Credit Risk Assessment To Small And Medium Manufacturing Enterprises In China

SMEs in China is very good survival and development environment, financing not smooth, financing difficulties have restricted the development of the main obstacles for SMEs in China, may become the bottleneck of China's economic development. The most fundamental reason is that corporate credit problems.Therefore, how to learn through the international advanced credit risk measurement techniques to establish appropriate national conditions of China's credit risk measurement model, is China's financial industry faces an important issue. In this context, the paper on China's manufacturing SME credit risk assessment of class-related issues. Thesis, the theoretical analysis and empirical research methods combined, first, the analysis of the current popular credit risk assessment model, through analysis and comparison of selected class of KMV model as our manufacturing SME credit risk assessment model for the study; second, using Manufacturing SMEs in the sample data that listed the key parameters of KMV model-empirical default point DP be determined, and the credit risk of such enterprises empirical study. Study also found that the use of KMV model class of Chinese manufacturing SME credit risk assessment studies, the choice of default point of DP should be as current liabilities plus long-term liabilities; KMV model can effectively predict the credit risk of SMEs in China manufacturing category.