中小企业生命周期与银行信贷资产质量

The Life Cycle of SME and the Quality of Bank Credit Assets

本文以浙江省6 381家县域中小企业银行信贷数据为样本,分析中小企业生命周期与银行信贷资产质量的关系,检验中小企业生命周期对信贷资产质量影响的传导机制。结果表明:处于不同生命周期中小企业的信贷资产质量从高到低的次序为成熟期、成立期、衰退期和成长期;中小企业的生命周期通过直接嵌入和间接嵌入两条路径影响信贷资产质量,其中,信用评级为间接路径的传导变量。因此,应强化生命周期的间接嵌入作用,做好中小企业信贷风险预警;建立中小企业信息数据库;建立基于生命周期的中小企业信贷资产管理长效机制等。

This paper uses the credit data of 6 381 SMEs in the Counties of Zhejiang province as samples to analyse the rela- tionship between the life cycle of SME and the quality of bank credit assets, and tests the transmission mechanism of the im- pacts of the life cycle on the quality of credit assets. The results of the paper show that the quality of credit assets of SMEs in different life cycles ranks from top to bottom in such an order： maturity period, establishment period, recession period and growth period; by two approaches of direct embedding and indirect embedding, the life cycle influences the quality of credit as- sets, and credit rating is a transmission variable of indirect approach. Therefore, we should strengthen the function of the indirect embedding of life cycle and improve the risk warning of the credits of SMEs; establish the information database of SMEs; create a long-term effective and life-cycle-based management mechanism of the credit assets of SMEs.