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    ���þ�γ 2018 Issue (5) :129-135
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    ���dz�, �ι���, ����Ⱥ
    �й�ũҵ��ѧ ���ù���ѧԺ,���� 100083
    Financing Constraints, Financing Policies and the Realization of Dual Performance of Small Loan Companies
    FAN Ya-chen, HE Guang-wen, TIAN Ya-qun
    College of Economics and Management, China Agricultural University, Beijing 100083, China
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Abstract�� Based on the non-balanced panel data of 407 small loan companies during the 2011-2016 period, this paper empirically tests the influence of financing constraints and financing policies on the dual performance of small loan companies. The study finds that the financing constraint has a negative impact on the financial performance, but has a positive effect on social performance. Relaxation of financing policy can improve the social performance and financial performance while undermining both the positive effect on social performance and the negative effect on financial performance. Further studies find that the improvement of the financial performance and social performance cannot be combined, but financing constraints can weaken the negative effect of social performance on financial performance.
Keywords�� Financing Constraints   KZ Index   Financing Policy   Financial Performance   Social Performance     
�ո����� 2018-09-18; �������� 2018-09-18;
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���dz�, �ι���, ����Ⱥ.����Լ��������������С����˾˫�ؼ�Ч��ʵ��[J].  ���þ�γ, 2018,5: 129-135
FAN Ya-chen, HE Guang-wen, TIAN Ya-qun.Financing Constraints, Financing Policies and the Realization of Dual Performance of Small Loan Companies[J]  Economic Survey, 2018,V35(5): 129-135
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http://www.jjjw.org/CN/     ��     http://www.jjjw.org/CN/Y2018/V35/I5/129
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