中小企业信用担保机构可持续发展研究
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摘要
担保作为一种经济活动,在经济活动中为金融机构与需要融资的企业之间架起一座便利的桥梁,担保机构也成为当代市场经济体系中不可或缺的经济组织形式。从银行角度来看,担保活动为银行降低了信息不对称性风险,相对降低了贷款风险和管理成本,提高了银行运行的效率；为需要融资但因信用无法满足银行要求的企业提供了信用增强,企业也由于第三方的信用强化而获得资金,使社会资源配置更加合理,从而提高了整个社会的融资效率。中小企业担保公司是担负中小企业信用担保职能的专业机构,担保公司通过有偿出借自身信用资源、防控信用风险来获取经济与社会效益。
我国担保行业的发展是整个经济体制转轨和市场经济体制不断发育的产物。我国的担保行业是在金融改革和国家产业政策调整的过程中产生的,虽然只有10余年的发展历程,但是随着我国市场经济体制的完善和发展,对担保功能的需求迅速增长,担保业快速成长,成为一个新兴的、初显活力的重要行业。
由于我国的银行体系不能满足为广大中小型企业提供融资的需求,信用担保业在我国的中小企业金融体系中具有独特的优势。从中小企业融资的角度看,担保业在当前金融体系中的作用显得尤为重要。中小企业信用担保体系的建设和发展,对缓解中小企业贷款困难,提升中小企业信用等级,促进中小企业健康发展,对扩大就业、培育税源,发挥了积极的作用。在其发展过程中,中小企业信用担保实际上已经成为一种集政策性因素与商业性操作工具、手段相融合的金融工具。
当前,迅速发展的中小企业信用担保机构对缓解中小企业融资难发挥了积极作用,但同时也暴露出越来越多的矛盾和问题,面临诸多挑战。应对中小企业而产生的中小企业信用担保机构是一个专业性很强的高风险行业,如何加强内部管理,推进业务发展与创新,探求行业发展壮大的可持续经营之道,是众多担保机构普遍关注的课题。
通过对中小企业信用担保机构的研究,考察其风险管理和经营效率,对不同的问题采用不同的对策,这有助于担保机构降低风险、分散风险、转移和补偿风险,提高担保公司的风险控制能力和担保公司竞争能力,促进担保机构的健康发展,也有助于促进良好信用环境的形成,有助于化解社会间接融资压力,有助于推动金融创新,对政府实现政策目标亦具有重要的理论意义和现实实践意义。
中小企业信用担保机构对中小企业发展有着重要的促进作用,同时,市场竞争、风险管理和经营效率也要求中小企业信用担保机构不断创新,实现可持续发展。鉴于此,本文从中小企业信用担保机构的地位、经营方式等现实基础出发,从风险管理、经营效率和经营模式创新等方面系统探讨中小企业信用担保机构的可持续发展。
本文的研究内容如下：
第1章是绪言,介绍本文的研究背景与研究意义、研究思路与框架、研究内容与方法以及创新与不足等。
第2章对中小企业信用担保机构与企业、银行关系进行逻辑分析。从信用担保的制度起源和中小企业信用担保机构的市场作用两个角度分析其存在的必然性。信用担保制度在各国的普遍存在和不断发展壮大充分说明它是促进中小企业融资的长期有效形式。中小企业信用担保体系与中小企业、商业银行之间的关系分析表明,中小企业信用担保机构应加强管理与创新提高市场地位与作用。
第3章探讨信用担保机构的运行方式。该章首先逐一考察了中小企业信用担保体系中主要的三种模式：政策性担保、互助性担保和商业性担保。随后,讨论了我国中小企业信用担保模式发展现状,发现伴随着担保机构实力及资金规模的扩大,其利润却没能随之增长,2010-2011年担保机构的经营受到很大冲击。我国中小企业担保机构在各地出现了一定的创新模式。
第4章从经营效率的角度探讨中小企业信用担保机构的可持续发展。为提高竞争力,担保公司在发展过程中理应注重自己的经营效率。本文采用广义DEA模型从产出方向评估中小企业信用担保机构的经营效率。经研究发现,担保公司整体上的效率随着时间不断发生着变化,担保公司在2011年的效率总体相对稳定,在2012年效率有所下降,并且不同公司之间的效率差异增加,宏观经济形势变化导致担保公司的经营效率产生较大波动,总体上年初效率较高。持续的经营会增强担保公司经营效率的稳定性。
第5章从风险管理的角度探讨中小企业信用担保机构的可持续发展。从风险的角度看,信用担保本质是银行将中小企业贷款风险转嫁给担保公司和担保公司凭自身风险管理的能力化解风险的过程。风险管理是担保公司的首要任务,风险管理能力是担保公司生存和持续发展最重要的能力。中小企业信用担保机构应该积极实施全面风险管理,在全面风险管理策略下,中小企业信用担保风险管理指标体系不仅包括预警机制,还包括对风险的控制机制。在预警和控制机制中不仅考虑账户、财务等常规信息,还包括人事、家庭等各种非财务因素的信息。形成完善的风险管理体系、建立可持续的商业模式有助于其实现可持续发展。
第6章讨论信用担保机构运行综合创新与可持续发展。盈利模式创新是中小企业信用担保机构可持续经营的基础。有效分散受保企业信用风险,落实受保企业的反担保措施,这是信用担保机构经营之关键,担保机构应在担保品种和反担保方式上进行创新。提高运行效率是信用担保机构在激烈的同业竞争中脱颖而出的保证,信用担保机构应坚持安全性、流动性、收益性原则,市场化运作的可持续审慎经营模式。
第7章是结论与政策建议。
本文的创新之处在于：一方面,本文在阐述中小企业信用担保经营绩效和风险管理现状的基础上,采用广义DEA模型从产出方向评估中小企业信用担保机构的经营效率,进一步讨论了中小担保机构的效率变化。另一方面,本文从多方面探讨了模式创新引领的可持续发展,包括盈利模式创新、风险管理路径创新和合作流程创新等。由于数据的限制,本文在对中小企业信用担保机构风险管理的研究中,没有采用申请担保的公司的财务指标等数据进行经验研究,未来随着数据的进一步完善,本人将作进一步的深入研究。
