本文主要目的為探討台灣中小企業信用保證制度的實行，是否能修正金融資本市場因為訊息不對稱導致市場失靈的問題，改善各產業在外部融資上的取得。此外針對決定信用保證金發放因素進行研究，觀察台灣信保機構在審核案件上主要觀察的財務指標。儘管有許多文獻針對信用保證制度與廠商理論做出研究，但大多為理論模型的發展，較少文章利用實證方法進行分析。受限於廠商資料取得困難，本文使用產業別財務資料，配合長期追蹤資料模型，針對台灣信用保證制度與資本結構發展進行分析。
本文實證上發現，信用保證比率對負債比率有顯著性的正向影響，表示信用保證制度確實能增加產業的外部融資，部分地修正因為信用分配現象導致部分廠商無法取的融資的困境。獲利能力與負債比率之間則呈現顯著性負相關，符合Myers所提出的內部融資理論。而可提供較多擔保品的產業，因為能減輕銀行在放款上面臨的風險，因此能取得較多的外部融資，與負債比率之間為顯著性正相關。另外在可擔保比率對負債水準的影響上呈正相關，表示擔保抵押資產越多，銀行確實會越願意提供放款。但是在本文資料中負債比率對風險影響上並不顯著。
在影響信用保證金發放的財務指標上，從實証上發現台灣信用保證機構確實主要協助於可擔保比率較低與廠商規模較小的廠商，而放款比重上著重於前期獲利能力與前期資產管理能力上，表示信保機構較重視廠商的還款能力與經營管理績效。但對於代表產業技術特性的前期技術性指標R&D呈現不顯著的關係，表示信保機構較不會因為廠商所屬產業別差異，在信用保證業務上有所區別。

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