Research On Credit Risk Assessment Of The Technology-based SMEs

Technology-based SMEs are an important force in promoting China's economic transformation,and have made considerable contributions to scientific and technological innovation and transformation of technological achievements.However,such enterprises are still faced with certain financing difficulties.In the early stage of the establishment of technology-based SMEs,activities such as technology research,achievement transformation and product promotion will consume a large amount of capital but only generate a small amount of income.At this time,the capital demand of enterprises is large and the risk is high,and it is very difficult to obtain high-quality financing.Most enterprises mainly rely on their own funds and private lending to maintain their operations,and the amount of bank loans available is far from enough.One of the main reasons for the difficulty in credit financing of technology-based SMEs is the difficulty in credit risk assessment.Compared with general enterprises,small and mid-sized technological enterprise throughout its life cycle are faced with technical risk,and has strong professional technology,science and technology enterprises of different technology and each are not identical,it is difficult for lending officers to determine the size of the technical risk.At the same time,the small and medium-sized technological enterprises still have the problems of imperfect financial system and unprofessional operation and management.The financial risk,operational risk and technical risk of enterprises are also correlated,which makes it more difficult to evaluate the credit risk of technology-based SMEs.Due to the strict risk management system of commercial Banks,the difficulty in credit risk assessment of technology-based SMEs is a major obstacle to their credit financing.If the credit risk of such enterprises can be accurately assessed,the difficulty in credit financing will be alleviated to a large extent.This paper introduces three types of enterprise credit risk assessment methods and analyzes their advantages and disadvantages:The expert appraisal method has strong subjectivity and low accuracy.The credit risk assessment method based on artificial intelligence is technically difficult,costly and has model risk,which is not suitable for small and medium-sized Banks.The Logistic regression model of the statistical method does not rely on the economic and financial theory,and it is very suitable for assessing the credit risk of small and medium-sized technological enterprises,assuming that the conditions are loose and there is a natural critical point for judgment.In the process of empirical analysis,it is found that technological innovation ability,profitability,operation ability and growth have a great impact on the credit risk of technology-based SMEs,The model established by empirical analysis has a good ability to distinguish between in-sample data and out-of-sample data,which indicates that the index system established in this paper is scientific to a certain extent,and also proves the applicability of Logistic regression model in evaluating the credit risk of technology-based SMEs.Finally,the paper puts forward some suggestions for commercial banks to carry out credit risk assessment of small and medium-sized technology-based enterprises.It is believed that Banks can classify credit risks of such enterprises according to technical fields and formulate corresponding loan policies according to the characteristics of regional economic development.The bank should also establish a credit risk database for technology-based SMEs and,if necessary,cooperate with external institutions to assess the technological risks of enterprises.Small and medium-sized technology enterprises should also strive to reduce their credit risk,establish a sound financial system and organizational management system and comprehensive use of a variety of financing methods.