Research On Chinese Entrepreneurs's Credit Deficiency And Its Treatment In Transitional

After three decades of reform and opening up, China has basically entered the track of healthy development of market economy, the market mechanism is gradually in allocating resources to play a fundamental role in credit transactions has become China's market economy, the basic transaction. However, due to economic restructuring in a variety of factors, the result of a long-term accumulation, China's current corporate credit issues are entering the peak period.In this paper, as defined with economies in transition, based on the analysis of the transition period of China's corporate credit loss performance and impact on the present status of Chinese enterprises lack of credit have been summarized and comb. From the transaction costs, market risk and resource allocation, finance and many other points of view on the corporate credit loss to China's economic development, adverse effects were analyzed separately.In this paper, the analysis of new institutional economics approach, from the ownership structure, diversification, decentralization of decision-making body rule and multi-system co-exist in such areas as analysis of transition, lack of enterprise credit system environment. Discusses the lack of institutional enterprise credit causes that the economies in transition, lack of credit order, credit restraint mechanism weakened, the system factors such as lack of commitment to a comprehensive role in the transition economies, China's enterprises lack a formal system of credit causes;At the same time, the informal credit system in China changes, the traditional model of interpersonal relationships, moral philosophy, mindset change, the rules of conflict and uncertainty, is in transition, Chinese enterprises lack the informal system of credit causes; In addition, a formal system in transition, and informal system of coordination between the weakening and constraints are also softened the effective functioning of the credit system had a negative impact.In this paper, the game theory and information economics analysis, enterprises are facing transition in the economic environment is analyzed. By studying the behavior of economic agents of the credit can be found to increase the penalties for dishonest businesses to raise the cost of corporate dishonesty, so that enterprises lose the trust of the cost of short-term game is much higher than the gains, therefore, can promote the long-term game companies tend to reduce the behavior of corporate dishonesty Therefore, in building business credit the design of lack of governance mechanisms need to break its promise to increase the cost, increase revenue and trustworthy, leaving a game and trustworthy utility maximization behavior of the starting side, while the construction of the regulatory system through greater, making trustworthy become independent economic entities select.This article is also carried on the business credit building of an international reference comparison. Analysis of the impact in Europe, represented by government-led credit model to the United States as the representative of the market-based credit models and the representative of Japan's trade association for the different characteristics of the credit model, from the credit legislation, credit control, credit management and services, mechanism to punish bad credit behavior carried out a comparative analysis.That China's model of the design and construction of the credit must consider the current stage of economic and other constraints, using follow the local conditions, the principle of gradual and orderly progress, and to take advantage of the developed countries, and gradually establish a credit system with Chinese characteristics.Finally, the paper put forward the issue of governance of China's corporate credit the overall plan. Put forward to build business credit rules and norms of governance mechanisms, improve enterprise credit management information transmission mechanism, and strengthen the credit management of environmental constraints and improve enterprise credit management system of technical assistance mechanisms for the specific design four countermeasures.