Research On The Bargaining Power Of SMEs And The Simulation Of Negotiation Decision-making Model In The Artificial Credit Market

Since the adoption of the reform and opening-up policy,the quantity of smalland medium-sized enterprise which account for ninety-nine percent of the totalnumber of enterprises in our country ballooned.These small and medium-sized enterprises occupy an increasingly important position in the national economy.However,along with the rapid development of the economy,the issue of financing thesmall and medium-sized enterprise is still stand out.From the perspective of commercial banks,the key to solve the financing problem of the small and medium enterprises is to correctly handle the profit distribution between them.Since the reform of the loan interest rate liberalization,these commercial banks have already been given greater loan pricing power by the people's bank of china.This makes the research about the bargaining power of the small and medium-sized enterprise become one of the essential problems which may solve the issue of profit distribution and help to enhance the financial resource allocation optimization.The core content of the thesis about the bargaining power of small and medium-sized enterprises includes the following two parts.Firstly,it's about the empirical study on the bargaining power of small and medium enterprises.In the third chapter,using the small and medium enterprises loan data from some civil commercial bank in china,we find that both the assessment of hard information(the registered capital and the sales)and the soft information(the duration)are significantly related to the small and medium-sized enterprises bargaining power.The registered capital and the sales are significantly positively related to the bargaining power while the duration has a negative correlation.Moreover,we find that when the firm is actually controlled by men,it always associate with higher borrower bargaining power.We also find that when the small and medium-sized enterprises apply for the recycling loan,the bank would like to make loan to the small business at concessionary rate.What's more,the small business with a more favorable pledged property may be relative to higher bargaining power.Secondly,in the fourth chapter and fifth chapter,we propose an artificial credit marketin which contains the transaction bargaining mechanism.By choosing the parameters of these agents,we illustrate experimental results of the proposed model in different market situations,including the inferior market for buyers,the equitable market and the beneficial markets.We find that in the inferior(beneficial)market,the agent who takes both objective and subjective considerations into account may make the bargaining negotiation process more efficient;however,we find that the agent has to make choices between efficiency andimpartiality in the equitable market.With the rapid development of the Internet financial,the research of the bargaining power based on the agent-based computational finance may provide a reference for the trading mechanism and loan pricing mechanism in the internet lending platform.