中文摘要：

中小企业是我国国民经济发展的重要组成部分，对于我国国民经济持续稳定的发展有着重要的促进作用。但是我国中小企业由于存在规模都比较小、体制不完善等问题，因此在融资时有许多困难；并且现代企业制度所有权和经营权分离，又会出现代理成本问题；同时目前国内生产资料价格普遍上升，就如何提高生产效率降低生产成本成为这些中小企业共同面临的问题。文章就上述中小企业问题进行实证研究，检验了融资约束、代理成本与生产效率之间存在的关系。

英文摘要：

SMEs in China＇s national economy is an important component part of the development, has an important role in promoting China＇s national economy＇s sustained and stable development. But because our country medium and small businesses＇s scale are relatively small, the system is not perfect and so on, so there are many difficulties in financing; and the modern enterprise system is the separation of ownership and management, it will appear the agency cost problem; at the same time domestic manufacturing data price rises generally, so how to improve production efficiency and reduce the production cost of these small and medium enterprises become a common problems. This paper makes an empirical study on the problem of small and medium enterprises about financing constraints, agency costs and the efficiency of production.