The Research On Credit Rating Of Our Country’s Small And Medium High-tech Enterprises

Small and medium high-tech enterprises is the most promising businesses in our country’s economic activity, and also is one of the important engine of economic growth, it has high innovation, high growth, high profitability and all those are linked to high risk, the investor don’t invest if they don’t have a full understanding of a enterprise. At present, it’s very difficult for our country’s small and medium high-tech enterprises to financing, the reason is the small and medium high-tech enterprises have high risk, and the investor cannot have a full understanding to them. As the third party, credit rating agencies can make a fair evaluation of the credit situation of the small and medium high-tech enterprises, and the investor can have a full understanding to them. For this purpose, this article research the credit rating of the small and medium high-tech enterprises, so can supply help for the investor’s investment, this has great practical significance, and also is this study’s starting and ending points.This study use AHP. credit scoring method and comprehensive evaluation method, combined with the characteristics of small and medium high-tech enterprises, build a Chinese characteristics credit rating index system and rating models for small and medium high-tech enterprises, providing a useful reference for evaluation the credit risk of small and medium high-tech enterprises.Specifically, first this study describes the definition of small and medium high-tech enterprises, the development and financing status, analyzes the effect of credit rating to small and medium high-tech enterprises" financing. Those are theoretical base of building credit rating index system and rating models; then this article build credit rating index system and rating models, process is as follows:First, based on the construction principles, combined with the domestic and foreign research results, build a Chinese characteristics credit rating index system and rating models for small and medium high-tech enterprises; Secondly, use AHP to set index weights; Thirdly, calculate credit score. For the different characteristics of qualitative and quantitative indicators, select different rating models, For qualitative indicators, select comprehensive evaluation method, and for quantitative indicators, select credit scoring method to calculate credit score. At last, in order to verify the reasonable of the credit rating index system and rating models, this article choose a small and medium high-tech enterprise to make credit rating, the result shows that the credit rating index system and rating models can evaluate the credit status of our country’s small and medium high-tech enterprises. At the end of this article, according to the studies, the article raises a few-improvement suggestions for the credit rating of our country’s small and medium high-tech enterprises.