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| A Study on Internet Finance Helping Relieve SMEs Financing Constraints |
| WANG Xin
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School of Economics,Shandong University;
Ji'nan branch of the PBC |
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Abstract In this paper we investigate the impact of internet based finance on SMEs financing based on the Anderson“long tail”theory . In our research, we found that,firstly the financial needs of SMEs are the “long tail”. Secondly the internet technology can better satisfy the “long tail” need of SMEs. Moreover, internet based finance has economies of scale, economies of scope and external economy at the same time. In traditional financing, as credit rationing is often twisted, the supply curve of financing become arm shape. Within the internet based finance, the arm shape curve can be improved, especially for SMEs and financial resources allocation are more rational. Finally, to promote the health growth of internet based finance, some suggested policies are given in this paper.
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Received: 20 January 2015
Published: 19 April 2018
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