Guarantee, a form of economic activity, has been played as a link between banks and enterprises in the macro socio-economic system. Via credit guarantees, banks can reduce the spend of the information asymmetry, the cost of management costs and the loan risks. Via credit guarantees, enterprises can also obtain funds due to third-party credit enhancement, leading to the increase of the financing efficiency in the whole community. The SME Guarantee Corporations are professional, which have obtained the economic and social benefits through lending credit resources and controlling of credit risk.
The development of China's guarantee industry is the product of the continuous development of entire economic system transition and market economy system. Guarantee industry in China is generated in the process of financial reform and adjustment of national industrial policy. Although with only a dozen years of development, guarantees industry gets rapid growth, and becomes an emerging dynamic industry.
As China's banking system can't meet the financing needs of the majority of small and medium-sized enterprises, the credit guarantee industry in China has unique advantages in the financial system for small and medium-sized enterprises. From the view of SME financing, the guarantee industry has played a significant role in the current financial system. The construction and development of the SME credit guarantee system, has played a positive role on alleviating the difficulties of SME loans, enhancing the credit rating of SMEs, promoting the healthy development of small and medium enterprises, and expanding employment and cultivating sources of tax revenue. As a result, SME credit guarantee has actually become an integration tool of policy factors and the commercial operation of instruments.
At present, though the rapid development of the SME credit guarantee institutions plays a positive role on easing the financing difficulties of SMEs, it also exposes a growing number of contradictions and problems. Such makes the SME credit guarantee institutions highly specialized and high-risk industries. How to strengthen internal management, promote business development and innovation, and explore the way to grow and sustainable develop, is the widespread concern topic of many guarantee institutions.
Through exploring the SME credit guarantee institutions, examining their risk management and operational efficiency, and taking different tactics for different problems, it will help the guarantee institutions to reduce, diversify, transfer and compensate risks, and improve their risk control capacity and competitiveness, leading to the promotion of the healthy development of the guarantee institutions. It also helps to promote the formation of a good credit environment, resolve social indirect financing pressure, promote financial innovation, and pursue government policy goals, which have both important theoretical and practical significance.
