中小制造企业信用评级研究

发布时间：2018-05-11 21:21

本文选题：中小制造企业 + 指标选取　；参考：《天津大学》2014年硕士论文

【摘要】：中小制造企业在我国经济建设与社会发展中做出了突出的贡献,然而我国至今尚未形成一种以特色技术为依托,以专业化协作为配套的中小制造企业格局,中小制造企业的发展面临着很多问题,其中企业融资难问题最为突出,而融资难的根本原因是中小制造企业的信用问题。中小制造企业外部融资渠道仍以银行贷款为主,但是信息不对称问题普遍存在于银行和中小制造企业之间,银行在考察中小企业信用状况时采用和大型企业同样的信用评级标体系,这种评级体系显然有失公平。基于此我们要结合中小制造企业的特点建立专门的信用评级体系,从而有利于解决企业融资难题。本文首先从中小制造企业在我国经济建设与发展浪潮中不可或缺的地位出发,分析中小制造企业的重要作用以及信用状况,认为中小制造企业的信用危机是阻挠中小企业发展的关键性问题,并进一步提出对中小制造企业进行信用评级的必要意义。其次,充分研究了信用评级指标的筛选原则与步骤,并以国内外信用评级机构——穆迪、标准普尔、中诚信、大公国际的指标体系设计理念为借鉴,设计中小制造企业信用评级指标体系。再次,选取80家在中小企业板上市的制造型企业为实证研究对象,利用SPSS19.0对样本数据进行因子分析,构建了中小制造企业信用评级模型,并利用因子综合得分进行聚类研究,确定了信用评级标准。最后,通过实证研究得到中小制造企业中信用状况极好和极差的都是少数,大多数企业的信用等级集中在BBB及BBB以下;通过分析得到,信用等级偏高的企业盈利能力比较好,信用等级偏低的企业成长能力比较好,但是绝大多数企业偿债能力十分欠缺,这与现实情况基本吻合。根据研究结果分别从企业、银行、外部体系建设方面提出了发展中小制造企业信用评级的建议。
[Abstract]:Small and medium-sized manufacturing enterprises have made outstanding contributions to the economic construction and social development of our country. However, China has not yet formed a pattern of small and medium-sized manufacturing enterprises based on characteristic technology and supported by specialized cooperation. The development of small and medium-sized manufacturing enterprises is faced with many problems, among which the financing difficulty is the most prominent, and the root cause of the financing difficulty is the credit problem of small and medium-sized manufacturing enterprises. The external financing channels of small and medium-sized manufacturing enterprises are still mainly bank loans, but the problem of information asymmetry generally exists between banks and small and medium-sized manufacturing enterprises. Banks use the same credit rating system as large enterprises when examining the credit status of small and medium-sized enterprises, which is obviously unfair. Based on this, we should combine the characteristics of small and medium-sized manufacturing enterprises to establish a special credit rating system, which is helpful to solve the financing problems of enterprises. Starting from the indispensable position of small and medium-sized manufacturing enterprises in the tide of economic construction and development in China, this paper first analyzes the important role and credit status of small and medium-sized manufacturing enterprises. It is considered that the credit crisis of small and medium-sized manufacturing enterprises is the key problem that hinders the development of small and medium-sized enterprises, and the necessary significance of credit rating for small and medium-sized manufacturing enterprises is put forward. Secondly, the selection principles and steps of credit rating index are fully studied, and the design concept of index system of Moody's, Standard & Poor's, Zhongxin and Dagong International is used for reference. Design small and medium-sized manufacturing enterprises credit rating index system. Thirdly, select 80 manufacturing enterprises listed on SME board as the empirical research object, use SPSS19.0 to analyze the sample data, construct the credit rating model of small and medium-sized manufacturing enterprises, and use factor synthesis score to cluster research. Credit rating criteria have been established. Finally, through empirical research, it is found that the credit status of small and medium-sized manufacturing enterprises is very good and extremely poor, most of the enterprises' credit rating is below BBB and BBB, and through the analysis, the enterprises with high credit rating have better profitability. The growth ability of enterprises with low credit rating is good, but most of them are very short of debt service ability, which is basically in line with the actual situation. According to the research results, the paper puts forward some suggestions on credit rating of developing small and medium-sized manufacturing enterprises from the aspects of enterprise, bank and external system construction.
【学位授予单位】：天津大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F425;F832.4

【参考文献】