Paper
Research on Collective Bond Financing of High-tech Small and Medium-sized Enterprises
- Authors:
- Kun Xu; Chen Li
- Abstract
- With the rapid development of High-tech SME clusters, the financing problems have become increasingly prominent. While the Collective Bond financing has met high-tech SMEs’ demand well. This paper applies literature research and comparative study analysis of the internal mechanism of High-tech SMEs Collective Bond Financing, based on Coordination Theory. By application of the data of “07 Zhongguancun Bond”, the first Collective Bond of China, analysis the negative effects that may exist are the cluster form, issuers screening, security system, building and other. On the conclusions proposals are put forward to optimize High-tech SMEs Collective Bond Financing, including perfect the screening mechanism of financing cluster formation process, build a sound financial cluster security institutions, improve the multi-level financing security system and reduce financing costs.
- Keywords
- High-Tech SMEs; Collective Bond Financing; Coordination Theory
- StartPage
- 66
- EndPage
- 69
- Doi