Based On The Credit Risk Of The KMV Model Research The Small And Medium-sized Boards Of Listed Companies In Our Country

The current situation, the world economy’s performance is generally weak, theglobal economy is in after adjustment the crisis。It also makes the future development ofthe current international economic prospects is difficult to predict and grasp whole;Domestic original competitive advantage, the momentum gradually weakened, newadvantage has not been formed, unstable market confidence and expectations, andeconomic operation in the process of seeking new balance.Debt crisis and credit crisis may be in China, the emergence of a large area,combined with the western economic downturn in the euro area, in particular, Chinaon foreign exchange and foreign bonds have caused a large area of impact, the realestate market also continued downturn, China’s commercial Banks and other financialinstitutions in the crisis facing serious blow.Small and medium-sized enterprises of our country provides60%of GDP and90%of employment, this group in promoting the whole of China, the world’s commercialcivilization. However, rising labor costs, financing is still very difficult, no money,borrow less than money phenomenon is still quite popular, how to help small andmedium-sized enterprise better and faster growth, have what good method, strategy andpolicy, this is our country faces significant problems. Small and medium-sizedenterprise is promote national economy development, the structure of the marketeconomy the main body, promote social stability foundation strength. Especially atpresent, to ensure moderate growth, relieve employment pressure, realize nationaleconomy, optimizing the economic structure, relying on science and education areplaying an increasingly important role. Therefore, our country has the support to thedevelopment of small and medium-sized enterprises, especially small enterprisesindustry upgrading guidance as a strategic task to grasp. However, due to the small and medium-sized enterprises with weak corporategovernance, financial management is not perfect, for lack of collateral and othercharacteristics, small and medium-sized enterprise loan credit risk is higher, coupledwith the small and medium-sized enterprise credit scale small, the high cost of financing,small and medium-sized enterprises (smes) has been a bank loan, under the backgroundof the credit squeeze, the threshold of the bank loans more and more is also high.This study to our country small and medium-sized plate of listed companies need tostrengthen credit risk management of the actual situation, and communities to work onsmall and medium-sized plate of listed companies in order to pass the KMV model ofcredit risk measurement methods, for the small and medium-sized enterprise credit riskeffective reasonable evaluation for the purpose, provide the decision-making basis forBanks and other financial institutions, change the financing difficulties of small andmedium-sized enterprises, promote the development of small and medium-sizedenterprises.