Resrarch On THT Operating Efficiency Of Small Loan Companies

For a long time,because of the influence of the development of China's urban and rural duality structure,the supply shortage and financial repression of China's rural financial market is difficult to be fundamentally resolved.In recent years,with the advancement of China's urbanization process,under the new economy situation,the state vigorously push forward the reform of the supply side,has issued a series of financial reform policies,and strived to improve the rural financial ecological environment,making the financial resources to better serve the economic development of agriculture,rural areas and farmers ".Since the implementation of speed up the development of new type of rural financial institutions from 2006,small loan companies,village Banks,funds and other new financial institutions that private capital participated were booming,but as a result of the high risk of agriculture itself and capital profit-driven,part of small loan companies in recent years in the business process also exposed to the" target deviation from the agriculture " trend,and the operating efficiency is not high,poor internal controls and other defects,such as not conducive to the sustainable development of small loan companies as well as the realization of "support for poverty alleviation" policy.Based on the background,this article research some of the small-loan companies all over the country according to the panel data surveyed by China's small and Micro Finance Research Institute from 2011-2014.First,this article use Stochastic Frontier Analysis and Malmquist conjunctively to measure total factor productivity and its structure of small-loan companies.Second,use Stochastic Frontier Analysis to analyze cost efficiency and profit efficiency and their influencing factors.It has verified the influence mechanism of loan amount,loan structure and regional difference to the profit of small-loan companies.Last,this article put forward suggestions on how to improve operating efficiency of small-loan companies based on the conclusions.The logic structure of the article is as follows:Chapter 1 is introduction.This chapter mainly introduces the background,objectives and significance,literature,methods,technical route and innovations.Chapter 2 is theory and methods about small-loan companies operating efficiency.This chapter introduces the definition and categories of operating efficiency and common empirical analysis methods.Chapter 3 is current situation of small-loan companies.This chapter introduces developing situation of small-loan companies and rural financial institutions,including regional comparison and the existing problems.Chapter 4 is small-loan companies total factor productivity and its decomposition.According to panel data from 2011-2014,uses SFA-Malmquist to measure and decompose total factor productivity of small-loan companies,and make comparative analysis of small-loan companies form different region.Chapter 5 is cost efficiency and profit efficiency and their influencing factors analysis.According to the panel data from 2011-2014,uses BC(1995)Model to empirically analyze small-loan companies' cost efficiency and profit efficiency and their influencing factors.And then it has examined the function of relative factors to the cost control and profit ability.Chapter 6 is conclusion and suggestions.This chapter summarizes the conclusions and put forward relevant suggestions.