东南亚华人企业融资模式初探

本文认为东南亚华人企业的融资模式是一种严重依赖于商业银行贷款和存在大量关系型融资的间接融资模式。形成这种融资模式最重要的两个因素 ,一是东南亚各国的间接融资体制 ,二是华人企业本身的家族治理结构。金融危机后的华人企业将会逐渐减少关系型融资、增加直接融资 ,以使其融资模式更加合理。

On the Financial Model of the Chinese Enterprises in Southeast Asia

The author argues that the financial model of the Chinese enterprises in the Southeast Asian countries is an indirect one that depends heavily on the loan from commercial banks and human relations.Two most important conditions for the formation of this financial model are the indirect financing system in those countries and the family administrative structure of the Chinese enterprises.After the financial crisis,the Chinese enterprises has been reducing the relational financing and increasing the direct financing,in order to make the financial model more rational.