Emerging Technology Companies, Credit Risk Assessment Method And Credit Risk Management System Development

Emerging technologies absorb the attention of industry and academic increasingly with its huge market potential and impact of competitiveness and structure of the traditional industrial structure. Emerging technologies most notable characteristic is its high degree of uncertainty, and the emerging technology companies is different from the traditional enterprises with its uncertainty of credit risk. Traditional enterprise credit risk theoretical development is relatively mature, and credit risk theoretical research about emerging technology companies is seldom relevant.In this paper, we first give a detailed discussion of the characteristics of the emerging technologies and the choice of emerging technologies based on the new line of emerging technology filters or on the technology and market for no continuous innovative .Then following the lives of the five development phase for the emerging technologies, we give the credit assessment method for emerging technology enterprise of seed stage and start-up period and the designs of relative credit evaluation index system based on venture investment and discuss the credit risk assessment method for emerging technology enterprise in the expansion phase or on the maturity and relative designs of evaluation index system based credit agencies. On the credit risk assessment method based on credit agencies, many are discussed from the traditional assessment techniques (expert system, the rating score) on the application of emerging technologies to modern assessment methods (CreditMetrics, KMV , CPV, CreditRisk+) on the application of emerging technologies referred from credit assessment theory for enterprise from commercial banks.Finally based on risk investment business, we establish a complete emerging technology credit risk management system which includes four small systems: credit data mart as base, credit risk model system as the core, decision-making system and risk reporting system as a guide, all common serviced for the venture capital business system. At the same time segmentation of the system adequately address the high degree of loosely coupled system, prepare, the future development of the system and provide the scalability and theoretical development.