Construction And Analysis Of Mutual Guarantee Financing Mechanism Of Multi Period

The financing problem of the small and medium-sized enterprises in our country is increasingly prominent, the mutual guarantee financing based on enterprise clusters development which can avoid the shortcomings of the traditional financing mode in many ways, is the better choice of financing of small and medium sized enterprises. How to design a set of perfect mechanism, to ensure the mutual guarantee organizations can provide continuous financial support for small and medium-sized enterprises in dynamic development, become the current urgent task.To solve the small and medium-sized enterprises’multi period continued funding needs, the paper designs the construction of mutual guarantee financing mechanism of multi period. First, based on mutual shortcomings existed in the development of the financing mode of one period,the paper proposes the conceive the mutual guarantee financing mechanism on multi period, planning and designing the policy supported by the government, members exit rules, multiple sources of funds, information sharing, risk management, reward and punishment and other aspects in detail, to ensure the mutual guarantee organization can be sustained and be in stable operation; Then using the mathematical model and dynamic game model to analyze the mutual guarantee financing mechanism of multi period, the mathematical model analysis showed that the mutual guarantee financing mechanism of multi period can alleviate the difficulties faced by the member enterprise effectively, analyzing the internal environment of credit guarantee organizations by dynamic game model, found that the perfection and the accumulation of social capital plays a vital role in the sustainable development of the multi period; Then based on the previous analysis of mutual guarantee financing problem in China, found that carrying out mutual guarantee financing has a strong comparative advantage in China; At last, for how to promote the mutual guarantee financing model of multi period,the paper puts forward two kinds of suggestions:One is to develop small and medium sized enterprise clusters, to allocate cluster resource optimal. The other is to standardize the operation of mutual guarantee organization, to clarify the responsibility of the government.