改革开放以来，我国中小企业已迅速成为推动国民经济发展的主力军，在提 高生产力、增加就业机会、刺激消费增长等方面发挥了重要作用。商业银行是中 小企业寻求融资最基本的通道，为企业发放贷款也是银行最基本的业务。然而目 前中小企业普遍融资困难，陷入财务困境，这一现象已引起广泛关注。这主要有 两方面原因，一是中小企业自身基础薄弱，生产规模有限，信息披露不全面，存 在信息孤岛现象，从而影响中小企业整体信用；二是现阶段我国商业银行信用评 级体系存在不完善、不健全的问题，特别是针对中小企业的信用评级体系，造成 中小企业得到的评级等级不高，从而影响商业银行发放的贷款规模。因此，研究 我国商业银行中小企业信用评级体系存在问题，并对其进行优化具有重要的理论 及实践意义。本文旨在通过建立符合我国实际情况的、科学的中小企业信用评级 体系来解决中小企业信用评级问题，提高商业银行风险识别能力和市场竞争力， 并能够为银行业提供一定借鉴意义。 本文以信用评级的概念为逻辑起点，从信用评级建立的理论依据、评级方法 和相关模型等国内外研究成果入手，剖析了目前我国商业银行中小企业信用评级 体系的发展现状，并选取Z银行为基本研究对象，提出其中小企业信用评级体系 中评级模型、评级指标等存在的问题。结合对现存问题的理论分析和实践结果， 本文对Z银行中小企业信用评级体系进行优化，从定性和定量两个方面设计指标 体系，采用层次分析法和YAAHP软件对指标权重进行重新赋值并通过一致性检 验，以FJNF公司为例进行案例应用分析，对优化前后的评级结果进行比较，验 证了优化体系的合理性和可行性。 本文提议商业银行从信用制度建设、信息资源共享、评级体系优化、专业人 员培养等方面着手，提高评级结果的准确度和有效性；中小企业也要提高信用风 险意识，加强财务数据披露，保障中小企业信用评级顺利实施。 关键词：商业银行，中小企业，信用评级，评级模型，层次分析法 II ResearchonCreditRatingSystemofSmalland Medium-SizedEnterprisesinCommercialBanks ——ACaseStudyofZBank Abstract Sincethereformandopening-upinChina,smallandmedium-sizedenterprises (SMEs)havebeengrownupasthemainforceofChina’snationaleconomic development.Theyplayanimportantroleinimprovingproductivity,increasing employmentopportunitiesandstimulatingconsumptiongrowthmercialbanks arethemostbasicfinancingchannelsforSMEs,andissuingloanstoSMEsisthe mostbasicbusinessofbanks.However,SMEsgenerallyhavedifficultiesinfinancing andarecaughtinfinancialtroubleswhichdrawwidespreadattention.Therearetwo mainreasons.Ontheonehand,theweakfoundation,limitedscaleofproductionand theexistenceofinformationsilosunderminetheoverallcreditofSMEs;Ontheother hand,thereisnocreditratingsystemforSMEs,whichresultsinalowerratinglevel ofSMEsthantheactualsituationandthelackofloansscalefromcommercialbanks. Therefore,thestudyoftheproblemsincommercialbankcreditratingsystemandthe system’soptimizationdirectionhasveryimportanttheoreticalandpractical significance.ThispaperaimstosolvetheproblemoftheSMEcreditrating,improve theabilityofcreditriskidentificationandprovidereferenceforbanksbyestablishing ascientificSMEcreditratingsystemwhichisinlinewithChina'sactualsituation. ThispaperseestheconceptofSMEcreditratingasitslogicalstartingpoint, startswiththetheoreticalbasisoftheestablishmentofcreditratingsystem,the domesticandforeignresearchstatusoncreditratingmethodsandtherelevantrating modelandtheresearchoncreditratingofSMEs,analysesthedevelopmentstatusof SMEcreditratingsysteminChina’scommercialbanks,andtakesZBankasthe researchobject,putsforwardsomeproblemsexistingintheSMEcreditratingsystem, forexample,theratingmodelandratingindex.Accordingtothetheoreticalanalysis andthepracticalresearch,thispaperoptimizesthecreditratingsystemofZBankfor SMEs,designsindexsystembybothqualitativeandquantitativeanalyses,confirms III theindexweights,goesthroughconsistencytestbyanalytichierarchyprocess(AHP) andsoftwareYAAHP,andthentakesFJNFcompanyasanexampleforapplication research,comparesandcontraststhecreditratingresults,whichverifytherationality andfeasibilityofthemodelsystem. Thispaperproposesthatcommercialbanksshouldfocusoncreditsystem construction,informationresourcessharing,ratingsystemoptimizationandtraining ofprofessionaltalents,inordertopromotetheaccuracyandeffectivenessofthe ratingresults.Onthesametime,SMEsshouldmakesomeefforts,suchasraisingthe creditriskawareness,strengtheningthefinancialdatareleaseandsoon,inorderto ensuretheconstructionandimprovementofSMEcreditratingsystem. Keywords:Commercialbank,Smallandmedium-sized enterprises,Creditrating,Ratingmodel,Analytichierarchy process IV 目录 中文摘要........................................................................................................................I Abstract......................................................................................................................II 第一章绪论..................................................................................................................1 1.1研究背景及研究意义.....................................................................................1 1.1.1研究背景..............................................................................................1 1.1.2研究意义..............................................................................................1 1.2文献综述.........................................................................................................2 1.2.1中小企业信用风险..............................................................................2 1.2.2中小企业信用评级存在问题..............................................................3 1.2.3中小企业信用评级模型......................................................................4 1.2.4研究综评..............................................................................................5 1.3研究方法与研究内容.....................................................................................6 1.3.1研究方法..............................................................................................6 1.3.2技术路线..............................................................................................7 1.3.3研究内容..............................................................................................8 1.4研究创新.........................................................................................................9 第二章相关概念与理论基础....................................................................................10 2.1信用评级基本概念.......................................................................................10 2.2信用评级理论基础.......................................................................................11 2.2.1信息不对称理论................................................................................11 2.2.2交易费用理论....................................................................................11 2.2.3企业生命周期理论............................................................................12 2.3信用评级方法...............................................................................................12 2.3.1专家判断法........................................................................................12 2.3.2统计模型法........................................................................................13 2.3.3外部分析法........................................................................................15 第三章商业银行中小企业信用评级体系现状及问题............................................17 3.1我国中小企业信用评级体系发展现状.......................................................17 3.1.1信用评级指标和方法........................................................................18 3.1.2信用等级和标准划分........................................................................19 3.2商业银行视角下的中小企业信用评级问题...............................................19 V 3.2.1生产经营方面——波动大................................................................19 3.2.2信息获取方面——难度大................................................................20 3.2.3信息披露方面——失真大................................................................20 3.3Z银行视角下的信用评级体系存在问题....................................................21 3.3.1Z银行现行评级体系概况.................