银行信贷配给与中小企业贷款--一个内生化抵押品和企业规模的理论模型

本文在吸收其他文献合理成分的基础上 ,通过考虑贷款抵押品的信号甄别机制和银行审查成本对贷款额的影响 ,将借款企业的资产规模、风险类型与抵押品价值相联系 ,构建了内生化抵押品和企业规模的均衡信贷配给模型。根据该模型 ,在信贷配给中被剔除的主要是资产规模小于银行所要求的临界抵押品价值的中小企业和部分高风险企业。本文的理论模型对于更好地理解市场经济及转型经济条件下的中小企业融资难问题提供了启示。

On the Bank Credit Rationing and Loan of Small and Medium-Sized Enterprises (SMEs)

This paper, based on some reasonable points of other literatures, discusses the relationship of asset size, risk type and value of collateral in term of signal screening and costly monitoring, which are integrated in a model of credit rationing with endogenous collateral and firm asset size. According to this model, we try to find the reason why SMEs and some high-risk enterprises are wept out from credit market. The theoretical model could be useful of understanding the problems of SMEs on credit market in market economy and transitional economy.