The Research On The Credit Guarantee Model Of Medium &Small-sized Enterprise Financing And Its Application

The Medium &Small-sized Enterprise is the most vigor factor in the national economy, plays an important part in promoting the national economy. But the development of the Medium &Small-sized Enterprise has been facing many problems, and the main difficulty is financing. The Credit guarantee institution for Medium &Small-sized Enterprise follows by bank commercial reforming as well as solving Medium &Small-sized Enterprise financing problem in our country.By using credit ration model of the information economics, this article explains the credit market degeneration of the Medium &Small-sized Enterprise caused by asymmetrical information. This paper develops a three-park including the monopolistic bank, the commercial guarantee institution and the small-medium enterprise on the basis of traditional two-park credit model, from the two aspects that the credit ration happens-adverse selection and moral hazard, Discusses the impacts that the commercial guarantee institutions do in the financing of Medium &Small-sized Enterprise, and analyzes the importance of the commercial guarantee institution's information advantage. Information advantage can revise asymmetrical information condition in the credit market; make the commercial bank complete the credit transaction with the Medium &Small-sized Enterprise more easily. The information advantage of commercial guarantee institution can reject the high venture enterprise, reduces the guarantee risk, slows down the adverse selection of the enterprises, and enhances the fund allocation credit efficiency in the credit market. And, comparing to the policy guarantee organization, the guarantee efficiency of the commercial guarantee organization is higher. So the commercial guarantee organizations are very important in solving problem of the Medium &Small-sized Enterprise financing.In the foundation of seriously reviewing the development course of the guarantee institution, This paper analyzes he present pattern of the guarantee institution in our country because the commercial guarantee institution develops rapidly, and has surpasses the policy guarantee institution development at present, the article take the commercial guarantee organization as the analysis focal point, establishes a a three-park credit guarantee model for the Medium &Small-sized Enterprise financing,. And then taking this model as the foundation, this article do a research on the how to construct credit guarantee system, tries to give some feasible advises for the development of our country's Medium &Small-sized Enterprise financing guarantee system.Because the credit collateral for Medium &Small-sized Enterprise has the public attribute, only depending on the commercial guarantee institution will cause the excessively high providing cost, the policy guarantee organization is indispensable for supporting the Medium &Small-sized Enterprise development. A credit guarantee system that is multi-level as well as the policy guarantee organization and the commercial guarantee organization unifies should be established in our country. The article finally proposed countermeasure suggestion about how to develop the credit guarantee organization and the risk control series in our country...