| dc.description.abstract | This paper mainly discusses the factors affecting the SME (Small and Medium-sized Enterprises) loan default.
Take SMEs apply for credit guarantee fund from 2012 to 2013 as a sample, through T-test and logistic regression analysis, selecting ten of variables: the number of years of establishment, debt ratio, business finance ratio, amount of capital, number of employees, sales revenue, amount of credit guarantee, credit guarantee ratio, gender of the owner, and industry...etc. to perform empirical research.
The results of the study found that (I) Through T-test, it can be known that there′re five variables of loan default, including the number of years of establishment, number of employees, sales revenue, amount of credit guarantee, and credit guarantee ratio, are all lower than the average, and its differences are significant. It implies that these five variables represent a negative correlation with the default probability, and the influence is significant. (II) Through logistic regression analysis, it can be found that there′re four variables, such as the number of years of establishment, the number of employees, amount of credit guarantee, and the credit guarantee ratio, are negatively related to the probability of default; but the amount of capital are positively related to the probability of default, which means the larger amount of capital, the larger probability of the default is. It also indicates the risk may not be reduced with the company size increased.
The purpose of this study is effectively to enhance the bank′s ability to manage credit risk of SMEs, and to be a basis for evaluating the financing of SMEs. | en_US |