基于信用增进视角的中小企业融资研究

发布时间：2018-03-27 19:01

  本文选题：中小企业　切入点：债权融资　出处：《云南大学》2016年硕士论文

【摘要】：当下中小企业规模逐渐扩大以适应产业转型目标,其融资问题成为越来越大的困扰。日渐使得中小企业无法顺利协调自身长远的发展。这已经成为经济加速的制约因素。因此本从信用增进的角度对中小企业融资问题展开分析,并依托我国正学习欧美构架的更有公信力的信用评级体系的前提。将增进中小企业主体信用等级,合理分散融资风险做为推动中小企业摆脱融资困境的对策。同时努力学习西方先进资本市场在处理中小企业信用增进方式中的最新理论和实践,联系中国经济发展现状,意图得出一些切合实际的对策。本文基于我国中小企业以及直接和间接融资市场的现状,分析更加符合我国中小企业特点的多种融资方式。并从信用增进的视角探究金融创新对解决这个难题的重大意义。本文应用Z值模型与MKV模型对企业信用评级增进对融资成本及违约率的影响做出模型检验,并结合实际案例分析信用增进在金融市场中的运用。无论是金融机构还是政府,都需要在这一问题上做更多的努力,而不能单靠企业自身。加快建设完善的信用评级体系,力求通过客观准确的信用评价制度来为解决这一难题营造良好的宏观环境。本文所做研究能为解决企业的这一难题提出些许有意义的意见,为我国经济的发展做贡献。
[Abstract]:At present, the scale of small and medium-sized enterprises is gradually expanded to adapt to the target of industrial transformation. Its financing problem has become more and more puzzling. Increasingly, small and medium-sized enterprises are unable to coordinate their long-term development smoothly. This has become a constraint to the acceleration of the economy. Therefore, this paper analyzes the financing problems of SMEs from the perspective of credit enhancement. Relying on the premise that our country is learning from the more credible credit rating system set up in Europe and the United States, it will enhance the credit rating of the main body of small and medium-sized enterprises. Reasonable diversification of financing risk is the countermeasure to push SMEs out of financing predicament. Meanwhile, we should study the latest theory and practice of western advanced capital market in dealing with the ways to enhance the credit of small and medium-sized enterprises, so as to connect with the current situation of China's economic development. This paper is based on the current situation of SMEs and direct and indirect financing markets in China. This paper analyzes various financing methods which are more suitable to the characteristics of small and medium-sized enterprises in China, and probes into the significance of financial innovation in solving this problem from the perspective of credit enhancement. This paper applies Z value model and MKV model to enhance the credit rating of enterprises. The impact of financing cost and default rate on the model test, And combining with actual cases to analyze the application of credit enhancement in the financial market. Both the financial institutions and the government need to do more on this issue, rather than relying solely on the enterprises themselves to speed up the construction of a sound credit rating system. Through objective and accurate credit evaluation system to create a good macro environment to solve this problem. The research in this paper can put forward some meaningful opinions to solve this problem of enterprises and contribute to the development of our country's economy.
【学位授予单位】：云南大学
【学位级别】：硕士
【学位授予年份】：2016
【分类号】：F276.3;F832.4
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本文编号：1672817