Research And Empirical Analysis On Cre Dit Risk Of Small And Medium Sized Ente Rprises

In recent years,with the support of the development of small and medium-sized enterprises of our country the multi-level capital market grows fast,including the OTC market,the National SME share transfer system(the new board),and the regional equity market.The new board in recent years develops rapidly,the number of listed companies is about to break 10000.For small and medium-sized enterprises,corporate governance norms,standardized financial management,corporate investment and financing business,the new board has played a very positive role.This thesis taking small and medium-sized enterprises in the new three board listing as the research object,analyzes the current development of SME debt financing.Using the financial data and basic information screening in three new board market,this thesis selected 34 2016 debt default of small and medium-sized enterprises and 68 normal businesses to analyze the influencing factors of credit risk.The analyzing method includes statistical analysis,descriptive analysis and Logistic model.The results show that the effect of return on assets,gross profit rate,debt protection ratio and other financial indicators for enterprise credit risk significantly,in addition,the registered capital of the enterprise management,the specialization of management all impact the enterprise credit risk remarkably.Finally,in order to improve the credit risk management of small and medium-sized enterprises,the thesis puts forward some suggestions on the angle of financial institutions and policy.