SME credit guarantee institutions have played an important role in promoting the development of small and medium-sized enterprises. In the other way, market competition, risk management and operational efficiency also require SME credit guarantee institutions innovation and sustainable development. This paper, bases on the status, mode of operation and reality basis of the SME credit guarantee institutions, probes the sustainable development of the SME credit guarantee institutions from risk management, operational efficiency and business model innovation system.
Based on the framework, the content of this study are:
Chapter One is the introduction, which introduces the research background, key points, framework, contents, methods of research, innovation and inadequate.
Chapter Two is a logical analysis of the role of the SME credit guarantee institutions. The necessity of the SME credit guarantee institutions has been discussed from two views: the origin of the credit guarantee system and the role of the SME credit guarantee. The widespread existence of credit guarantee system in countries which continues to grow and develop fully shows that it is a long-term effective form to promote the SME financing. The relationship between the SME credit guarantee system, small and medium-sized enterprises, and commercial banks shows that the SME credit guarantee institutions should strengthen management and innovation to improve the market position and role.
Chapter Three explores the operation mode of the credit guarantee institutions. First, three main modes of SME credit guarantee system in China is discussed one by one:policy guarantees, Mutual guarantees and commercial guarantees. Then, it examines the development status of China's SME credit guarantee mode. It shows that along with the expansion of the strength and the funds scale of the guarantee institutions, profit growth has been relatively stable, failing to follow up. In2010-2011there is a great impact on the operation of the guarantee institutions. Guarantee institutions for SMEs in China have been some innovative models around.
Chapter Four probes the sustainable development of SME credit guarantee institutions from the view of risk management. The identity of the credit guarantee is the process to pass those SME loan risks to guarantee companies and to mitigate risks by their own risk management capabilities. Risk management is the primary task of the guarantee institutions, and risk management ability is the most important skill for guarantee institution's survival and sustainable development. The SME credit guarantee institutions should actively implement the comprehensive risk management. Under the comprehensive risk management strategy, the SME credit guarantee risk management index system includes not only early warning mechanisms, but also the risk control mechanism. Early warning and control mechanisms not only consider the account, financial general information, and the personnel, family and other non-financial factors have been considered as well. Forming a comprehensive risk management system and establishing a sustainable business model can help guarantee institutions to achieve sustainable development.
Chapter Five discusses sustainable development of SME credit guarantee institutions from the view of operational efficiency. To improve competitiveness, guarantee institutions should focus on their operational efficiency in the process of development. In this paper, the generalized DEA model is used to assess the operational efficiency of the SME credit guarantee institutions from the output direction. It is found that guarantee institution's overall efficiency constantly changes over time:the efficiency of guarantee institutions in2011kept overall stability, but declined in2012. The increases of the efficiency between different companies have different reasons. The changes of macroeconomic situation lead to greater volatility in guarantee institution's operating efficiency, while they have higher overall efficiency at the beginning of the year. Continuing operations will enhance the stability of operating efficiency of guarantee companies.
Chapter Six discusses comprehensive innovations and sustainable development of operating mode in the credit guarantee institutions. Profit model innovation is an ongoing basis of the SME credit guarantee institutions. Effectively dispersing the insured corporate credit risk and the implementation of counter-guarantee measures, these are the key points to the operation of credit guarantee institutions. Guarantee institutions should be innovative in the way of collateral and counter-guarantees. Improving operational efficiency is the pledge for credit guarantee institutions to stand out in the fierce competition with other banks. Credit guarantee institutions should adhere to the principle of safety, liquidity and profitability, and the market-oriented operation of sustainable prudent business model.
Chapter Seven includes conclusions and policy recommendations.
