirically confirms that financing constraints have a significant negative impact on the performance of small and medium-sized enterprises. At the same time, it analyzes the causes of financing difficulties and the social impact of financing difficulties. In view of the specific problems in financing by referring to the corresponding policies of the United States and Japan, this paper puts forward some suggestions and measures.