银行与中小企业的关系

CONTENTS

CONTENTS.....................................................................................................................

I

LIST

OF

TABLES...........................................................................................................

V

LIST

OF

FIGURES........................................................................................................

VI

LIST

OF

ABBREVIATIONS..........................................................................................

VII

DECLARATION..........................................................................................................

VIII

Chapter

One

-

Introduction

to

the

Thesis.........................................................................

1.1.

Introduction.......................................................................................................

1.2.

Understanding

SMEs

in

China............................................................................

1.3.

Central

government

policy

in

China

and

how

it

influences

SME

lending..............

1.4.

Research

aim......................................................................................................

1.5.

Research

objectives.............................................................................................

1.6.

The

approach

to

the

study..................................................................................

1.7.

Methodology.......................................................................................................

1.8.

Structure

of

the

thesis.........................................................................................

Chapter

Two

-

Research

Background

and

Literature

Review...........................................

2.1.

Introduction.....................................................................................................

2.2.

Research

Background........................................................................................

2.2.1.

The

development

of

the

SME

sector

in

China...........................................

2.2.2.

The

development

of

the

banking

sector

in

China......................................

2.2.3.

The

relationship

between

the

banks

and

SMEs

during

1978-2012.............

2.3.

Literature

Review.............................................................................................

2.3.1.

Relationship

Marketing...........................................................................

2.3.2.

Relationship

banking..............................................................................

2.3.3.

SME

–

Bank

relationships.......................................................................

2.3.4.

Social

indicators

which

could

be

used

to

evaluate

SMEs

and

SME

owners

2.3.5.

Credit

evaluation

systems

in

the

West

and

in

China.................................

2.4.

The

reasons

for

the

difficulties

which

SMEs

experience

in

obtaining

loans..........

2.4.1.

Obstacles

to

bank

lending

to

SMEs..........................................................

2.4.2.

An

analysis

of

the

obstacles......................................................................

2.5.

Summary..........................................................................................................

Chapter

Three

-

Qualitative

Methodology

and

Interview

Design......................................

3.1.

Introduction.....................................................................................................

3.2.

The

research

methodology

-

a

mixed

methodology.............................................

3.3.

Rationale

for

qualitative

research......................................................................

3.4.

The

data

collection

approaches

and

process.......................................................

3.5.

The

Sample

and

Questions

for

the

interviews

with

the

bank

managers...............

3.6.

Two

pilot

interviews

with

lending

bankers.........................................................

3.6.1.

Profile

of

the

two

participants

in

the

pilot

interviews...............................

3.6.2.

Key

points

gathered

from

the

pilot

interviews..........................................

3.6.3.

Revision

of

the

interview

structures.........................................................

3.7.

The

execution

phase

of

the

interviews................................................................

3.8.

Summary..........................................................................................................

Chapter

Four

-

Analysis

of

the

Interviews.......................................................................

4.1.

Introduction.....................................................................................................

4.2.

Key

areas

of

the

research...................................................................................

4.3.

Overview

of

the

theory......................................................................................

4.4.

Profile

of

the

interviews................................................................................

4.4.1.

Coding

of

participants.............................................................................

4.4.2.

Recording

and

transcription....................................................................

4.4.3.

Color

coding

of

paragraphs.....................................................................

4.5.

Overview

of

the

interviews

with

the

bank

managers......................................

4.5.1.

Banking

structures

established

to

manage

SME

loans...............................

4.5.2.

Overview

of

the

lending

strategies

of

the

six

banks...................................

4.5.3.

Customized

lending

products

offered

by

the

banks..................................

4.5.4.

The

evaluation

process.............................................................................

4.6.

Seeking

target

clients

from

networks

-

criteria

developed

from

the

“Social

Capital”

identified

by

the

bank

managers

(1)...........................................................................................................

4.6.1.

Introduction............................................................................................

4.6.2.

Network

-

The

business

circle：............................................................

4.6.3.

Network

-

The

industry

association:......................................................

