Research On Credit Risk Of Small And Medium-sized Construction Enterprises Based On Evolutionary Game

As an important pillar industry of China’s national economy,the construction industry has greatly promoted GDP growth,improved the employment environment in China,improved the living environment of people’s lives,promoted the process of urbanization construction,and promoted the development of upstream and downstream industries.While the construction industry is developing rapidly,it also faces corresponding challenges.Investors or developers invest a large amount of funds in the purchase of land in the early stage,the construction period is long,the funds are slow to return,and it is easy to have insufficient funds in the process of project construction.In order to alleviate the pressure on capital,investors or openers often take measures to delay payment for small and medium-sized construction enterprises that contract projects,which in turn leads to shortage of funds for small and medium-sized construction enterprises.Under normal circumstances,small and medium-sized construction enterprises are difficult to obtain loan support from financial institutions because of their limitations.In order to improve the financing difficulties of small and medium-sized construction enterprises,investors or developers will provide credit guarantees for small and medium-sized construction enterprises,and sign corresponding agreements with financial institutions to help small and medium-sized construction enterprises obtain loan support from financial institutions.The problem of insufficient funds for small and medium-sized construction enterprises can be solved,and the financial pressure of investors or developers can be alleviated,thus ensuring the stability of the project.However,in the process of investors or developers helping small and medium-sized construction enterprises to finance financial institutions,financial institutions are also facing the credit risk of small and medium-sized construction enterprises.Under this background,this paper takes small and mediumsized construction enterprises as the research object,and uses evolutionary game method and numerical simulation method to study the credit risk of small and mediumsized construction enterprises.Through the model hypothesis,the evolutionary game model of credit risk of financial institutions and small and medium-sized construction enterprises is constructed,and the game model is simulated.Then the suggestions for preventing the credit risk of small and medium-sized construction enterprises are put forward.Firstly,according to the research direction of this paper,it summarizes the research on credit risk of SME financing,construction enterprise financing,SME credit risk and evolutionary game,and introduces the related aspects of SMEs,small and mediumsized construction enterprises and evolutionary games.The theoretical basis provides theoretical support for the later research.On this basis,the paper analyzes the development status and credit risk characteristics of small and medium-sized construction enterprises in China,and expounds the causes of credit risk of small and medium-sized construction enterprises,and provides reference for the setting of the model parameters.Secondly,according to the model hypothesis,the evolutionary game model of credit risk of financial institutions and small and medium-sized construction enterprises is constructed.Then,the stability analysis of the evolutionary game model is carried out,and the evolutionary stability strategy under different conditions is found.The numerical simulation analysis is carried out by using Matlab software to verify the correctness and effectiveness of the equilibrium point and stability analysis,Factors affecting the credit risk of small and medium-sized construction enterprises.Finally,through the simulation study of the model,the policy recommendations for preventing the credit risk of small and medium-sized construction enterprises are further obtained,which provides reference for the relevant entities to prevent the credit risk of small and medium-sized construction enterprises.