Research On Mutual Guarantee Mechanism For Small And Medium-sized Enterprise

At present, the small and medium-sized enterprises (SMES) have played an increasingly important role in the national total economy output, and they have become an important component of China's economy. The constant development of SMES needs more funds, and it is difficult for them to fund by themselves, thus it is necessary to fund from outside. However, because of the problems that the enterprises and the financial system have, the difficulty of external financing emerges increasingly, and has been the primary factors that hinder the development of SMES. According to foreign experiences, the key to solve the problems of the SMES financing is to build and improve credit guarantee system. With respect to the study of mutual guarantee, one of the two wings, there have been many organization methods and made some beneficial attempts. However, many problems have still emerged, such as the small fund scale, insufficient profit, excessive government interference and lack of measure to manage risks, which restrict the function of mutual guarantee. Therefore, how to fund scientific and efficiently, establish and push mechanism of Mutual Guaranteed Fund, are the present academic theorists and workers to be studied and resolve important issues.With the SMES inside the cluster finance as the object, this study firstly compare the financing situation between SMES inside the cluster and those separate outside, and analyze the advantages of cluster financingSecondly, after analyzing existing problems in mutual guarantee mechanism, aimed at the existing problems the whole arrange for mutual guarantee mechanism is being designed coupled with framework based on the game theory. Based on this, the game model to mutual guarantee business is simulated, and the study discusses the key factors to ascertain that scope of operation for mutual guarantee mechanism, providing empirical basis.Then, combining the characteristics of mutual guarantee mechanism, perfecting the risk management mechanism, separately from risk identification, risk control and credit evaluation, countermeasures and suggestions of the mutual guarantee mechanism from internal and external proposes are put forward. Lastly, the policy advices relating to the popularization of the mode are advanced.