信用评级、惩罚成本与小微企业融资  

Credit Rating,Punishment Cost and Small Micro Enterprise Financing

作　　者：肖莎[1] 陈希敏[1] 王伟雄[1] 

机构地区：[1]西北大学经济管理学院,陕西西安710127

出　　处：《预测》2017年第3期69-73,共5页Forecasting

基　　金：国家自然科学基金青年资助项目(G0301);陕西省社会科学基金资助项目(2014D02)

摘　　要：本文针对小微企业融资问题,通过构建演化博弈模型,引入信用评级和惩罚成本进行分析,提出金融机构通过信用评级和惩罚成本设计贷款机制,可以提高经济活动中遵守道德准则的小微企业比重,从源头控制信用贷款风险。同时,本文利用P2P网贷平台Funding Circle进行案例分析,结果表明FC公司的贷款机制降低了高风险企业申请贷款的比例,促使项目成功的企业正常履行还本付息义务,并且放贷资金的回收率稳定在一个较高水平。本文的研究结论为破解小微企业融资问题提供了思路。In this paper, it introduces a new method to solve the problem of small micro enterprise financing. By constructing a dynamic game theory model and introducing credit rating and penalty cost analysis, this new approach can be applied to help financial institutions develop a lending facility by analyzing credit rating and penalty costs to increase the proportion of complying code of ethics small micro enterprises and control the risk from the source. This paper also uses P2P internet lending platform Funding Circle as a case study, from its result, it demonstrates FC company＇s lending facility reduced the proportion of high-risk enterprises to apply for loans and prompted companies with successful projects to fulfill their debt obligations, also the lending recovery rate stayed at a relatively stable and high level. Base on the analysis and conclusion, this paper provides a new solution for small micro enterprise financing problem.

关 键 词：信用评级 惩罚成本 小微企业融资 P2P网贷平台 

分 类 号：F224.32[经济管理—国民经济]