Research On Credit Risk Of High-tech SMEs' Venture Debt Of Commercial Banks

Our country commercial banks to carry out venture debt business not only effectively deal with the high-tech SMEs' financing plight and promote its steady development;but also expand its own strategic customers and optimize the structure of customers.On the same time,promote its business transformation and realize integrated management.However,venture debt of our country commercial banks is still in the early stage of development,which the imperfect credit risk management restricts its further development.Therefore,studying credit risk of venture debt has very important significance based on the perspective of high-tech SMEs' credit service.In this paper,the research content is as follows:Firstly,this paper analyzes the formation of credit risk of high-tech SMEs' loan business from the three theories: information asymmetry theory,principal-agent theory and transaction cost theory and the cause of high-tech SMEs' credit risk from the following aspects: financial information is not transparent,lack of collateral and unequal cost benefit analysis,also combs the various influence factors of high-tech SMEs' credit risk through literature reading.At the same time,this paper summarizes our country commercial banks venture debt development stage?business mode and advantages and disadvantages of different models,and analyzes the difference of THESIS: Research on Rredit Risk of High-tech SMEs'Venture Debt of Commercial Banks SPECIALIZATION: Master of Finance POSTGRADUATE: Chen Xuezhi MENTOR: Prof.Binqing Xiao traditional credit service and venture debt from the risk and income aspects.This paper points out that venture debt breaks through the traditional credit service's inherent management culture which risk constraint and cost benefit allocation is single.Secondly,this paper uses the orderly multiple logistics model to analyze that commercial banks use venture debt whether can influence the credit risk of high-tech SMEs' credit business.This analyze demonstrates the empirical assumption that in the credit business of high-tech SMEs,venture debt which commercial banks use can influence the credit risk of high-tech and venture debt will effectively reduce the credit risk of SMEs in the credit business.Finally,this paper explains the reason of venture debt reducing the credit risk of high-tech SMEs' credit business from the three aspects: business model,credit scheme and risk management through the research of the N bank.And this paper points out that venture debt of the N bank exists three problem: business model is single?credit scheme is rigid and risk management is imperfect through the M company's process of business plan design?adjustment and determination of the N bank,which affect the impact effect of venture debt,taking on high-tech SMEs' credit risk in credit business.This paper puts forward the corresponding advices for China's commercial banks' venture debt,giving full play to venture debt's advantage in reducing the credit risk of high-tech SMEs' credit business.First,establishing and perfecting the policy specification.Second,perfecting supporting mechanism.Third,perfecting mechanism of credit risk management.Fourthly,building professional team.