Research On Credit Risk Of Enterprise Group Based On The Perspective Of The Related Transaction

In recent years, it is not surprised to see that many domestic and foreign enterprisesfall into financial crisis due to related party transactions.There is no doubt that the creditrisk caused by the related transactions has become one of the important risks,with whichthat enterprise groups have to face during the development process. Therefore, how toeffectively manage and control credit risk caused by the inner related party transactionshave become the common concerns of both enterprise groups and commercial banks.The problems that this dissertation focuses on are the characteristics of the relatedtransactions and the intrinsic link between related transactions and credit risks of theenterprise groups. The dissertation first explores the relationships between relatedtransactions and the credit risk of the enterprise group.Then in order to explore therelation between non-fair related transactions and corporate governance, this dissertatinbuilds the structural equation model of the enterprise group’s non-fair relatedtransactions based on corporate governance. Further, from the perspective of relatedtransactions, Logistic and SVM models are used to study how the related transactionsaffect the enterprise group’s credit risk. Additional, in order to study the ransmissionmechanism of the enterprise groups’ credit risk based on related transactions, thisdissertation builds a model based on one ordianary kind of inner related transactions ofenterprise groups; meanwhile the theoretical model of credit risk transmission based onthe strength of the related transactions is constructed and simulated through multi-agentsimulation method. However, in order to build an efficient and simplified indicatorsystem taking related transactions indicators into account, DEMATEL method is uesedto do the indicators selection from the indicator system of credit risk of enterprisegroups based on related transactions.And through the model of Logistc and thecatastrophe evalution method, the importance of the indicators of related transactions tothe credit risk evaluation of Enterprise Group and the validity of the indicators of relatedtransactions are tested and verfied.From different perspectives, this dissertation uses different models and methods toportray and research on the intrinsic link between the financial crisis and the related credit risk of enterprise groups, from both the theoretical and empirical level. Thisprovides new ideas and methods for Enterprise Group’s own financial management andrisk control, as well as the credit risk management of enterprise customers for thecommercial banks and other financial institutions.