中文摘要：

基于现金-现金流敏感性模型,选择珠三角新三板挂牌科技型小微企业相关数据进行实证研究,发现供应链金融的发展有助于解决珠三角科技型小微企业的融资问题。因此,珠三角地区的政府、金融机构和企业应协同合作,大力发展供应链金融,以缓解珠三角科技型小微企业融资约束,从而促进珠三角地区经济金融的发展。

英文摘要：

Based on cash-cash flow sensitivity model, the paper selects the data of the new three-board High- tech Small and Micro Enterprises in the Pearl River Delta region to conduct empirical research. It suggests the development of supply train financing help to solve the problem of financing on Small and Micro Enterprises. Therefore, the regional government in Pearl River Delta, financial institutions and enterprises should cooperate to reduce the restriction on financing of High-tech Small and Micro Enterprises in the Pearl River Delta so as to promote the development of Economics and Finance in the Pearl River Delta