| In recent years, the small and medium-sized enterprises have played an important role in promoting economic growth, relieving employment pressure, and maintaining social stability, etc. At the same time, the predicament of the difficulty and high cost of financing caused more and more social attention. In this context, guarantee companies were gradually involved in the financing process of SMEs to try to provide new financing channels for SMEs by improving their credit. Guarantee companies connected to the Banks and SMEs, formed the financing chain and risk chain as well, and thus took high credit risks. At the same time, due to the capital enlargement of guarantee, the implied risk were also enlarged, this means financing guarantee for SMEs expanded the potential risks throughout the whole financial system. Under this background, the present thesis made a systematic analysis of credit risk caused by financing guarantee, found applicable technology to control the risk, and then promote the further sustainable, healthy development of guarantee business, which is of both theoretical and realistic significance.Through reading literature review and doing normative analysis, the present thesis discussed theories related to financing guarantee and credit risk, the development of SMES financing guarantee, the causes of credit risk, analyzed realistic environment of credit risk control, put forward the target of credit risk control, and expounded which roles the interested parties:government, bank, SMEs, guarantee company should play in controlling credit risk for a better financing environment. Finally, combined with the problems in work, this paper, focusing on the research of applicable risk control technology, formed an operable risk control technology system which could give guarantee company proper guidance.This thesis is divided into seven parts:the first chapter, introduction, introduces the background and significance of the selected topic, defines important concepts and research scope, and puts forward research ideas and research methods. The second chapter is literature review, mainly reviewing the development of financing guarantee and credit risk. The third chapter introduces the basic theory of financing guarantee and credit risk. Through combing theories based on transaction cost theory, information asymmetry theory, participation cost theory and so on, it explains the necessity of the financing guarantee companies, and introduce theories of credit risk control. The fourth chapter is the analysis of the credit risk of financing guarantee of SMEs, Combing the development status of guarantee industry in China, analyzing the causes of credit risk of financing guarantee chain from the participant’s respect, and illustrating the performance and harm of credit risk. The fifth chapter is target and environment of credit risk control in financing guarantee of SMEs in our country. It mainly analyzes the current realistic environment of credit risk control, put forward the goal of risk control, puts forward how to perfect the risk control environment at the macro level from the participant’s respect. The sixth chapter puts forward risk control technology system mainly from the angle of guarantee company. The seventh chapter is conclusion and suggestion. It summarizes the results and innovation of the research, improves the database of default rate and loss rate of default, and propose to improve data quality of assurance,give suggestions on feedback of default case.Important conclusion and innovation of this article:according to the theory on financing guarantee of SMEs, the thoeory of credit risk and credit risk control, this paper puts forward that Banks, SMEs, guarantee company constitutes the financing guarantee chain and also a risk chain; Second, through analyzing the current situation of credit risk control, this paper try to improve credit risk control of financing guarantee and said that companies should transform management from static management to dynamic management and change assessment method from simple qualitative analysis to the combination of qualitative and quantitative analysis; Third, it innovatively introduced the latest requirement and practice standard of bank credit business to guarantee business to control credit risk according to Basel Ⅲ, which fill in the blank of technology system on credit risk control in financing guarantee business. It established two-dimensional credit risk evaluation system of borrowers rating and debt rating, and use CAMP grid analysis throughout the borrower risk rating, constraint condition, risk monitoring and early warning mechanism. This give a beneficial guidance to evaluate the credit risk of financing guarantee of SMEs comprehensively and objectively, and establish operable risk control technology system in guarantee company to control credit risk. |
