译 名：Breaking the curse of enterprise financing of small and micro enterprises— from the practice of Alibaba
案例作者：赵尚梅、杨喆
作者单位：北京航空航天大学
所在案例库：中国金融专业学位案例中心
案例链接：http://www.pdf.org.cn/homepage/excellent/29
中文摘要：融资难像魔咒一样一直困扰着小微企业的发展。截至 2014 年阿里巴巴电 子商务平台注册企业用户数已超过 1.2 亿，企业店铺超过 1000 万，超过 80%的 企业有融资需求，其中 70%的客户因为没有抵押物和担保而无法获得正规金融机 构的贷款。研究作为具有上亿家小微企业的国际最大的电子商务平台公司阿里巴 巴，是如何解决其平台上小微企业融资难题的，具有典型的案例价值和重大的理 论和实践意义。本案例通过阿里小贷产品经理和平台上小微企业主的对话，描述 了小微企业在银行、小贷公司、地下钱庄、众筹、P2P 和阿里小贷等不同渠道融 资的心酸和喜悦、阿里小贷的成长历程和阿里破解小微融资魔咒的机制;揭示了 传统金融机构约束小微融资的关键因素，阿里小微信贷的成功要素;启发学生思 考阿里小贷的可持续性和理论模型的科学性?互联网金融的兴起能否破解小微 企业融资难题?科学技术和组织创新在破解小微企业融资难题上是否具有里程碑意义?
英文摘要：Enterprisefinancing have always been a trouble to the development of small and micro enterprises just like a curse. By the end of 2014, enterprises registered on the platform of AlibabaE-commerce have exceeded 120 million. There are more than 10 million online stores on that platform, 80% of them have the needs of financing. In addition, 70% of the users are not able to get loans from public financial institutions due to the lack of collaterals and guarantees. By researching the methodsAlibabahas been practicing on their online financing platform,it is possible for us to find out a solution to the enterprise financing problems of small and micro enterprises. SinceAlibaba is the largest international e-commerce company, such research has its typical case value, as well asitstheoretical and practical significance. Through the conversation between an Ali Small Loan manager and an owner of a small business, the case describedthe pain and joy the small and micro enterprisers had been throughby trying to get loans from banks, micro-credit companies, underground banks, crowdfund, and Peer-To-Peer lending. It also indicated the growth and mechanisms of Ali Small Loans. By studying this case, we are looking to find out themaincauses of the restrictions the traditional financial institutions have had on small and micro enterprises, as well asthe cause of success of Ali Small Loan. We also want to inspire our students to consider the sustainability of Ali Small Loans and the scientific nature of this theoretical model. Can the rise of the internet finance resolve the enterprise financingproblem of small and micro enterprises? Does the technology and organization innovation have a positiveand significant impact on enterprise financing of small and micro enterprises?These are all for us to find out by studying this case.
中文关键词：小微企业融资魔咒;阿里巴巴破解之道;阿里小贷涓涓溪流
英文关键词：the curse of enterprise financing of small and micro enterprises, the practice of Alibaba, Ali Small Loans
案例入库时间：2015-06
