Small And Medium-sized Enterprises From The Perspective Of Supply Chain Finance Research On Credit Risk Evaluation

As the most economically dynamic market economy,SMEs play a vital role in the process of my country’s economic development.Their loans have achieved rapid growth,and their financing needs are strong.Due to information asymmetry and insufficient collateral for financing enterprises,financial institutions will set many restrictions when financing small and medium-sized enterprises,which will lead to difficulties in financing when small and medium-sized enterprises have capital needs.The supply chain finance model integrates many aspects,and financial institutions can conduct a comprehensive assessment of financing companies by examini ng the entire supply chain to reduce the risk of bad debts.At the same time,small and medium-sized enterprises can rely on core enterprises and other enterprises in the supply chain to provide them with guarantees,improve the probability of their succes sful financing from financial institutions,and solve the problem of financing difficulties to a certain extent.From the perspective of supply chain finance,on the premise of sorting out the literature on supply chain finance credit risk,related models,index construction and selection,this paper conducts an in-depth analysis of the formation mechanism of credit risk of small and medium-sized enterprises,explores credit risk evaluation methods and compares them..Secondly,analyze the influencing fact ors from multiple perspectives,and compare financial indicators with non-financial indicators from four aspects: the status of SMEs themselves,the status of core enterprises in the supply chain,the relationship of the supply chain where SMEs are located,and the status of debt assets.Combined to build an indicator system,risks can be identified comprehensively and effectively.In the empirical analysis part,this paper selects the representative automobile industry in the supply chain relationship.Fro m 2015-2019,60 small and medium-sized board listed companies in the automotive industry were selected as the research objects.Principal component analysis method,Lasso method and Elastic Net method were used to reduce the dimension of the data,and then combined with the Logistic regression model for prediction.Thirdly,the Logistic regression model,the Lasso Logistic regression model and the Elastic Net Logistic model which have been reduced in dimension by the principal component analysis method are compared and analyzed.The research results found that external factors such as the financial status of SMEs,the credit status of core enterprises,the status of creditor’s rights and assets,and the supply chain relationship between enterprises will affe ct the credit risk assessment of SMEs;the Elastic Net Logistic model has the highest prediction accuracy,The model outperformed the Lasso Logistic regression model and the Logistic regression model.Finally,this paper puts forward suggestions from the a spects of improving the corresponding supervision system,establishing and improving the information sharing mechanism,establishing and improving the indicator system,etc.,which can provide reference for financial institutions to prevent and control cre dit risk and strengthen credit risk management.