Game Analysis of SMEs Advantages on Financing
In recent years, our SMEs have developed rapidly and radically. These SMEs account for over half of the total enterprises in our country and over half of the employment, revenues, imports and exports are involved in them. However, the development of these SMEs has hampered by financing.With the springing up of the SMEs, the effect of scale can be achieved by cluster financing that is an effective approach. The thesis discusses the reason why the SMEs are so difficult to obtain financing theoretically and practically. And it also demonstrates the SMEs advantages on financing in detail.Through game theory, it proves that the game between banks and enterprises can lead to the information symmetry, less adverse selection, and lower moral risk. Whats more, the reliable credit in the industrial cluster and effective information circulation can lower the transaction cost. Cluster financing can make the SMEs obtain valid mortgage guaranty, and then make the risk of credit loan become lower.According to these analyses, we can conclude the strategic significance of the SME clusters financing.It is believed that credit and commitment can make the bank and the enterprise establish cooperation relationship during the repetitious dynamic game.
SME (small and medium-sized enterprises) cluster financing game theory
ZHANG Guoliang
School of Management and Economics Sbenyang Institute of Aeronautical Engineering
国际会议
2008 International Conference of Management Science and Engineering(2008管理科学与工程国际学术会议)
河南焦作
英文
347-352
2008-11-01（万方平台首次上网日期，不代表论文的发表时间）