The forming of non - performing assets is related to the soft restriction set on enterprise and soft management of bank loans by bank ; to high liability management and low economic benefit of state - owned enterprises ; to the external circumstances and the change of policy during the transferring of china " s economy 银行不良资产形成除了银行本身预算软约束、管理不善之外也与国有企业高负债经营，效益很差有关，同时与我国经济转轨中政策变化以及政府的干涉有关。
This methodology proposes a new classification to the constraints of production system , and provides the ideas of establishing work flow models based on system dynamics in order to reflect the influence of human factor on process flow , and exploiting the technique of process mining to trace and control the constraints 这一方法对现有的生产系统约束分类进行改进，将约束分为硬约束和软约束，提出对不同类别的约束采取不同的解决措施；建立基于系统动力学的工作流模型，以反映人的因素对流程产生的影响，并采用过程挖掘技术实现对生产系统约束的追踪、控制及改进。
The private economy financing straits just is the facial phenomena , the deep problem behind which is the unreasonable institution construction and the low efficiency of financing institution . the financing institution predicament results from the soft constraints of budgets and the limitation of corporation structure . and the single property rights of state - owned bank and the recessive assurance from the government make the it more worse 民营经济的融资困境只是表面的现象，隐藏在其背后的深层次问题是融资结构的不合理和融资制度的低效率；而国有企业的产权结构不合理以及由此导致的“预算软约束”和法人治理结构的缺损，是导致其自身无法摆脱困境，并致使融资制度陷入困境的重要原因；同时国有银行自身单一的产权设置和政府对股市的隐性担保又加剧了这一困境。
In addition , the studying facts play the same important role in this paper . after studying the practical circumstance in china , the purpose of this paper is to make sure the existence and development of china ' s small - and - medium - sized banks . at last , to realize the outer and inner problems of china ' s small - and - medium - sized banks and then to find a better way for china ' s small - and - medium - sized banks to develop 在这一基础上结合预算软约束理论分析了中国的金融结构以及中国中小商业银行的生存环境，从理论和实践两方面对我国中小商业银行存在和发展加以肯定，同时从外部和内部两方面深刻认识我国中小商业银行存在的问题，进一步探析中国中小银行的持续发展问题并得出一些结论。
We will proves it isn " t always effective that financial monitor attempt to decrease the probability of the nonperforming loan by penalty when we suppose the loan which state - owned commercial bank will loan must be nonperforming loan ( it means that state - owned commercial banks certainly don " t loan ) and we don " t take into account , market risk and budget , soft restriction 我们将证明，假设国有商业银行将贷的一笔款已知是不良贷款，在不考虑市场风险和预算软约束的情况下，国有商业银行可以选择贷款，也可以选择不贷款，此时金融监管部门企图对商业银行罚款来降低这一笔不良贷款的概率并不总是有效的。
In view of this , taking the analytic method with reference to achievements in the related studies , this thesis researches the vulnerability of chinese bank system and discusses its intrinsic mechanism in terms of structure of property rights , soft restraint of budgets , credit condition and information , and further attempts to take the property rights as the breach to the improvement of chinese bank system 鉴于此，本文将运用历史与逻辑相一致、规范和实证相结合的分析方法，借鉴国内外有关研究成果，对我国银行的脆弱性进行考察，从银行业现存产权结构特征、预算软约束、信用状况、信息等视角探究我国银行体系风险的内在生成机制，并尝试以产权为突破口寻求改善我国银行体系脆弱性的路径。
Finally , the paper discusses the conditions of internal financial risk in china , and points out the nonperforming assets of banks to be the most critical financial risk , and then explores the reason in the method of the game theory , and concludes that the soft budget constraint faced by chinese state - owned enterprises is the answer of the problem 最后分析了中国整个金融体系的风险累积现状，指出银行业的不良贷款是金融风险最大的隐患；并运用博弈论分析表明在中国国有企业的预算软约束是不良资产形成的主要原因。
Going beyond the numbers , busby also helps you deal with the enormous role that psychological factors play in trading , offering strategies for handling the greed / fear dilemma , techniques for staying mentally positive , and advice on how to avoid obsessing over trading and maintain your normal lifestyle 超越号码，巴斯比也可以帮助你处理这个巨大的作用，认为心理因素在发挥营运，提供战略，处理好贪婪/恐惧的困境，技巧留在精神上积极的，并就如何避免预算软约束过于频繁的交易，并维持你的正常生活方式。
This paper analysis the reason in the level of cost and rules , build a model to test the financing cost of capital of listed companies , compare of the cost of equity financing and debt financing directly , prove the cost of equity financing is lower than debt financing in current period . because equity financing should be improving the capital structure of china ' s listed companies , equity financing is the first choice to the listed companies , another reason of the choice is the risk aversion of the manager to the hard constrained control of debt financing , but the soft constrained control of equity financing , hence the intensity of the equity financing 本文从成本和制度层面对上市公司股权融资偏好的原因进行分析，建立了我国上市公司的融资资本成本核算模型，直观地比较了股权融资及债权融资的成本，证明在我国现阶段股权融资的成本更低，而且由于股权融资可以明显改善公司资本结构，所以中国上市公司的股权融资偏好是其理性选择，另外我国上市公司的经营管理层厌恶债权融资还本付息的硬约束，更倾向于股权融资的软约束，也加强了股权融资偏好的强度。
As a kind of endogenic phenomenon of progressive reform , the reasons of financial dilemma lie in financial preference of nationalization and soft budget restriction of state - owned enterprises , asymmetric information and the rate which is not decided by market transaction , and the actual ownership - discrimination of stock market and bond market 作为渐进改革的一种内生现象，民营经济的金融困境源于“国有化”金融偏好与国有企业预算软约束，信息不对称与利率非市场化，以及股票市场与债券市场事实上的“所有制”歧视。
