A Case Study On Innovative Guarantee Mode Of High-Tech SMEs

High-tech SMEs are effective ways to transfer the science and technology into real productivity, they are also the important link that combines technology and the economy. In one respect, the development of High-tech SMEs has important significance to the national economy. And on the other hand, the results can make a better support to the scientific research. However, in reality, the development faces various restraints, such as the problem of financing. In this context, credit guaranty industry which aims to ease the financing difficulties of SMEs achieves rapid development.In this paper, I reviewed a large number of literature, combined our country's High-tech SMEs guarantee cases in practice, and concluded and summarized the three main models of SMEs credit guaranty. I introduced and analyzed the case from industry situation, corporate situation, products, mainly analyzed corporate credit conditions and financial standing and summarized characteristics of each model. At the same time, I attempted to identify the fundamental causes based on the failure cases. In this progress, I found that guaranty pricing has many subjective and random factors, this is largely restrained the development of guaranty industry. The paper puts the emphasis on the pricing of credit guaranty, which is mainly about the theory of VaR Model and B-S Model, also the relative empirical results.Through the empirical analysis, it is concluded that B-S Pricing Model can make a smaller risk. And at last, put forward policy suggestions accordingly. I hope in this way, it will help to improve the mode of credit guaranty of High-tech SMEs and release the difficulty of SME's financing.In this paper, case study analysis and contrastive analysis were used in-depth study, which is also the main feature. I analyzed great mass of primary data, concluded and summarized the main models of SMEs credit guaranty. And from the comparative analysis of successes and failures, found the problems in credit guaranty of High-tech SMEs, which is the basis for policy recommendations. This makes the paper more objective and practical.