Research On The Credit Guarantee Mode Of Small And Medium-sized Enterprise In China

Along with the rapid development of our economy since the reform and opening, small and medium-sized enterprises are playing increasingly important roles. But, in the rapid development process, there are many problems which limit on the rapid development process are appearing. The most important one is financing difficulty and it has been the most difficult problem in the world, which all small and medium-sized enterprises have to face to .People relevant have given a lot of suggestions to solve the problem. Introducing guarantee agencies in the credit model to help the enterprises obtaining loans is the more efficient way to solve the problem .By analysing credit guarantee theory ,this paper believe Introducing guarantee agencies in the credit model is an efficient way to solve financing difficulty and it also can avoid the risk of adverse selection effectively. And point out the necessary conditions that the guarantee agencies can run effectively is guarantee agencies can recognize the risk types of the small and medium-sized enterprise better than financial institutions .And the status of guarantee agencies in the cooperation of guarantee agencies and bank is also the key factor of restricting the guarantee agencies run effectively. Then this paper uses the method of game theory to analyze the system background of guarantee agencies, describe the essence of the game clearly, and gives the payment function of both sides .And also find out the main factors and the constraint conditions of restricting there actions are: guarantee agencies believe the probability of the small and medium-sized enterprise chose be honest, the guarantee funds and the guarantee income. In the dynamic game model, the factors of influencing guarantee agencies action also include The probability of bank extend credit to the small and medium-sized enterprise, if guarantee agencies chose to guarantee when the small and medium-sized enterprise is Low or high risk types; And then this paper compares the advanced and mature guarantee mode in the international and summarizes the advantages and the experiences, and analyses the characteristics,the defects and the reasons of our credit guarantee model. Combine with the analysis and the conclusion in the front, this paper point out the main guarantee model which suitable for our country should be the new commercial guarantee model. This paper expressed the new commercial guarantee model's characteristics, operation mechanism, the Theoretical basis and the relative advantage. Finally this paper point out the guarantee structure which suitable for our country should be that the new commercial guarantee model is the main body, the policy guarantee model is the powerful guarantee, the mutual guarantee model as the useful supplement of the guarantee model is the beneficial supplement .