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The research of information asymmetry in credit financing of SMEs based on the data of 267

Author: ZhuYunFeng
Tutor: YinXingMin
School: Fudan University
Course: Finance
Keywords: SME Financing Commercial Bank Information Asymmetry Credit Constraint RAROC
CLC: F832.4
Type: Master's thesis
Year: 2012
Downloads: 173
Quote: 0
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Abstract


This article makes the use of the asymmetric information theory to identify the one of the roots of financing difficulties of the SMEs. Meanwhile, it is based on an empirical examination to itemize the influence of imperfect information and quantify its magnitude in the event of commercial banks’credit offering. The innovation of this article lies in the adoption of the concept RAROC (Risk Adjusted Return on Capital). By comparing the RAROC result of267SME credit customers of a domestic commercial bank, it is found that the bank inclined to accept lower RAROC for familiar customer, whist request much higher RAROC for those unfamiliar SME customer overall speaking. It implied that those SMEs unfamiliar to the bank have large possibility to be expelled from the credit market and unable to obtain the loan. The research of this article testified that information asymmetry is one of the major reason of "credit constraint" facing the SMEs.

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CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Credit
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