Study On The Credit Rating Methods Of New Ventures

Since the beginning of reform and opening up ,China economic go further , Entrepreneurs find soil to grow up, venture corporations continue to emerge, as long as economic development ,venture corporations become more and more important ,but as the affect of economic environment and social factor, venture corporations find it's very difficult to raise enough money , venture corporations play double roles , one aspect is motivate man of economic , it supply employment empty , promote economic development ; in another aspect , it was a poor man , trouble to find venture capital to supply it's own corporation's exist , unfortunately , not every venture have God's bless.Many professors analyses the cause of this state , one is information block between the venture and the investor , namely credit problems of venture corporations. Normal ,awarder and receiver in credit market match different source of information, receiver know it's own business and credit conditions awarder know nothing about this, that's asymmetry between them."credit"not only an abstract none but tightly connect with economic actions, increasingly become an important chine in economic link, credit problems being recognized by society. Market economic is credit economic, commercial product and trade can't process without credit. But, another fact is credit rating is just developing in our country, it was not surprise that no method can fit the ventures, therefore, the author mention to design a method to suit the ventures, and develop special rating organization.Credit rating of Venture corporations emphasize two aspect about entrepreneurs and investors , firstly ,spread ways to venture corporations, widen financing trench, decrease financing cost; secondly , ensure profit of investor, offer advice and guidance to investment decision. Reduce invest risk and losing. Credit rating of venture corporations aim at credit risk, not only rating reward ability but payback ability. Credit define extend little by little , it's very essential to design a system to rating venture corporations.The author gather abundant information, analyses the status of credit rating home and overseas , credit rating method , rating design , profoundly analyses which factors most affect the rating of the ventures , because to design utility rating system ,the author reduce finance's weight and increase corporation quality and product capability's weight ,and particularly describe every target.We use AHP method to design weight of target, it's an normal and utility method to making decisions, it change nature problems to measure, complex problems easily, ease to achieve every processes, give subjective experience enough power to design, AHP method use in many field, just like: arrange scheme, evaluate items, distribute resource, analysis risk, layout city, analysis conflict, medical treatment, forecast and so on.AHP method has three essential theories: layer analysis, compare and judge, weight compose. Layer analysis theory predigest complex problems, compare and judge theory can compare every two elements ,judge it's weight to up layer, weight compose theory compose and every element's weight, make sure priority weight and it's order.The effect of rating to venture corporation is reduce trade cost, but absent credit will increase trade cost, make possible business become impossible. This names"disappeared hand"in system economics. Rating the ventures have many positive aspects , just like : advance safeguard of the investor , advance reasonable use of spare capitals , advance to control the credit rise of the venture corporations.