面向小微企业的互联网金融模式创新与决策优化

Mode Innovation and Decision Analysis of Network Financing for Small and Micro Enterprises

面向小微企业的互联网金融日益受到国内外企业界和学术界的重视。针对小微企业的信贷特点和融资需求,设计了基于集聚优势的网络池融资方式,并对比分析了网络联保融资与网络池融资模式的异同点。考虑到小微企业的信用风险,运用博弈论方法分别构建了网络联保融资和网络池融资模式下银行、电商及小微企业的决策模型,并对比分析了各个参与主体在不同融资模式下的不同决策。研究结果表明,在网络联保模式下,电商平台应制定合理的网络联保体规模并控制各参与企业的融资额度,以最大程度降低网络联保体的违约风险;在网络池融资模式下,电商平台应通过制定合理的融资利率,吸引小微企业选择网络池融资,从而实现多方共赢。

Network financing based on electronic business platform for small and micro enterprises has increasingly been the focus among international and domestic e-business industries and academic fields. According to the credit and financing characteristics, the network credit pooling financing mode is designed and the comparison analysis of Similarities and differences between the net- work joint liability financing mode and the network pooling financing mode is conducted. Considering the small and micro enterpri- ses＂ credit risks, we respectively construct the decision model and make game analysis of the bank, the e-business and the small and micro enterprises for each financing mode. It concluded that the e-business should control the scale of the network joint finan cing group to avoid the default risk and set an appropriate interest rate to encourage the small and micro enterprises to adopt the network credit pooling financing mode in order to realize the ＂all-win＂ effect.