基于267家中小企业信贷融资数据的信息不对称研究
发布时间：2019-01-07 17:31
【摘要】：本文引进信息不对称相关理论阐述了我国中小企业融资难问题的一大症结所在,同时通过实证研究分析测算出实践当中信息不对称对商业银行信贷行为的具体影响程度和表现形式。本文的创新之处在于对RAROC (Risk Adjusted Return on Capital,以下中文简称为“风险收益率”)概念的运用,通过对国内某商业银行现有的267家中小企业信贷客户的风险收益率的比较分析,发现银行对于熟悉的客户往往愿意接受较低的风险收益率,而对不熟悉中小企业客户的授信则反映出普遍较高的风险收益率。这一发现意味着,银行所不熟悉的中小企业相对更有可能被逐出信贷市场且得不到贷款。本文的研究,从实证角度验证了信息不对称是造成中小企业遭遇“信贷约束”的主要原因之一。
[Abstract]:This paper introduces the theory of information asymmetry to explain the crux of the problem of financing difficulties for small and medium-sized enterprises in China. At the same time, through the empirical analysis, the paper estimates the specific impact of asymmetric information on the credit behavior of commercial banks. The innovation of this paper lies in the application of the concept of "risk rate of return", which is referred to as "risk rate of return" in the following Chinese version of RAROC (Risk Adjusted Return on Capital, through the comparative analysis of the risk rate of return of credit customers of 267 small and medium-sized enterprises in a domestic commercial bank. It is found that banks tend to accept lower risk returns for familiar customers, while credit for unfamiliar SME customers reflects generally higher risk returns. The finding suggests that small and medium-sized businesses that banks are unfamiliar with are relatively more likely to be driven out of credit markets and denied access to credit. This paper verifies that information asymmetry is one of the main reasons for SMEs to encounter "credit constraints" from an empirical point of view.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.4
本文编号：2403934
[Abstract]:This paper introduces the theory of information asymmetry to explain the crux of the problem of financing difficulties for small and medium-sized enterprises in China. At the same time, through the empirical analysis, the paper estimates the specific impact of asymmetric information on the credit behavior of commercial banks. The innovation of this paper lies in the application of the concept of "risk rate of return", which is referred to as "risk rate of return" in the following Chinese version of RAROC (Risk Adjusted Return on Capital, through the comparative analysis of the risk rate of return of credit customers of 267 small and medium-sized enterprises in a domestic commercial bank. It is found that banks tend to accept lower risk returns for familiar customers, while credit for unfamiliar SME customers reflects generally higher risk returns. The finding suggests that small and medium-sized businesses that banks are unfamiliar with are relatively more likely to be driven out of credit markets and denied access to credit. This paper verifies that information asymmetry is one of the main reasons for SMEs to encounter "credit constraints" from an empirical point of view.
【学位授予单位】：复旦大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.4
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