基于企业生命周期的科技型小微企业信贷融资机制

发布时间：2018-01-10 21:00

本文关键词：基于企业生命周期的科技型小微企业信贷融资机制　出处：《系统工程》2017年01期 　论文类型：期刊论文

【摘要】：本文从科技型小微企业发展周期视角,构建科技型小微企业不同发展阶段的信贷融资机制的多阶段演化博弈模型,通过理论分析和计算机仿真分析,探讨处于不同发展阶段的科技型小微企业信贷融资的演化状态。研究结果表明:(1)及时还款科技型小微企业的期望收益同平均收益的差额以及科技型小微企业由于违约所支付的罚金同违约给银行带来的损失之间的差额是影响演化稳定策略(ESS)的两类关键因素;(2)当科技型小微企业及时还款策略的期望收益同平均收益的差额为正值时,科技型小微企业由于违约所支付的罚金同违约行为给银行带来的损失的差额对于科技型小微企业信贷融资的最终稳定状况的影响较小,不管差额为正值还是负值,科技型小微企业信贷融资的演化稳定策略(ESS)始终为(1,1);(3)在信贷融资契约设计中,提高科技型小微企业违约成本,使其支付罚金能够弥补由于违约给商业银行带来的损失,能够营造良好的信贷融资环境,从而为更多科技型小微企业提供资金支持服务。上述研究结论的提出,对处于不同发展阶段的科技型小微企业的信贷融资及其商业银行信贷行为提供理论参考和借鉴,同时也完善和发展了科技型小微企业投融资理论。
[Abstract]:In this paper, from the perspective of the development cycle of science and technology small and micro enterprises, the multi-stage evolution game model of credit financing mechanism in different stages of development of science and technology small and micro enterprises is constructed, and through theoretical analysis and computer simulation analysis. This paper discusses the evolution of credit financing of science and technology small and micro enterprises at different stages of development. The difference between the expected return and the average return of the technology-based microenterprise and the difference between the fine paid by the technology-based microenterprise due to the default and the losses caused by the default are the influence of the evolutionary stability strategy. Two kinds of key factors of ESSs; (2) when the difference between the expected return and the average return of the timely repayment strategy is positive. The difference between the fine due to the default and the loss caused by the default has little effect on the final stability of the credit financing. Whether the difference is positive or negative, the evolutionary stabilization strategy of credit financing of small and micro tech enterprises (ESSs) is always the same. 3) in the design of credit financing contract, it is necessary to raise the cost of technical small and micro enterprises' breach of contract, so that they can make up for the losses caused by default to commercial banks and create a good credit financing environment. In order to provide more small and technological enterprises with financial support services. It provides a theoretical reference for the credit financing and commercial bank credit behavior of small and micro enterprises in different stages of development. At the same time, it also perfects and develops the theory of investment and financing of science and technology small and micro enterprises.
【作者单位】：江苏大学财经学院;苏州经贸职业技术学院会计与国贸学院;
【基金】：国家软科学研究计划项目(2012GXS4D115) 国家自然科学基金资助项目(71371087)
【分类号】：F276.3;F832.4
【正文快照】： 1引言科技型小微企业是指从事高科技、高附加值产品的研发、加工、销售、咨询与服务,对核心技术拥有自主知识产权,营业收入主要依赖对拥有知识产权实践转化后的销售或服务得一类特殊企业群体,其在上下游产业发展中具有显著的集群特征。当前科技型小微企业已成为我国推动经济结

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