担保融资机制的风险防控与优化设计研究——基于最佳担保链社会关系网络结构角度的分析

Risk Prevention and Optimized Design of Guarantee Financing Mechanism——Analysis on the Structure of Social Relationship Network Based on Best Guarantees Chain

在把防范系统性风险摆在更加重要位置的现实背景下,本文从担保链中的社会关系网络结构角度入手,对担保融资机制进行优化设计,以降低担保融资的风险。研究发现:当货币供应平稳时,最佳担保链社会关系网络结构是把所有企业都聚集在一个社会网络中;当货币供应紧缩时,最佳担保链社会关系网络结构是尽可能把所有企业划分到不同的社会网络中。齐星集团和浙江绍兴华联三鑫的担保链断裂案例也进一步印证了相关结论。

Against the background of preventing systemic risk from rising to a more important position, this paper starts from the perspective of social network structure in guarantee chain, and studies the risk contagion effect of reducing guarantee financing. The study found that when the macro-economy is in a stable stage, the network structure of best guaranty chain social network is to gather all enterprises in a social network. When the macro-economy is in the downward direc- tion, the network structure of best guaranty chain social network is as far as pos- sible that all businesses are divided into different social networks. Oi Xing Group and Zhejiang Shaoxing Hualian Sanxin chain of guarantee cases of fracture is further confirmed the relevant conclusions.