The Evolutionary Game Analysis of Credit Behavior of SME in Guaranteed Loans Organization

摘要

The guaranteed loans mode was proposed to solve the small and medium enterprises’ financing difficulties, but it did not achieve the desired results. The credit risk of organization would cause a chain reaction and result in huge losses. In this paper, we studied the credit behavior of companies by evolutionary game theory. First, we analyzed the situation when the organization composed by two companies and found out the conditions that ensure the sustained and stable development. Further, we researched the organization of a number of enterprises. The result shown that implement reasonable entry and exit mechanisms could effectively manage and control credit risk.