4.6.4.

Network

3----Supply

chain......................................................................

4.6.5.

Network

4----Local

people

living

in

the

same

village

community..............

4.6.6.

Network

5----Migrant

groups..................................................................

4.6.7.

Network

6----SME

owners

who

are

long-term

clients

of

the

bank.............

4.6.8.

Network

7----

New

clients

introduced

by

existing

clients

of

the

bank........

4.6.9.

Network

8----

The

banks

provide

a

platform............................................

4.6.10.

Discussion:............................................................................................

4.7.

Visiting

SMEs’

plants

and

offices

----

criteria

developed

from

the

“Social

capital”

identified

by

the

bank

managers

(2)

4.7.1.

Factors

considered

by

lending

bankers

during

the

on-site

visit..................

4.7.2.

Discussion...............................................................................................

4.8.

Conduct

a

financial

investigation----“Economic

indicators”

provided

by

the

bank

managers,

on

which

the

banks

focus

their

attention...............................................................................................

4.8.1.

The

SME’s

“Current

account”...............................................................

4.8.2.

The

bills

or

receipts

provided

by

third

parties........................................

4.8.3.

The

intended

use

of

the

loan..................................................................

4.8.4.

The

collateral

being

provided

by

the

SME..............................................

4.8.5.

Continuous

profitability........................................................................

4.8.6.

Discussion..............................................................................................

4.8.7.

Summary..............................................................................................

4.9.

Interview

with

the

SME

owner

----

criteria

developed

from

the

“human

capital”

identified

by

the

bank

managers

(1)

4.9.1.

Factors

considered

by

the

lending

bankers.............................................

4.9.2.

Discussion:............................................................................................

4.10.

Investigation

of

the

SME

owner’s

reputation

through

his/her

partners

and/or

related

persons

----

criteria

developed

from

the

“human

capital”

issues

identified

by

the

bank

managers

(2).................

4.10.1.

Factors

considered

by

the

lending

bankers

in

the

investigation

of

the

owner’s

reputation

4.10.2.

Discussion:...........................................................................................

4.11.

The

lending

decision-making

process..............................................................

4.12.

Towards

a

theoretical

model

of

factors

influencing

loan

decisions

in

SME-Bank

relations

4.12.1.

Introduction........................................................................................

4.12.2.

Overview

of

Model

1............................................................................

4.12.3.

Characteristics

of

Model

2....................................................................

4.12.4.

Explanation

of

Model

2........................................................................

4.12.5.

The

relationship

between

Model

and

the

literature............................

4.13.

Findings

which

emerged

from

the

interviews

with

the

bank

managers........

4.13.1.

Important

factors

identified

from

the

interviews..................................

4.14.

Summary......................................................................................................

Chapter

Five

-

Quantitative

methodology

and

questionnaire

design...............................

5.1.

Introduction....................................................................................................

5.2.

Rationale

for

the

quantitative

research

methodology........................................

5.3.

Overview

of

the

analysis

of

the

interviews

with

the

bank

managers..............

5.3.1.

To

consider

the

cost

to

the

SME

owner

of

defaulting..............................

5.3.2.

To

determine

the

repayment

capability

of

the

SME

owner......................

5.3.3.

To

determine

the

SME

owner’s

willingness

to

repay

the

loan..................

5.3.4.

To

investigate

SME

owner’s

reputation..................................................

5.4.

Themes

of

the

questionnaire............................................................................

5.4.1.

The

first

draft

of

the

questionnaire........................................................

5.4.2.

The

second

draft

of

questionnaire

(the

first

pilot

survey)........................

5.4.3.

The

third

draft

of

questionnaire

(the

second

pilot

survey)......................

5.4.4.

The

fourth

draft

of

questionnaire

(the

third

pilot

survey).......................

5.5.

Methods

of

the

analysis

of

the

questionnaire

survey.........................................

5.6.

The

execution

phase

of

the

questionnaire

survey..............................................

5.7.

Summary........................................................................................................

