基于担保市场业务的小微企业信用评级模型的探究

RESEARCH ON CREDIT RATING MODEL OF SMALL AND MICRO BUSINESSES BASED ON GUARANTEE MARKET BUSINESS

丁璇

11649037

硕士

金融

陈琨

2018-05-31

2018-7-11

哈尔滨工业大学

深圳

在我国的经济发展中，小微企业作为经济发展强有力推动者，在整个经济建设中处于十分重要的地位。根据最新的统计数据，我国中小微企业数量在企业总数占比已经超过了 99%，同时小微企业也为国内青年求职者提供出大量的就业岗位，是吸纳就业的主要力量。然而，小微企业在寻求自身发展的过程中，面临诸多困难，尤其是其外部融资难、融资贵问题，已经严重阻碍了小微企业的可持续发展。所以本文以已有的信用评级相关研究和国际通用的评级准则基础，结合小微企业特点，建立一套适合担保市场业务的小微企业信用评级体系模型。本文通过查阅国内外企业信用评级的相关文献，深入了解已有研究成果和评级工作实际操作中存在的问题。以企业信用评级理论和融资担保理论作为理论基础，将担保行业和小微企业截至目前发展情况作综合考虑，通过选取科学、合理的方法，尝试构建一套以担保市场业务为基础的小微企业信用评价的指标体系。本文的信用评级模型构建过程包括三个步骤：首先考虑到国内小微企业普遍的经营特点，参考以往学者的一些研究成果，形成一个信用评价指标体系的雏形，由于大量的小微企业样本数据难以得到且缺乏准确性，所以本文设定研究对象为深交所中小板和创业板经筛选的共计 117 家中型及以下的企业财务数据,并从变差系数以及相关系数角度对指标进行分析和改善；二是采用定性分析与定量分析相结合的层次分析法确定财务指标及非财务指标的权重；三是针对指标性质的不同，对于定量指标选择综合运用线性加权和法，对于定性指标选择模糊数学综合评价法，从而算出评级对象的信用得分，完成模型最终的构建。文章的最后，对小微企业信用评级进行了总结和展望。虽然从操作性来看，本文构建的信用评级模型具有一定的可操作性与有效性，但是仍需要实际应用的检验。

In the economic development of China, small and micro enterprises play a very important role as a powerful promoter of economic development in the whole construction of economic. According to the latest statistics, the number of small and medium enterprises in China has exceeded 99% of the total number of enterprises. At the same time, the small and micro enterprises also provide a large number of jobs for the young job seekers in China, which is the main force of absorbing the employment. However, in the process of seeking their own development, small and micro enterprises are facing many difficulties, especially the difficulties of external financing and financing expensive, which have seriously hindered the sustainable development of small and micro enterprises. So the purpose of this paper is to establish a suitable model of small micro enterprise credit rating system for guarantee market business on the basis of existing credit rating related research and international general rating criteria and combining the characteristics of small and micro enterprises.Based on literature review of enterprise credit rating at home and abroad, this article will thoroughly understand existing research results and the problems existing in the actual operation of rating work. Taking the theory of enterprise credit rating and financing guarantee theory as the theoretical basis, this paper makes a comprehensive consideration of the development situation of the guarantee industry and small and micro enterprises and tries to construct a set of index system for the credit evaluation of small and micro enterprises based on the guarantee market business by selecting scientific and reasonable methods.The construction process of the credit rating model of this paper contains three steps: first, taking the general operational features of small and micro enterprises into account and referring to some researching results of previous scholars to form a comprehensive index system of credit rating model. Because a large number sample data of small and micro enterprise are difficult to obtain and most of these data areinaccuracy. So the research object is the financial number of the 117 medium and lower enterprises selected by the medium and small plates in the Shenzhen Stock Exchange and growth enterprise market. And then, using the analysis of the coefficient of variation and the correlation coefficient analysis to analyse and improve the index. Second, this article use the analytic hierarchy process, which combines the qualitative analysis and quantitative analysis, to determine the weight of financial and non-financial index. Three, on the basis of the feature of index, this article use linear weighted sum method for quantitative index selection and fuzzy mathematics comprehensive evaluation method for quantitative index selection, so that the credit score of rating objects can be calculated and the final construction of the model can be completed.Finally, this article summarizes and prospects the credit rating of small and microbusinesses. Though the credit rating model constructed in this paper is operable and effective on the whole, but it still needs to be tested by practical application.

小微企业 信用评级模型 层次分析法 指标体系

small and micro businesses credit rating models analytic hierarchy process index system

中文

联合培养

南方科技大学

丁璇. 基于担保市场业务的小微企业信用评级模型的探究[D]. 深圳. 哈尔滨工业大学,2018.