Research On Credit Evaluation Of Chinese Small And Medium-sized Manufacturing Enterprises Based On Financial Indicators

Manufacturing industry is an important basic industry in our country.The prosperity of manufacturing industry has promoted the development of our economy.In recent years,as market competition intensifies,China's manufacturing enterprises,especially small and medium manufacturing enterprises exposed more and more problems,of which the most prominent is the financing.According to the current situation of our country,the main source of the capital of small and medium-sized manufacturing enterprises is commercial bank for a long time,and the credit level of small and medium manufacturing enterprises is the important reference basis for the commercial banks to provide loans to them.However,because of information asymmetry and the immaturity of the current credit evaluation in China,it is necessary to study the credit evaluation of small and medium manufacturing enterprises in order to solve the difficult situation of financing for small and medium-sized manufacturing enterprises.Therefore,this paper adopts the method of combining subjective and objective concepts,referring to the relevant literature at home and abroad as well as the selection of financial indicators by authoritative credit evaluation institutions.New risk indicators are added to the traditional financial evaluation indicators to verify the credit status of small and medium-sized manufacturing enterprises.Impact,and then combined with Delphi expert consultation method,constructed a credit evaluation index system that reflects the six profitability,solvency,and management capabilities of small and mediumsized manufacturing enterprises.After analyzing the advantages and disadvantages of the commonly used credit evaluation methods,it is determined that the factor analysis method is used to construct the credit evaluation model of small and medium manufacturing enterprises based on financial indicators.Finally,innovatively taking all medium and small plate manufacturing enterprises in Shenzhen as the research object,an empirical study was conducted on the credit evaluation model of small and medium manufacturing companies based on financial indicators.The empirical research shows that the credit evaluation model constructed in this paper has good feasibility and practicability,and provides a certain guiding role for evaluating the credit status of small and medium manufacturing enterprises.