發(fā)布時(shí)間：2018-01-12 07:31

  本文關(guān)鍵詞：基于互聯(lián)網(wǎng)金融的孵化器企業(yè)集群線上線下貸款創(chuàng)新研究　出處：《華南理工大學(xué)》2014年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 孵化器企業(yè)集群 互聯(lián)網(wǎng)金融 貸款模式 集群貸款定價(jià) 監(jiān)管

【摘要】：企業(yè)孵化器是作為培育和扶植高新技術(shù)企業(yè)的機(jī)構(gòu)，能有效地降低企業(yè)的風(fēng)險(xiǎn)和成本，提高企業(yè)的創(chuàng)業(yè)成功率。在孵化器企業(yè)的培育過程中，資金短缺是中小微企業(yè)面臨的最突出問題。尋求銀行貸款是孵化器企業(yè)最常用的融資模式。但，由于外部擔(dān)保體系的不完整、孵化器中小微企業(yè)自身經(jīng)濟(jì)實(shí)力的不足等，與傳統(tǒng)銀行的“抵押擔(dān)�！贝胧┎幌喾�，導(dǎo)致孵化器企業(yè)貸款難。因此，本文以孵化器企業(yè)集群為研究對象，希望能開辟新的融資渠道、豐富融資產(chǎn)品，解決孵化器企業(yè)融資難。 本文的研究思想：在研究對象上，著眼于在孵企業(yè)的融資難問題，對其貸款產(chǎn)品進(jìn)行創(chuàng)新；研究思路上，從整體業(yè)務(wù)流程上對集群貸款進(jìn)行分析，涉及貸款成員的優(yōu)化問題、集群貸款的定價(jià)問題，以及貸款業(yè)務(wù)風(fēng)險(xiǎn)監(jiān)管等；產(chǎn)品模式上，研究集群貸款線上、線下及線上線下相結(jié)合的模式，，為孵化器企業(yè)的融資提供了更多的融資渠道；模型方法上，線下定價(jià)將貸款模型推廣至多元，線上定價(jià)首先運(yùn)用Logistic模型進(jìn)行信息處理，再用效用最大化模型求解利率。線上與線下相結(jié)合定價(jià)采用線性規(guī)劃對貸款組合進(jìn)行優(yōu)化。 本文的研究方法與內(nèi)容：通過對全國各大重點(diǎn)城市的孵化器企業(yè)集群進(jìn)行調(diào)研和訪談，了解和分析了孵化器企業(yè)融資現(xiàn)狀。并對目前互聯(lián)網(wǎng)金融的現(xiàn)狀、互聯(lián)網(wǎng)金融模式進(jìn)行研究，綜述了互聯(lián)網(wǎng)金融對信貸的影響、目前已有的貸款創(chuàng)新產(chǎn)品及其定價(jià)模型。針對孵化器企業(yè)融資難問題，本文基于業(yè)界推廣度較廣的集群貸款融資模式,創(chuàng)新性的提出孵化器企業(yè)集群貸款的線上、線下以及線上線下相結(jié)合的模式，通過鼓勵(lì)銀行等機(jī)構(gòu)建立網(wǎng)絡(luò)金融平臺(tái)，對符合條件的集群小組企業(yè)進(jìn)行貸款發(fā)放。而后，圍繞集群貸款的線上、線下定價(jià)流程，先對集群貸款成員進(jìn)行優(yōu)化分析，然后介紹了集群貸款線下定價(jià)的模型，用多元高斯Copula和強(qiáng)度模型實(shí)現(xiàn)定價(jià)。在線上定價(jià)部分，先分析了線上與線下集群貸款的異同，而后用Logistic模型進(jìn)行信息處理計(jì)算違約率，利用效益最大化模型求解可能性交易集合，最終得出線上貸款利率。文章的最后，對集群貸款監(jiān)管與制度創(chuàng)新提出政策建議。 本文研究的線上線下集群貸款模式能夠?yàn)樵诜跗髽I(yè)提供更豐富的融資途徑，有別于傳統(tǒng)的抵押擔(dān)保貸款，通過企業(yè)集群小組成員之間的互相擔(dān)保增信、承擔(dān)連帶責(zé)任，提高了貸款成功率，降低貸款風(fēng)險(xiǎn)。而在定價(jià)模型中，本文通過數(shù)值分析正式了模型具有可行性，對集群貸款定價(jià)具有一定的指導(dǎo)意義。
[Abstract]:Business incubator is an institution to cultivate and foster high-tech enterprises, which can effectively reduce the risks and costs of enterprises, improve the success rate of enterprises. In the incubation process of incubator enterprises. Capital shortage is the most prominent problem faced by small and medium-sized enterprises. Seeking bank loans is the most commonly used financing mode for incubator enterprises. However, due to the incomplete external guarantee system. The shortage of economic strength of small and micro enterprises in incubator does not accord with the "mortgage guarantee" measures of traditional banks, which leads to the difficulty of lending to incubator enterprises. Therefore, this paper takes the cluster of incubator enterprises as the research object. Hope to open up new financing channels, enrich financing products, and solve the financing difficulties of incubator enterprises. The research idea of this paper: on the research object, focusing on the financing difficulty of incubated enterprises, innovating its loan products; Research ideas, from the overall business process of the analysis of cluster loans, involving the optimization of loan members, the pricing of cluster loans, as well as loan business risk supervision and so on; On the product model, the research on the combination of cluster loan line, offline and online provides more financing channels for incubator enterprises. In the model method, offline pricing extends the loan model to the maximum element, and the online pricing first uses Logistic model to process the information. Then the utility maximization model is used to solve the interest rate, and the linear programming is used to optimize the loan portfolio by the combination of online and offline pricing. The research methods and contents of this paper: through the investigation and interview of the incubator enterprise cluster in the major cities of the country, understand and analyze the current situation of the incubator enterprise financing, and the current situation of the Internet finance. This paper studies the Internet finance model, summarizes the impact of Internet finance on credit, the existing loan innovation products and their pricing models, and aims at the financing difficulties of incubator enterprises. Based on the cluster loan financing model which is widely popularized in the industry, this paper innovatively puts forward the online, offline and offline combination model of incubator enterprise cluster loan. By encouraging banks and other institutions to establish a network financial platform to provide loans to eligible cluster group enterprises. Then, around the online and offline pricing process of cluster loans. This paper first analyzes the members of the cluster loan, then introduces the pricing model under the cluster loan line, and uses the multiple Gao Si Copula and intensity model to realize the pricing. Firstly, the similarities and differences between online and offline cluster loans are analyzed, and then the default rate is calculated by using Logistic model to calculate the default rate, and the possibility transaction set is solved by using the benefit maximization model. At the end of the article, some suggestions on the supervision and institutional innovation of cluster loan are put forward. The online and offline cluster loan model studied in this paper can provide more abundant financing channels for incubated enterprises, different from the traditional mortgage guarantee loan, through mutual guarantee and credit enhancement among the members of the enterprise cluster group. Taking joint and several liability improves the loan success rate and reduces the loan risk. In the pricing model, the model is feasible through numerical analysis, which has certain guiding significance for the pricing of cluster loans.
【學(xué)位授予單位】：華南理工大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2014
【分類號】：F276.44;F832.4

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