To research the operating mechanisms of rural financial reform, through setting up a contract model, the constraint roles of reputation and legal intervention on the default risk arising in the operating of the credit...To research the operating mechanisms of rural financial reform, through setting up a contract model, the constraint roles of reputation and legal intervention on the default risk arising in the operating of the credit union funds are inspected. Analysis indicates that the increase in reputation cost can reduce the probability of union member default behavior and the probability of turning to the law for the credit union funds. Meanwhile, the amount of loans and the interest rates can increase the probability of turning to the law for the credit union funds. Below the marginal values, the penalty mechanisms can reduce the balancing probabilities of member default behavior and turning to the law for the credit union funds, namely, the penalty has some "substitution effect" for turning to the law for the credit union funds.展开更多
After a long process of development and perfection,the credit assignment system plays an important role in the modern market economy,which has been approved all over the world. However,as far as the credit assignment ...After a long process of development and perfection,the credit assignment system plays an important role in the modern market economy,which has been approved all over the world. However,as far as the credit assignment theory is concerned,it seems that debates and discussions about it will never end. Based on the content and developing process of credit assignment,this paper analyzes the value proposition of credit assignment,making comments on the quasi- property theory and the contract theory of credit assignment,based on which this paper researches on the effective elements and the internal and external efficacy of credit assignment.展开更多
基金The Philosophy and Social Sciences Program of Guangdong during the 11th Five-Year Plan Period for 2007(No.07D02)the Major Tender of Guangdong for 2007(No.KT005)
文摘To research the operating mechanisms of rural financial reform, through setting up a contract model, the constraint roles of reputation and legal intervention on the default risk arising in the operating of the credit union funds are inspected. Analysis indicates that the increase in reputation cost can reduce the probability of union member default behavior and the probability of turning to the law for the credit union funds. Meanwhile, the amount of loans and the interest rates can increase the probability of turning to the law for the credit union funds. Below the marginal values, the penalty mechanisms can reduce the balancing probabilities of member default behavior and turning to the law for the credit union funds, namely, the penalty has some "substitution effect" for turning to the law for the credit union funds.
文摘After a long process of development and perfection,the credit assignment system plays an important role in the modern market economy,which has been approved all over the world. However,as far as the credit assignment theory is concerned,it seems that debates and discussions about it will never end. Based on the content and developing process of credit assignment,this paper analyzes the value proposition of credit assignment,making comments on the quasi- property theory and the contract theory of credit assignment,based on which this paper researches on the effective elements and the internal and external efficacy of credit assignment.