The innovations of this paper are:on one hand, this paper used the generalized DEA model to assess the operational efficiency of the SME credit guarantee institutions from the output direction on the basis of the SME credit guarantee business performance and risk management status, and further discussed the changes in the efficiency of small and medium-sized guarantee. On the other hand, this article explored the sustainable development model from innovations in many ways, including innovations in profit model, innovations of risk management path and innovations in cooperation process. Due to the data limitation, this study of SME credit guarantee institutions risk management does not apply the company's financial indicators data for empirical research. In future, with the improvement of data, this paper will have a further in-depth study.
我国担保行业的发展是整个经济体制转轨和市场经济体制不断发育的产物。我国的担保行业是在金融改革和国家产业政策调整的过程中产生的,虽然只有10余年的发展历程,但是随着我国市场经济体制的完善和发展,对担保功能的需求迅速增长,担保业快速成长,成为一个新兴的、初显活力的重要行业。
由于我国的银行体系不能满足为广大中小型企业提供融资的需求,信用担保业在我国的中小企业金融体系中具有独特的优势。从中小企业融资的角度看,担保业在当前金融体系中的作用显得尤为重要。中小企业信用担保体系的建设和发展,对缓解中小企业贷款困难,提升中小企业信用等级,促进中小企业健康发展,对扩大就业、培育税源,发挥了积极的作用。在其发展过程中,中小企业信用担保实际上已经成为一种集政策性因素与商业性操作工具、手段相融合的金融工具。
当前,迅速发展的中小企业信用担保机构对缓解中小企业融资难发挥了积极作用,但同时也暴露出越来越多的矛盾和问题,面临诸多挑战。应对中小企业而产生的中小企业信用担保机构是一个专业性很强的高风险行业,如何加强内部管理,推进业务发展与创新,探求行业发展壮大的可持续经营之道,是众多担保机构普遍关注的课题。
通过对中小企业信用担保机构的研究,考察其风险管理和经营效率,对不同的问题采用不同的对策,这有助于担保机构降低风险、分散风险、转移和补偿风险,提高担保公司的风险控制能力和担保公司竞争能力,促进担保机构的健康发展,也有助于促进良好信用环境的形成,有助于化解社会间接融资压力,有助于推动金融创新,对政府实现政策目标亦具有重要的理论意义和现实实践意义。
中小企业信用担保机构对中小企业发展有着重要的促进作用,同时,市场竞争、风险管理和经营效率也要求中小企业信用担保机构不断创新,实现可持续发展。鉴于此,本文从中小企业信用担保机构的地位、经营方式等现实基础出发,从风险管理、经营效率和经营模式创新等方面系统探讨中小企业信用担保机构的可持续发展。
本文的研究内容如下：
第1章是绪言,介绍本文的研究背景与研究意义、研究思路与框架、研究内容与方法以及创新与不足等。
第2章对中小企业信用担保机构与企业、银行关系进行逻辑分析。从信用担保的制度起源和中小企业信用担保机构的市场作用两个角度分析其存在的必然性。信用担保制度在各国的普遍存在和不断发展壮大充分说明它是促进中小企业融资的长期有效形式。中小企业信用担保体系与中小企业、商业银行之间的关系分析表明,中小企业信用担保机构应加强管理与创新提高市场地位与作用。
第3章探讨信用担保机构的运行方式。该章首先逐一考察了中小企业信用担保体系中主要的三种模式：政策性担保、互助性担保和商业性担保。随后,讨论了我国中小企业信用担保模式发展现状,发现伴随着担保机构实力及资金规模的扩大,其利润却没能随之增长,2010-2011年担保机构的经营受到很大冲击。我国中小企业担保机构在各地出现了一定的创新模式。
第4章从经营效率的角度探讨中小企业信用担保机构的可持续发展。为提高竞争力,担保公司在发展过程中理应注重自己的经营效率。本文采用广义DEA模型从产出方向评估中小企业信用担保机构的经营效率。经研究发现,担保公司整体上的效率随着时间不断发生着变化,担保公司在2011年的效率总体相对稳定,在2012年效率有所下降,并且不同公司之间的效率差异增加,宏观经济形势变化导致担保公司的经营效率产生较大波动,总体上年初效率较高。持续的经营会增强担保公司经营效率的稳定性。
第5章从风险管理的角度探讨中小企业信用担保机构的可持续发展。从风险的角度看,信用担保本质是银行将中小企业贷款风险转嫁给担保公司和担保公司凭自身风险管理的能力化解风险的过程。风险管理是担保公司的首要任务,风险管理能力是担保公司生存和持续发展最重要的能力。中小企业信用担保机构应该积极实施全面风险管理,在全面风险管理策略下,中小企业信用担保风险管理指标体系不仅包括预警机制,还包括对风险的控制机制。在预警和控制机制中不仅考虑账户、财务等常规信息,还包括人事、家庭等各种非财务因素的信息。形成完善的风险管理体系、建立可持续的商业模式有助于其实现可持续发展。
第6章讨论信用担保机构运行综合创新与可持续发展。盈利模式创新是中小企业信用担保机构可持续经营的基础。有效分散受保企业信用风险,落实受保企业的反担保措施,这是信用担保机构经营之关键,担保机构应在担保品种和反担保方式上进行创新。提高运行效率是信用担保机构在激烈的同业竞争中脱颖而出的保证,信用担保机构应坚持安全性、流动性、收益性原则,市场化运作的可持续审慎经营模式。
第7章是结论与政策建议。
本文的创新之处在于：一方面,本文在阐述中小企业信用担保经营绩效和风险管理现状的基础上,采用广义DEA模型从产出方向评估中小企业信用担保机构的经营效率,进一步讨论了中小担保机构的效率变化。另一方面,本文从多方面探讨了模式创新引领的可持续发展,包括盈利模式创新、风险管理路径创新和合作流程创新等。由于数据的限制,本文在对中小企业信用担保机构风险管理的研究中,没有采用申请担保的公司的财务指标等数据进行经验研究,未来随着数据的进一步完善,本人将作进一步的深入研究。
