Research On Credit Risk Assessment Of Strategic Emerging Industry Enterprises Based On Choquet Fuzzy Integral

Strategic emerging industries are the key industries of national support, andthey are based on the major development requirement and major technologicalbreakthrough, and they have features which are the huge market potential, knowledgeand technology intensive, high growth potential, low material resources consumptionand high economic value-added. However, because strategic emerging industriespresent the complex characteristics such as strategicness, uncertainty, positiveexternality, innovativeness, dynamics and relavancy etc, the derived credit riskproblems arouse much high attention from domestic academic circle and industrialcircle. Thus, to establish a scientific credit risk evaluation model for strategicemerging industrial enterprises, will be of great importance to accurately identify andevaluate risks and to improve risk management ability of financial credit institutions,venture capital funds and securities market investors.This paper starts with the analysis of the causes of the credit risks of enterprisesin strategic emerging industries by taking listed companies in those industries asresearch objects. It is introduced Choquet fuzzy integral method, and to be establishedevaluation index systems of reflecting enterprise credit risk evaluation of strategicemerging industries. Meanwhile, relevant data of105representative listed companiesin strategic emerging industries from2008to2012are selected in accordance with theindex system above, and to make dynamic comprehensive evaluation of strategicemerging industries by industry. According to the evaluation result, the targeted policysuggestion was provided to improve the situation of enterprises credit risk of strategicemerging industry. And in a later article, measures and advice were given for theconstruction of the credit system of strategic emerging industry, which provided thedecision basis for the further optimization of development strategy of strategicemerging industry.This paper, for the first time, establishes credit risk evaluation index systemconforming to the characteristics of enterprises in strategic emerging industriesaccording to relevant industrial characteristics. And then according to the indexsystem, the paper, with the introduction of the Choquet fuzzy integral method,conducts dynamic and comprehensive assessment of strategic emerging industries bythe classification of those industries with data from105listed companies collectedunder certain conditions. By the comparative analysis of the assessment, the paper explores and analyzes the current situation of the credit risks in enterprises of thecountry’s strategic emerging industries, and ascertains the influential element thataffected enterprises’ credit risk in different industries. At last, the paper illuminates themeasures and suggestion of building the credit system in strategic emerging industries,which will provide a basis of decisions for comprehensively optimizing thedevelopment of the country’s strategic emerging industries.