基于相对熵的存货质押融资模式下中小企业信用评价

Credit Evaluation of SEMs in Inventory Financing Mode based on Relative Entropy

针对存货质押融资模式下各参与主体的多元性,在中小企业信用评价的过程中需要克服其信用评价具有主观性、复杂性和模糊性的难题;同时,考虑到主、客观赋权法各有优缺点,应通过相对熵的组合赋权法确定各项评价指标的权重。在组合赋权的过程中,可以先分别采用层次分析法、熵权法从主观、客观的角度进行赋权,再采用相对熵法实现组合赋权。另外,采用线性加权和法对24家样本中小企业进行信用评价,构建中小企业信用评价指标体系,实证结果验证了组合赋权的可行性与适用性。

For the diversity of each participation in the inventory financing, it needs to overcome its sub-jectivity, complexity and fuzziness in the process of credit evaluation of SEMs. Meanwhile, considering thesubjective and objective method has its advantages and disadvantages, this paper weight each indicators byrelative entropy based on combination weighting method. In the process of combination of empowerment,weight each indicators from the angle of subjectivity and objectivity based on analytic hierarchy process andentropy, then, using the relative entropy method to achieve the combination weighting. This paper also buildsa credit evaluation index system of SEMs, and by using the linear weighted method evaluated the sample of 24 SEMs, the empirical results verify the feasibility and applicability of the combination weighting.