Chapter

Six

-

Analysis

of

Questionnaire

Survey.............................................................

6.1.

Introduction....................................................................................................

6.2.

Key

areas

of

the

research

interest.....................................................................

6.3.

Profile

of

the

questionnaire

survey...................................................................

6.3.1.

Timeline................................................................................................

6.3.2.

The

participants....................................................................................

6.3.3.

Review

of

the

themes

of

the

questionnaire

survey...................................

6.4.

Overview

of

the

SME

owners

(Questionnaire

Theme

1:

To

gather

knowledge

of

the

SME

owners)

6.5.

Overview

of

SMEs

(Questionnaire

theme

2:

To

gather

knowledge

of

the

enterprises)

6.6.

The

relationship

between

the

banks

and

SMEs

in

the

context

of

credit

worthiness

(Questionnaire

theme

3:

To

gain

information

about

SMEs’

experience

in

securing

their

first

loan)............................

6.7.

Results

of

the

testing

of

the

loan

criteria

(Questionnaire

Theme

4:

To

test

the

criteria

gathered

from

the

bank

managers)..............................................................................................................

6.8.

Summaries

of

this

chapter...............................................................................

Chapter

Seven

-

Research

outcomes

and

implications....................................................

7.1.

Introduction............................................................................................

7.2.

Aim

and

objectives

of

the

research

study..................................................

7.3.

Overview

of

the

literature................................................................................

7.4.

Overview

of

the

research

design...............................................................

7.5.

Overview

of

the

Five-step

Model......................................................................

7.6.

The

characteristics

of

the

Five-step

Model........................................................

7.6.1.

The

Five-step

Model

focuses

on

the

process

of

evaluation,

whereas

most

of

the

Western

models

and

approaches

focus

on

the

evaluation

factors.........................................................................

7.6.2.

For

increasing

amounts

of

loans,

the

Five-step

Model

demonstrates

the

corresponding

increase

in

evaluation

factors;

whereas

the

Western

models

do

not

place

emphasis

on

the

evaluation

process

changing

in

accord

with

increasing

loan

amounts..................................................................................

7.6.3.

The

Five-step

Model

emphasizes

the

process

of

seeking

target

clients;

the

Western

theories

discuss

in

depth

how

Western

bankers

establish

relationships

with

SMEs

and

how

they

maintain

those

relationships

7.6.4.

The

Five-step

Model

demonstrates

that

the

banks

in

China

employ

economic

and

non-economic

criteria

in

the

evaluation

of

loans,

as

do

the

banks

in

the

West..............................................

7.6.5.

The

function

of

the

Five-step

Model

and

Western

models

is

the

same......

7.7.

The

theoretical

contribution

of

the

Five-step

Model.........................................

7.7.1.

Personal

relationship

&

Bank/SMEs

relationship....................................

7.7.2.

Five

steps

evaluation

&

social

and

economic

indicators...........................

7.7.3.

A

better

way

for

the

SME

owner

to

get

his

first

loan

was

by

asking

an

old/existing

client

of

the

bank

to

give

him

an

introduction...............................................................................................

7.7.4.

Augmenting

the

Five-step

Model............................................................

7.7.5.

Non-financial

criteria

used

by

banks

are

accepted

by

SME

owners.........

7.8.

The

implications

of

the

Five-step

Model...........................................................

7.9.

Implications

of

the

research

for

SMEs

in

applying

for

loans.............................

7.10.

Contribution

to

knowledge

regarding

policy

and

practice...............................

7.11.

The

limitations

of

the

research.......................................................................

7.12.

Future

research

agenda..................................................................................

LIST

OF

REFERENCES...............................................................................................

Appendix

1:

The

definition

of

SMEs.............................................................................

Appendix

2:

Preparation

for

interviews......................................................................

Appendix

3:

Introduction

to

bank

managers............................................................

Appendix

4:

Questionnaire

Questions...........................................................................

Appendix

5:回顾中国政府对银行的放权进程.............................................................