中小微企业融资租赁违约风险揭示:识别与机制分析

IF 2.8 3区经济学 Q2 BUSINESS

Emerging Markets Finance and Trade Pub Date : 2023-08-29 DOI:10.1080/1540496X.2023.2250904

Jun Ren, Shengxian Gao, Dongliang Pan

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引用次数: 0

摘要

本文以2018 - 2021年中国某融资租赁公司的真实交易数据为基础，对中国中小融资租赁企业的违约风险进行了研究。结果表明，融资规模与承租企业违约风险呈负相关。融资租赁业务的管理成本调节了业务规模与逾期违约风险之间的关系。此外，随着行业竞争的改善，预计将为承租人选择财务状况良好的中小微企业。这些企业在获得大规模融资租赁服务方面表现出较高的抗风险能力。我们对中国融资租赁公司的风险管理提供了新颖的见解，并为监管和发展提供了政策建议。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Revealing the Default Risks in MSMEs Financial Leasing: Identification and Underlying Mechanism

ABSTRACT We explored the default risk of small and medium-sized financial leasing businesses in China based on real transactions of a Chinese financial leasing company from 2018 to 2021. The results show that there is a negative relationship between the financing scale and the default risk of lessee companies. The management cost of financial leasing business moderates the relationship between the business scale and the risk of overdue default. In addition, the improvement of industry competition is expected to select financially sound MSMEs for lessees. These enterprises have demonstrated higher risk resistance in obtaining large-scale financial leasing services. We provide novel insights into the risk management of Chinese financial leasing companies and offer policy recommendations for regulation and development.

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来源期刊

Emerging Markets Finance and Trade Multiple-

CiteScore

7.80

自引率

10.00%

发文量

182

期刊介绍： Emerging Markets Finance and Trade publishes research papers on financial and economic aspects of emerging economies. The journal features contributions that are policy oriented and interdisciplinary, employing sound econometric methods, using macro, micro, financial, institutional, and political economy data. Geographical coverage includes emerging market economies of Europe, the Balkans, the Middle East, Asia, Africa, and Latin America. Additionally, the journal will publish thematic issues and occasional special issues featuring selected research papers from major conferences worldwide.