A Study Of The Sustainable Development Of Small Loan Companies Based On DEA And The Factor Analysis

With the development of economy and the open of economic market, small and medium-sized enterprise rise rapidly. The developments of the enterprise make a large contribution to GDP. At the same time, with the policy’s advocacy, more and more attention have been taken to the development of rural economy in China. The development of the small and medium-sized enterprises and the rural economic require the corresponding financial system, financial institutions and financial service. But at the present time the finance system in our country have such questions, just like financial suppression, financial exclusion, information asymmetry, and the phenomenon of credit rationing, coupled with the characteristics of the small and medium-sized enterprises and the rural financial demanders, the formal financial institutions, like bank, cannot meet the needs of these special groups in order to control risk and operating cost. The financing problem restricts the development of the medium-sized enterprise.In2008, China Banking Regulatory Commission and People’s Bank of China make a pilot guidance on the small loan company. And the China’s small loan companies spring up rapidly. Within five years, with operating characteristics-short, frequency and fast and the principle of small, the micro-finance company find their own development space. They not only alleviate the financing difficulties of small and medium-sized enterprises, but also fill the gaps of rural finance, and at the same time regulate the informal financial sector by guiding the vast flow of private capital to formal financial services.Given the importance of the small loan companies as a financial system innovation, the sustainable development research on the small loan companies has certain practical significance. In this paper, from the angle of the financial sustainable development, the author uses the theory of financial resources and adopts the combination of quantitative and qualitative methods to build the measure index system of sustainable development of small loan companies. The paper make an empirical research on31micro finance companies of Zhejiang province based the DEA model and the Factor Analytic, analyzing the development ability of the31companies and finding out the affecting factors of the sustainable development. And based on the sample, the paper put forward the suggestions to improve the small loan companies’ ability of realizing sustainable development.The first chapter introduces the background and the significance of the search. This part summarizes the domestic and foreign research achievements obtained so far, and summarizes the research methods and innovation points.The second chapter introduces the theory of financial sustainable development. And from the perspective of the current relatively mature financial sustainable development theory, this part put forward the sustainable development of small loan companies, which can be defined as the sustainable finance and sustainable organization. The paper analysis the factors of the sustainable development from three aspects, the resource, the capacity and the policy.The third chapter builds the evaluation system of sustainable development of the small loan companies, which contains sixteen evaluation indexes.The forth chapter measures the efficiency of the small loan companies using the DEA model. On the one hand the results can calculate pure technical efficiency and scale efficiency, which are the quantitative indicators of measuring system. And on the other hand, this part analysis the sustainable development of the small loan companies in terms of efficiency.The fifth chapter adopts the Factor Analytic to get five factors affecting the sustainable development capacity of small loan companies. Through the empirical results of the DEA model and the Factor Analytic, this paper makes suggestions on the measures and directions to improve the level of sustainable development.The final chapter presents policy recommendations to promote the sustainable development of small loan companies.