Study On Conflicts Of Interest And Risk Sharing Mechanism Of SMEme Credit Guarantee System

SME credit guarantee institutions play an important role on promoting SME financing. However, due to the late start of the establishment, SME credit guarantee system in our country has not been well developed. It has high risk level and problems of asymmetric returns. The risks produced in the course of the credit guarantee are largely brought by the credit guarantee institutions. So the study of conflicts of interest and risk sharing mechanism of SME credit guarantee system is very important.In this study, static game of incomplete information is used to analyze the behavior between SME and guarantee agencies and incomplete information dynamic game to analyze the behavior of SME, banks and guarantee agencies. Bargaining model is used to analyze risk sharing mechanism.We have several conclusions: firstly, different subjects have different interests and different subjects do their business under the drive of different interests. Secondly, social benefits, loan amount and default penalties affect the behavior of SME. The probability of the enterprise abiding by the contract, the guarantee rate and default penalties affect the behavior of guarantee institutions. The lending behavior of the bank is affect by the bank's judgment of the risk status of the enterprise. Thirdly, consumption coefficient will not also affect the risk-sharing, but reflects the individual patientdegree. In order to promote the development of SME credit guarantee system, we should strengthen risk prevention and enhance the quality of employees,we also should establish a reasonable risk-sharing mechanism.