Guarantee, a form of economic activity, has been played as a link between banks and enterprises in the macro socio-economic system. Via credit guarantees, banks can reduce the spend of the information asymmetry, the cost of management costs and the loan risks. Via credit guarantees, enterprises can also obtain funds due to third-party credit enhancement, leading to the increase of the financing efficiency in the whole community. The SME Guarantee Corporations are professional, which have obtained the economic and social benefits through lending credit resources and controlling of credit risk.
The development of China's guarantee industry is the product of the continuous development of entire economic system transition and market economy system. Guarantee industry in China is generated in the process of financial reform and adjustment of national industrial policy. Although with only a dozen years of development, guarantees industry gets rapid growth, and becomes an emerging dynamic industry.
As China's banking system can't meet the financing needs of the majority of small and medium-sized enterprises, the credit guarantee industry in China has unique advantages in the financial system for small and medium-sized enterprises. From the view of SME financing, the guarantee industry has played a significant role in the current financial system. The construction and development of the SME credit guarantee system, has played a positive role on alleviating the difficulties of SME loans, enhancing the credit rating of SMEs, promoting the healthy development of small and medium enterprises, and expanding employment and cultivating sources of tax revenue. As a result, SME credit guarantee has actually become an integration tool of policy factors and the commercial operation of instruments.
At present, though the rapid development of the SME credit guarantee institutions plays a positive role on easing the financing difficulties of SMEs, it also exposes a growing number of contradictions and problems. Such makes the SME credit guarantee institutions highly specialized and high-risk industries. How to strengthen internal management, promote business development and innovation, and explore the way to grow and sustainable develop, is the widespread concern topic of many guarantee institutions.
Through exploring the SME credit guarantee institutions, examining their risk management and operational efficiency, and taking different tactics for different problems, it will help the guarantee institutions to reduce, diversify, transfer and compensate risks, and improve their risk control capacity and competitiveness, leading to the promotion of the healthy development of the guarantee institutions. It also helps to promote the formation of a good credit environment, resolve social indirect financing pressure, promote financial innovation, and pursue government policy goals, which have both important theoretical and practical significance.
