Research On Agent Credit Evaluation System And Credit Management Of Government Investment Projects

With active promotion of Agent Construction System (ACS) in China since2004, there are47sub-provincial cities in the whole country, have already carried out relevant works of ACS reform. In an agent project, the agent holds huge amounts of investment capital and determines the achievement of project goals. With the yearly increasing number and scale of government investment projects in the recent years, the agents take huge risks, and the credit requirements on agents are also getting higher and higher. While China vigorously builds the social credit system, the State Council issued Several Opinions on Social Credit System Construction, which indicates clearly that industry credit construction is an important part of the social credit system construction, and engineering construction industry is the focus of the credit governance. In this context, researching problems of agents’ credit evaluation and management will be conductive for agent to clear its own position in the industry and to identify its development goals. To urge the agents comply with market economy orders in operating activities, and it will stimulate the healthy development of ACS, promote the credit system establishment in construction industry simultaneously, and speed up the construction of credibility society.This paper firstly draws the definition of agent credit from the credit connotation, and analyzes agent credit risks in three levels. Then, with analysis of agent’s responsibilities and obligations in different agent modes, agent credit risks performance is recognized. It analyzes that the root cause of agent credit risk is information asymmetry, incomplete contract and credit emergencies, and the practical reason includes imperfect legal system, lack of government regulation, lack of the incentives, asymmetry of agent risks and benefits. According to these reasons, based on agent credit risk control, the agent credit management framework is built. The framework includes credit evaluation system, credit management system and credit management mechanism, which three parts complements each other and work together to make the agent credit risk being effectively controlled.With the frequency statistics method and WBS technique, establishes hierarchical graph of agent’s credit evaluation context, after which, indicators are selected from the context and adjusted with expert investigation, in which way credit performance evaluation indicators are initially identified. After then, indicators are optimized with attribute reduction algorithm based on Rough Sets, and it is finally determined that agent’s credit evaluation would be carried out in terms of four levels, and64decision indicators, besides, the article describes each indicator’s meanings and examining contents in detail.Based on research on evaluation methods, agent’s credit evaluation model builds agent’s credit fuzzy element model on the basis of AHP entropy, compromising subjective and objective weighting methods weight according to agent’s credit evaluation characteristics. In the evaluation model, subjective weights are obtained with analytic hierarchy process and objective weights are obtained with entropy, and least square method is used as a tool to build an optimization model of determining indicators’ weights to obtain optimized weights combination. And the score of evaluating is get by fuzzy matter-element model, finally get the credit value through weighting caculation. Finally, based on credit score, grading all the agents’credit through K-The average clustering partition method. This is verified by an example.This paper studies the specialty of agent credit management. The paper builds a virtual organization of agent’credit which is consisted of governmental departments and leaded by the Development and Reform Commission. The departments’ composition and responsibilities of the virtual organization are analyzed. By referring to foreign credit management model, the paper builds a government-led agent’s credit collaborative management and a six-in-one model:external macro supervision of industry associations, social supervision, the judiciary and the credit professional organizations, as well as credit self-control in internal corporate. It also respectively introduces implementation mode and content in detail from internal and external supervision aspect, and combs the general process of agent’s credit management.Starting from the concept of management mechanism, the paper establishes agent’s credit management mechanism in three basic components, which are operation mechanism, dynamic mechanism and restraint mechanism of management. The operation mechanism of agent’s credit management covers three main elements:credit information transfer, credit certification and credit publicity; credit management dynamic mechanism includes incentives and penalizing mechanism; credit constraint mechanism includes two aspects of regulatory mechanisms and social psychological constraints. The article also elaborates the each mechanism in detail.Finally, agent’s credit evaluation and management platform is designed in the paper. The information platform combines content and process of agent’s credit evaluation and credit management researched in the article. The system realizes the login of users with different permission, such as the agent, government departments, evaluation experts, principal and the public. It also realizes the agent’s credit data collection, audit and publicity, and agent’s credit evaluation, the evaluation query, the evaluation publicity, and the project-based agent’s credit supervision, besides, it provides an exchange platform with suggesting and reporting windows.The research is sponsored by Beijing philosophy and social science plan, the title is that The Research of Agent Credit Evaluation System and Management Mechanism in Beijing Government Investment Project(NO.09BaJG260). The achievement of the research project has passed the examination, and it providers theory and method for Beijing agent market’s credit system construction, some polices are put forward follow the plan’s implementation.