Credit Risk Assessment of Zhejiang Private Enterprises Basing on Life-Cycle Theory
|School||Zhejiang University of Technology|
|Keywords||Zhejiang Private Enterprises Corporate life cycle Credit assessment Index system|
Since the reform and opening up 30 years , the private economy plays a very important role to improve the efficiency of the national economy , expand employment rate , stimulating domestic demand , promote productivity and social progress , and promote the sound development of economic health . Zhejiang as the private economy developed provinces , but also for the country's economy to make a very large contribution . However, most of the private enterprises are often constrained by lack of funds and unable to carry out the necessary financing to expand production in order to obtain rapid development . Banks and other financial institutions are often shut out of the private enterprises , especially private enterprises in the early stages of development . How to establish an objective and fair criteria for credit assessment is essential . For businesses, generally go through four stages of the life cycle : the investment period , growth , maturity, a period of recession . From domestic and foreign enterprise credit evaluation theory , closely around the factors affecting the different stages of the system design a credit evaluation system for private enterprises at different stages of the life cycle . First, the combination of corporate credit factor theory , private enterprises in Zhejiang credit rating content and construct an indicator . Secondly , based on the characteristics of the different stages of the life cycle , design a different focus of the two indicators , various indicators of the relative importance of the coefficients and validate then using the analytic hierarchy process . Finally, using the percentage system scoring method , according to the different stages of the life cycle of private enterprises in Zhejiang on indicators of the actual score calculated credit score , to draw corporate credit rating based on the criteria for the classification of the credit rating , financial institutions, banks, guarantee institutions provide a basis for decision making . Finally , select several private enterprises in Zhejiang Province , for example , built on the subject of credit evaluation system to verify , so as to arrive this article point of view of scientific rationality , while the development of domestic enterprises credit assessment industry pertinent suggestions .