China Commercial Banks For Technology Type Small And Medium-sized Enterprises Loan Pricing Research

At present,small and medium-sized enterprises are the most innovative and the largest group of enterprises in China.It has an irreplaceable role in promoting innovation,economic growth,increasing tax revenue,improving people's livelihood and absorbing employment,among which the technology-based SMEs play a decisive role.The booming development of technology-based SMEs cannot be separated from the support of funds,but the phenomenon of "Sparing Loan" to technology-based SMEs is becoming more prominent.The research indicates that the loan expected return of small and medium-sized enterprises is difficult to compensate for expected risk,which is the main reason that financial institutions are not motivated to develop the credit business of small and medium-sized enterprises.At the same time,the reform of interest rate liberalization in China has existed for twenty years.With the complete liberalization of deposit rates,China's interest rate liberalization has been basically completed by the end of 2015.While interest rate liberalization gives commercial Banks greater autonomy,they also test the independent pricing power of commercial Banks.Under this background,it is significant to study the loan pricing of commercial Banks to technology-based SMEs.This paper is based on the analysis of the domestic and foreign literature of the loan pricing and technology-based SMEs,analyzed some foreign loan pricing methods and pricing of China's current status and defects.And from the enterprise,the bank itself and the external macro environment analyzes the influence factors of technology-based SMEs loan pricing,found some foreign pricing models for risk revealing model has more advantage than domestic,and chooses the RAROC model as the empirical basis of this model,and further explains the shortcomings of the existing models on the measurement of default probability,we use KMV model to calculate the probability of default of this variable.Then this paper selects a representative commercial bank and 20 technology small and medium-sized enterprises listed on the new third board as samples for empirical research,The empirical results show that 16 of the 20 companies calculated based on the model were higher than the real lending rate of the bank,and only four were lower than the actual lending rate.This illustrates the bank's current pricing mechanism can easily lead to underestimate loan risk,and using the method of combining the RAROC and KMV model to carry on the loan pricing,can be fully covered and risk compensation,helps to improve our country commercial bank risk control ability and raises the service efficiency of funds.Finally,this paper combined with the real situation in our country,puts forward some relevant Suggestions,including the development of science and technology of small and medium-sized enterprise service the specialized agencies,establish and improve the science and technology of small and medium-sized enterprises credit markets database,introduce high-end talents with professional level,enhance their awareness of the importance of customer credit resources,etc.It is not only the financial development of our country science and technology,the implementation of innovation to drive the national strategy has positive significance,but also for the commercial bank loan pricing theory under the background of the current supplement and improvement has certain guiding significance.