Peasants’ Collateral Of Alternative Analysis Based On Signal Transmission

In2011the State Council issued the "guiding opinions on" support to speed up the construction ofCentral Plains Economic Area of Henan province agriculture problems once again put on the agenda."Three rural issues" refers to the agricultural, rural, farmers in these three problems. At the same time isalso related to the national quality, economic development, And closely related to social stability andprosperity of the country. Based on this, the significance of research on rural financial problems highlight.At the present stage, with the rapid development of China’s rural financial economy also appears tochange rapidly changes, but the rural financial repression in the problem solving is not effective in theprocess of development. Therefore, the core of the rural finance is about rural financial repression problem.How to solve this problem, different scholars from different research point of view the conclusions are notthe same. Based on the literature review of existing research found that scholars on the rural financialsuppression on the financial suppression performance, financial restraint causes problems have a moreconsistent results, but in the analysis of these problems are both farmers and financial institutions together,mostly unilateral analysis, thus separating the relationship between the two. Based on it,this paper attemptsfrom the substitution of collateral with the view of farmers’ income structure and economic characteristicsof itself such as the farmers as collateral in the replacement process of farmers’ financing. Whether theincome structure of first use of signaling theory to analysis the economic characteristics of farmers forsubstitution of collateral right, followed by the survey data of1167farmers in2011on the Central Plainseconomic area selected, empirical analysis of the income structure of farmers as the substitution ofcollateral is feasible. The results show that:(1) the income structure of farmers as the substitution ofcollateral has certain feasibility in theory;(2) in the financing process of farmers, the farmers incomestructure and farmers eventually loans also showed a weak correlation;(3) according to the income of thefarmers is different, the farmers’ income structure definition two different types of high quality, namely"household non-farm income/total income of the farmers" ratio>0.5for high-quality farmers,"householdnon-farm income/household total income" ratio≤0.5for low quality of farmers income structure, highproduct quality and farmers’ eventually loans strong correlation the low quality of farmers, income structure and eventually loans showed a weak correlation.The innovation of this paper lies in the substitution of collateral thought (the income structure offarmers) to solve the problem of inhibition in the rural financial market, combined with the signaltransmission theory, discuss its between farmers and financial institutions to alleviate informationasymmetry of the effectiveness and mechanism of action. The empirical part is put forward by the farmersincome structure as the characteristic variables of economic signal, at the same time the farmer creditvolume as the dependent variable is the correlation test, can better reflect the availability of collateralsubstitutes. Finally, it can improve the authenticity and validity of the data collected by the objectiveeconomic data of farmers.