SME's Finance Research
Course Description
Instructor: JiaZhuo(George)Wang, PhD
Email:jgwang@phbs.pku.edu.cn
Course Name
Chinese name：中小公司融资研究
English name：SMEs Finance Research
Language: Chinese(or Chinese & English)
Credit: 3
Course Objectives
Course Assessment (Grading Policy)
Attendance 10%
Group Discussion 10%
Literature Review 10%
Case Report and Mid-term Presentation 35%
Case Report and Final Presentation 35%
Course Arrangement
Schedule
5/27: Introduction
The issues of SMEs financing and its importance to tech innovation, financial innovationand sustainable economic growth; Market failure and Government programs
5/29: Debt financing via bank loan: Cheng Qi, General Manager, SME Department of Shenzhen Brunch, Bank of China, and Group Discussion
6/3: Debt financing via bond market: Li Hongbo, General Manager, Bond Department, Qianhai Equity Exchange Center, and Group Discussion
6/5: Private equity financing via venture capital, Zhang Huaqiao, Partner, Slow Cow Capital, and Group Discussion
6/10: Public equity financing via IPO and underwriting, XuGuohao, Director, Growth Board Department, Guoxin Security, and Group Discussion
6/12: Mid-term case presentation
Mid-term case presentation
6/17: Capital markets for SMEs, Hu Shou Mao, Vice President, Investment Department, GuangFa Security, and Group Discussion
6/19: Financing via Small Loan, Guarantees, Pawn and Leasing, Shi Xiaojun, President, Wanhui Small Loan Company, Group Discussion
6/24: Final case presentation
Final case presentation
The schedule may be adjusted by instructor if needed.
Literature Review Report Format
(1) Name of the author(s), title of the article, name of the journal and publishing year, volume and page
(2) The description of the article (purpose or the problem to be resolved, data used, method used, conclusions achieved)
(3) The summary of the key contributions of the article
(4) Your conclusions or comments on the paper (strength, weakness, unresolved issues or the points you think it is not right)
Case Report Format
Partial Reference List
Allen N. Berger, Gregory F. Udell, “A more complete conceptual framework for SME finance”, Journal of Banking & Finance, 30 (2006), 2945–2966
Robert Cull, Lance E. Davis, Naomi R. Lamoreaux, Jean-Laurent Rosenthal, “Historical financing of small- and medium-size enterprises”, Journal of Banking &Finance, 30 (2006), 3017–3042
R. Richardson Pettit and Ronald F. Singer, “Small Business Finance: A Research Agenda”, Financial Management, Vol. 14, No. 3 (Autumn, 1985), 47-60
Allen Berger and GregoryUdell, “The Economics of Small Business Finance: The Role of Private Equity and Debt Markets in the Financial Growth Cycle”, Journal of Banking & Finance, 30 (1998), Volume 22
王家卓，“中小公司问题出在哪？”，《经理人》，专家观察专栏，2012年，第212期，74-75.
王家卓“破解中小公司融资困境”，《经理人》，专家观察专栏，2012年，第214期，56-57.
*
Instructor: JiaZhuo(George)Wang, PhD
Email:jgwang@phbs.pku.edu.cn
Course Name
Chinese name：中小公司融资研究
English name：SMEs Finance Research
Language: Chinese(or Chinese & English)
Credit: 3
Course Objectives
- To stimulate students’ interest in the field of SMEs financing.
- To help students understand the importance of SMEs financing and haveawhole picture and deeper level of knowledge about the theory and practice of the SMEs financing.
- After this course, students should be able to use analytical methods and tools learnedfrom this course to analyze the specific issues of SMEs financing.
Course Assessment (Grading Policy)
Attendance 10%
Group Discussion 10%
Literature Review 10%
Case Report and Mid-term Presentation 35%
Case Report and Final Presentation 35%
Course Arrangement
- Two classroom lectures a week, each class(with 2 regular class time slots) takes about 3 hour and 40 minutes.
- Experienced experts in the related fields from famous financial institutions will also be invited to give lectures.
- Interactive and inspiring teaching methods with theory and practice combined will be used to strengthenthestudents’ understandingin this area.
Schedule
5/27: Introduction
The issues of SMEs financing and its importance to tech innovation, financial innovationand sustainable economic growth; Market failure and Government programs
5/29: Debt financing via bank loan: Cheng Qi, General Manager, SME Department of Shenzhen Brunch, Bank of China, and Group Discussion
6/3: Debt financing via bond market: Li Hongbo, General Manager, Bond Department, Qianhai Equity Exchange Center, and Group Discussion
6/5: Private equity financing via venture capital, Zhang Huaqiao, Partner, Slow Cow Capital, and Group Discussion
6/10: Public equity financing via IPO and underwriting, XuGuohao, Director, Growth Board Department, Guoxin Security, and Group Discussion
6/12: Mid-term case presentation
Mid-term case presentation
6/17: Capital markets for SMEs, Hu Shou Mao, Vice President, Investment Department, GuangFa Security, and Group Discussion
6/19: Financing via Small Loan, Guarantees, Pawn and Leasing, Shi Xiaojun, President, Wanhui Small Loan Company, Group Discussion
6/24: Final case presentation
Final case presentation
The schedule may be adjusted by instructor if needed.
Literature Review Report Format
(1) Name of the author(s), title of the article, name of the journal and publishing year, volume and page
(2) The description of the article (purpose or the problem to be resolved, data used, method used, conclusions achieved)
(3) The summary of the key contributions of the article
(4) Your conclusions or comments on the paper (strength, weakness, unresolved issues or the points you think it is not right)
Case Report Format
- Company’s name, location, the industry it is in, and other basic info about the firm (such as size of the firm, market position/share, and other financials)
- The description of the event that involves in SME financing
- The financing issues the firm encounters
- Result (of the event, or the solution of the financing) and analysis of the SME financing issues involved
- Conclusions
- References or/and data sources
Partial Reference List
Allen N. Berger, Gregory F. Udell, “A more complete conceptual framework for SME finance”, Journal of Banking & Finance, 30 (2006), 2945–2966
Robert Cull, Lance E. Davis, Naomi R. Lamoreaux, Jean-Laurent Rosenthal, “Historical financing of small- and medium-size enterprises”, Journal of Banking &Finance, 30 (2006), 3017–3042
R. Richardson Pettit and Ronald F. Singer, “Small Business Finance: A Research Agenda”, Financial Management, Vol. 14, No. 3 (Autumn, 1985), 47-60
Allen Berger and GregoryUdell, “The Economics of Small Business Finance: The Role of Private Equity and Debt Markets in the Financial Growth Cycle”, Journal of Banking & Finance, 30 (1998), Volume 22
王家卓，“中小公司问题出在哪？”，《经理人》，专家观察专栏，2012年，第212期，74-75.
王家卓“破解中小公司融资困境”，《经理人》，专家观察专栏，2012年，第214期，56-57.
*