基于267家中小企業(yè)信貸融資數(shù)據(jù)的信息不對稱研究
發(fā)布時間：2019-01-07 17:31
【摘要】：本文引進信息不對稱相關理論闡述了我國中小企業(yè)融資難問題的一大癥結所在,同時通過實證研究分析測算出實踐當中信息不對稱對商業(yè)銀行信貸行為的具體影響程度和表現(xiàn)形式。本文的創(chuàng)新之處在于對RAROC (Risk Adjusted Return on Capital,以下中文簡稱為“風險收益率”)概念的運用,通過對國內某商業(yè)銀行現(xiàn)有的267家中小企業(yè)信貸客戶的風險收益率的比較分析,發(fā)現(xiàn)銀行對于熟悉的客戶往往愿意接受較低的風險收益率,而對不熟悉中小企業(yè)客戶的授信則反映出普遍較高的風險收益率。這一發(fā)現(xiàn)意味著,銀行所不熟悉的中小企業(yè)相對更有可能被逐出信貸市場且得不到貸款。本文的研究,從實證角度驗證了信息不對稱是造成中小企業(yè)遭遇“信貸約束”的主要原因之一。
[Abstract]:This paper introduces the theory of information asymmetry to explain the crux of the problem of financing difficulties for small and medium-sized enterprises in China. At the same time, through the empirical analysis, the paper estimates the specific impact of asymmetric information on the credit behavior of commercial banks. The innovation of this paper lies in the application of the concept of "risk rate of return", which is referred to as "risk rate of return" in the following Chinese version of RAROC (Risk Adjusted Return on Capital, through the comparative analysis of the risk rate of return of credit customers of 267 small and medium-sized enterprises in a domestic commercial bank. It is found that banks tend to accept lower risk returns for familiar customers, while credit for unfamiliar SME customers reflects generally higher risk returns. The finding suggests that small and medium-sized businesses that banks are unfamiliar with are relatively more likely to be driven out of credit markets and denied access to credit. This paper verifies that information asymmetry is one of the main reasons for SMEs to encounter "credit constraints" from an empirical point of view.
【學位授予單位】：復旦大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.4
本文編號：2403934
[Abstract]:This paper introduces the theory of information asymmetry to explain the crux of the problem of financing difficulties for small and medium-sized enterprises in China. At the same time, through the empirical analysis, the paper estimates the specific impact of asymmetric information on the credit behavior of commercial banks. The innovation of this paper lies in the application of the concept of "risk rate of return", which is referred to as "risk rate of return" in the following Chinese version of RAROC (Risk Adjusted Return on Capital, through the comparative analysis of the risk rate of return of credit customers of 267 small and medium-sized enterprises in a domestic commercial bank. It is found that banks tend to accept lower risk returns for familiar customers, while credit for unfamiliar SME customers reflects generally higher risk returns. The finding suggests that small and medium-sized businesses that banks are unfamiliar with are relatively more likely to be driven out of credit markets and denied access to credit. This paper verifies that information asymmetry is one of the main reasons for SMEs to encounter "credit constraints" from an empirical point of view.
【學位授予單位】：復旦大學
【學位級別】：碩士
【學位授予年份】：2012
【分類號】：F832.4
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，本文編號：2403934
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