Research On The Compensation Risk Of The Agriculture-related SMEs Loan Guarantee

The credit guarantee system can improve the creditworthiness of SMEs involved in agriculture,reduce the loan risk of financial institutions,increase the supply of funds to SMEs involved in agriculture,and optimize the allocation of credit resources.For the guarantee institution,how to identify the risk of compensation for the loan guarantee of the agriculture-related small and medium-sized enterprises,guarantee the risk management of the guarantee,and reduce the guarantee compensation rate are the core issues for ensuring the sustainable and stable operation of the guarantee institution.The basic function of the small and medium-sized loan guarantee for agriculture is to increase the creditworthiness of the agricultural-related SMEs and the possibility of obtaining loans,including alleviating credit rationing,diversifying business risks,reducing transaction costs,and improving credit ratings.The guarantee company passes the guarantee contract,which actually shares part of the operational risk for the financial institution.The compensation risk of the agriculture-related SME loan guarantee refers to the SMEs as the main body of the loan,and the guarantee company as the main body of the guarantee.When the SMEs are unable to pay off the loan and the loan defaults,the financial institution requests the guarantee company as the intermediary.Therefore,the risk of compensation arises from credit risk,but it is different from credit risk.According to the operation database of a small and medium-sized enterprise financing guarantee company,this paper selects the agriculture-related enterprises from 2014 to 2016 as a sample,and establishes a logistic regression model and empirical analysis.The results show that:(1)the loan comprehensive interest rate has significant significance to the loan guarantee compensation probability.The impact of the increase in the comprehensive interest rate of the loan will significantly increase the probability of loan guarantee compensation;(2)the amount of loan(guarantee)also has a significant impact on the probability of loan guarantee compensation,and the increase in the amount of loan(guarantee)will increase the risk of loan guarantee compensation.(3)The type of enterprise also has a significant impact on the probability of loan guarantee compensation.Compared with non-agricultural small and medium-sized enterprises,the probability of default of credit guarantee for agricultural-related enterprises is lower;(4)the total asset profit rate has a significant impact on the loan guarantee compensation probability.The increase in the total asset profit rate can significantly reduce the probability of loan guarantee compensation;(5)the type of financial institution has a significant impact on the probability of loan guarantee compensation.Compared with small and medium financial institutions,the five major banks of agricultural loans for agricultural loans The possibility of guarantee compensation is higher;(6)The marital status of the sponsored corporate legal person has a significant influence on the probability of loan guarantee compensation,and the marital status is more likely to default than the divorced or unmarried marital status.For the guarantee company,to control the loan guarantee compensation risk,it is necessary to pay close attention to the characteristics of the enterprise and pay attention to the source of the loan first repayment.At the same time,a suitable level of comprehensive interest rates is necessary for risk control.It should be fully recognized that if the SMEs in the agriculture undertake excessively high interest rates,either because the financial institutions charge high interest rates or because the guarantee companies charge high guarantees.The rate may increase the loan guarantee rate.To strengthen the risk management of loan guarantee for agricultural and industrial enterprises,it is necessary to improve the internal risk management mechanism of the guarantee institution and optimize the external development environment of the financing guarantee industry.To improve the internal risk management mechanism of guarantee institutions,it is necessary to improve the risk management degree,improve the level of management and control technology,strengthen the warning risk warning,optimize the design of guarantee contracts,and reasonably determine the market positioning.To optimize the external development environment of the financing guarantee industry,it is necessary to optimize the cooperation mechanism of the bank,continuously improve the re-guarantee mechanism,and establish a financial compensation mechanism.