以中國2013～2017年互聯網金融發展、中小企業發展、中小銀行對中小企業貸款余額的季度數據為研究樣本,利用非結構化的向量自回歸模型VAR(p)實證分析了互聯網金融發展背景下,中國中小銀行對中小企業發展的促進作用。研究結果顯示,中國中小企業發展面臨嚴重的融資困境,而中小銀行在服務中小企業融資需求方面存在規模匹配、信息不對稱程度低、業務激勵強等特殊優勢,因而能夠通過向中小企業提供資金支持有效緩解中小企業融資約束,從而促進中小企業發展。此外,近年來中國互聯網金融的快速發展倒逼中小銀行加速改革創新進程,從而進一步增強了中小銀行服務中小企業的意愿和能力。除外部融資渠道的助力外,中國中小企業要想實現可持續發展主要還是依靠自身積累,此外政府部門相關優惠政策的扶持也尤為重要。

This paper takes China’s 2013-2017 quarterly data of Internet financial development, small and medium-sized enterprises’(SMEs) development, small and medium-sized banks’ loan balances to SMEs as the research samples, and uses the unstructured vector autoregressive model-VAR(p) to make an empirical analysis of the promotion effect of small and medium-sized banks on the development of SMEs against the background of Internet financial development. The research results show that the development of China’s SMEs faces serious financing difficulties, but they have special advantages such as scale matching, low information asymmetry and strong business incentives in serving the financing needs of SMEs; therefore, small and medium-sized banks can effectively alleviate the financing constraints of SMEs by providing financial support to SMEs, thereby promoting the development of SMEs. In addition, the rapid development of China’s Internet finance in recent years has forced small and medium-sized banks to accelerate the process of reform and innovation, and thereby further strengthen the willingness and ability of their serving SMEs. However, in addition to the assistance of external financing channels and for sustainable development, SMEs have to rely on mainly their own accumulation, and in addition, the support of preferential policies of relevant government departments are also particularly important.