Research On Risk Control Of SMEs' Financing Re-Guarantee Institution

SMEs play an irreplaceable role in promoting economic growth,accelerating industrial upgrading and innovation,solving employment problem and promoting social prosperity.However,the problem of financing has become the biggest obstacle to the development of SMEs.In order to alleviate the problem of financing,the guarantee institution has been emerged.Financing re-guarantee institution is the further extension of guarantee institution,promoting the development of guarantee institutions and SMEs by diversify risk and enhancing credit.With the features of low benefit and high risk,effective control of risk is significance for financing re-guarantee institution to realize the sustainable development.This paper focus on the risk control of financing re-guarantee institutions,summing up the relevant theories on the basis of in-depth research and study of domestic and foreign re-guarantee risk control research in order to lay the foundation for further study.First,by surveying relevant financing re-guarantee institutions in Jiangsu,Shandong and Beijing,this paper analyzes the current situation of financing reguarantee institutions' risk control and the problems existing in risk control of financing re-guarantee institution,the problems include the imperfect risk compensation mechanism,the assessment mechanisms do not match the function orientation of financing re-guarantee institution,the risk and return imbalance,etc.Secondly,this paper further analyzes the risk control mechanism of the financing re-guarantee institution: starting from the analysis of the risk transmission path of re-guarantee,we screen out the key factors which influences the risk of the financing re-guarantee institution and analyze the impact of the risk change trend by using computational experiment,mainly including enterprise similarity,asset realization rate,risk-sharing ratio,guarantee rate,re-guarantee rate and government subsidy rate;then this paper constructs the evolutionary game model of financing re-guarantee institution and the guarantee institution,discusses the evolution trend of the risk control behavior of the re-guarantee institution and analyzes the ways to optimize the risk control behavior of the financing re-guarantee institution.This paper draws the following conclusions: First,the financing guarantee institution is the main source of the financing re-guarantee institution's risk,because,on the one hand,the direct business object is the financing guarantee institution,on the other hand,the risk-increasing function of the financing re-guarantee institution also emphasizes the requirement to share the risk for the financing guarantee institution;The second is that by analyzing the risk factors of financing re-guarantee institutions,on the one hand,the corporate similarity exacerbates the overall risk of the re-guarantee business while the higher the asset realization rate is benefit to reduce the overall risk.On the other hand,increasing proportion of bank risk sharing,making a reasonable guarantee rate and re-guarantee rates,enhancing the government subsidy rate is conducive to reducing the risk of re-guarantee institutions to achieve effective risk control;Thirdly,by analyzing the evolution trend of the risk control behavior of the reguarantee institution,it is determined that the risk control behavior of the re-guarantee institution can be promoted to the ideal direction by improving the government management,interior management level of re-guarantee institution and reducing the compensation losses of the re-guarantee institution.Finally,by analyzing the results of the research,this paper puts forward some suggestions to strengthen the risk controls of the financing re-guarantee institutions.These suggestions mainly include raising the management level of the financing reguarantee institutions,establishing effective risk identification mechanism,strengthening the cooperation between the financing re-guarantee institutions and bank,increasing government's support and governance.