Design On Mutual Guarantee Financing Model And Game Analysis Of Small And Medium-sized Enterprises

Nowadays, Lots of middle and small enterprises have been an important part of not only Shangrao City's economy ,but also national economy. The development of middle and small enterprises 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 middle and small enterprises.According to foreign experiences, the key to solve the problems of the middle and small enterprises financing is to build and improve credit guarantee system. After being built for a decade, the credit guarantee system in our country has achieved a primary effect and shows a "one body and two wings" structure. 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. In order to solve these problems, a new model, Embedded Security Mutual Guaranteed Fund(ESMGF) which based on the industrial clusters, with multi-subjects including local government,co-operative bank,small and medium-sized enterprises (SMEs),shaaring risk, cooperating re-guarantee institution is designed in the thesis.This paper make a study of operation and risk control of mutual-guaranteed finance mode and the organization structure,the operation process,the risk-controlling system and the whole mechanism is being designed condisdering the cluster traits.The risk of guarantee decision-making is simulated by game model,and have a discussion of factors impacting the risk with actual data.Lastly,the policy advices relating to the popularization of the mode are advanced.