SME credit guarantee institutions have played an important role in promoting the development of small and medium-sized enterprises. In the other way, market competition, risk management and operational efficiency also require SME credit guarantee institutions innovation and sustainable development. This paper, bases on the status, mode of operation and reality basis of the SME credit guarantee institutions, probes the sustainable development of the SME credit guarantee institutions from risk management, operational efficiency and business model innovation system.
Based on the framework, the content of this study are:
Chapter One is the introduction, which introduces the research background, key points, framework, contents, methods of research, innovation and inadequate.
Chapter Two is a logical analysis of the role of the SME credit guarantee institutions. The necessity of the SME credit guarantee institutions has been discussed from two views: the origin of the credit guarantee system and the role of the SME credit guarantee. The widespread existence of credit guarantee system in countries which continues to grow and develop fully shows that it is a long-term effective form to promote the SME financing. The relationship between the SME credit guarantee system, small and medium-sized enterprises, and commercial banks shows that the SME credit guarantee institutions should strengthen management and innovation to improve the market position and role.
Chapter Three explores the operation mode of the credit guarantee institutions. First, three main modes of SME credit guarantee system in China is discussed one by one:policy guarantees, Mutual guarantees and commercial guarantees. Then, it examines the development status of China's SME credit guarantee mode. It shows that along with the expansion of the strength and the funds scale of the guarantee institutions, profit growth has been relatively stable, failing to follow up. In2010-2011there is a great impact on the operation of the guarantee institutions. Guarantee institutions for SMEs in China have been some innovative models around.
Chapter Four probes the sustainable development of SME credit guarantee institutions from the view of risk management. The identity of the credit guarantee is the process to pass those SME loan risks to guarantee companies and to mitigate risks by their own risk management capabilities. Risk management is the primary task of the guarantee institutions, and risk management ability is the most important skill for guarantee institution's survival and sustainable development. The SME credit guarantee institutions should actively implement the comprehensive risk management. Under the comprehensive risk management strategy, the SME credit guarantee risk management index system includes not only early warning mechanisms, but also the risk control mechanism. Early warning and control mechanisms not only consider the account, financial general information, and the personnel, family and other non-financial factors have been considered as well. Forming a comprehensive risk management system and establishing a sustainable business model can help guarantee institutions to achieve sustainable development.
Chapter Five discusses sustainable development of SME credit guarantee institutions from the view of operational efficiency. To improve competitiveness, guarantee institutions should focus on their operational efficiency in the process of development. In this paper, the generalized DEA model is used to assess the operational efficiency of the SME credit guarantee institutions from the output direction. It is found that guarantee institution's overall efficiency constantly changes over time:the efficiency of guarantee institutions in2011kept overall stability, but declined in2012. The increases of the efficiency between different companies have different reasons. The changes of macroeconomic situation lead to greater volatility in guarantee institution's operating efficiency, while they have higher overall efficiency at the beginning of the year. Continuing operations will enhance the stability of operating efficiency of guarantee companies.
Chapter Six discusses comprehensive innovations and sustainable development of operating mode in the credit guarantee institutions. Profit model innovation is an ongoing basis of the SME credit guarantee institutions. Effectively dispersing the insured corporate credit risk and the implementation of counter-guarantee measures, these are the key points to the operation of credit guarantee institutions. Guarantee institutions should be innovative in the way of collateral and counter-guarantees. Improving operational efficiency is the pledge for credit guarantee institutions to stand out in the fierce competition with other banks. Credit guarantee institutions should adhere to the principle of safety, liquidity and profitability, and the market-oriented operation of sustainable prudent business model.
Chapter Seven includes conclusions and policy recommendations.
The innovations of this paper are:on one hand, this paper used the generalized DEA model to assess the operational efficiency of the SME credit guarantee institutions from the output direction on the basis of the SME credit guarantee business performance and risk management status, and further discussed the changes in the efficiency of small and medium-sized guarantee. On the other hand, this article explored the sustainable development model from innovations in many ways, including innovations in profit model, innovations of risk management path and innovations in cooperation process. Due to the data limitation, this study of SME credit guarantee institutions risk management does not apply the company's financial indicators data for empirical research. In future, with the improvement of data, this paper will have a further in-depth study.
引文
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