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The Research Of The Financing Guarantee Model Efficiency For Small And Medium-sized Enterprise In China

Posted on:2014-01-20Degree:MasterType:Thesis
Country:ChinaCandidate:D LiuFull Text:PDF
GTID:2249330401951555Subject:Finance
Abstract/Summary:PDF Full Text Request
Small and medium-sized enterprise financing guarantee institutions have informationaladvantage,Can with own capital and credit guarantee for small and medium-sized enterprisefinancing risk,Building the information bridge between small and medium-sized enterprisesand Banks,To broaden the financing channels of small and medium-sized enterprises.Now athome and abroad have mutual guarantee, policy guarantee and commercial guarantee threemodels.Is given priority to with policy financing guarantee mode in our country at present.According to the observation, the need to overly dependent on government credit guaranteemodel, May expand the government responsibility, cumulative risk, Will not eventually beconducive to ease the small and medium-sized enterprise financing difficult problem.The efficiency of small and medium-sized enterprise financing guarantee mode researchstandards are: The efficiency of enterprise information, the benefits and risks of matchingdegree and economic value added (EVA). From the efficiency of the enterprise information,the benefits and risks of compatibility, The mutual differences and the efficiency of policyguarantee modes, Through the empirical test, Two kinds of government guarantee is the mosteffective guarantee mode, The mutual guarantee mode can be more efficient for enterpriseinformation, The benefits and risks is more match, Thus better able to solve small andmedium-sized enterprise financing difficult problem. For the business model, Commercialguarantee agencies to have professional enterprise information advantage, But don’t have costadvantage, So must consider to the cost of enterprise information problems. If the cost is toohigh, is not conducive to the sustainable development of guarantee agencies; If not high inputcosts, it is difficult to obtain effective enterprise information, To increase the management riskof the guarantee agencies, lead to don’t match the benefits and risks. In view of this, based onthe analysis of the business model of efficiency, This article introduce another evaluationstandard--economic value added (EVA), Consider in compensatory rate and loss rate of acertain case, the guarantee organization’s return on capital.Through three guarantees fortheoretical analysis and model test, to reach mutual guarantee mode efficiency is significantlyhigher than the other two guarantee model conclusion. Therefore, this article suggested thatinnovation, small and medium-sized enterprise financing guarantee system of ourcountry.Strive to build an effective system of small and medium-sized enterprise financingguarantee:The system is given priority to with mutual guarantee mode,In the policy guarantee pattern on the macro guidance, In the business model is complementary.
Keywords/Search Tags:Small and Medium-sized Enterprises, Financing Guarantee Mode, Efficiency Evaluation Standard, The Effectiveness
PDF Full Text Request
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