Decision-making of Banks on Credit for SMEs under Risk Management: New Methodology and Application

摘要：

At present, the rapid development of small and medium enterprises (SMEs) especially technological SMEs in China calls for a further development of Chinas financial market. While the direct financial market needs to be further improved, commercial bank credit for SMEs undoubtedly becomes the main force to support the development of SMEs. The high risk of SMEs requires commercial banks to make credit decision based on effective risk management. Focusing on technological SMEs, this paper reviews the venture capital evaluation approach, and then puts forward an innovation of using the multi-stage compound real option approach in credit decision making for technological SMEs and achieving a multistage credit decision-making for SMEs based on the enterprises value of each stage. In this way, commercial banks can admeasure technological SMEs credit reasonably and also prevent the credit risk effectively.

关键词： Commercial Banks technological SMEs Credit Multi-stage Compound Real Options risk management

作者: Chen Zhang Ning Zhang Weidong Zhu Yong Wu

作者单位: School of Management, Hefei University of Technology

会议类型: 国际会议

会议名称: The 1st International Conference on Risk Analysis and Crisis Response(首届风险分析与危机反应国际学术研讨会)

会议地点: 上海

会议语种:英文

页码: 92-97

在线出版日期: 2007-09-25（万方平台首次上网日期，不代表论文的发表时间）