Does the Relationship between Banks and Enterprises Relax the Financing Constraints of SMEs?——Based on Testing Investment-Cash Flow Model

Foreign studies find that the relationship-type lending of banks can improve the financing environment of SMEs. But the researches on this problem in our country are controversial. This paper starts from the lending techniques of banks based on the data of the listed SMEs and positively studies whether the close relationship between banks and enterprises can improve the financing constrain conditions of SMEs by using investment-cash flow model and finally verifies the idea. However,it is a pity that only a few SMEs establish the bank-enterprise relationship and the use rate of the relationship-type lending technique is not high.