商业银行的信贷合约设计与中小企业信贷问题

商业银行贷款利率在我国还没有放开，而商业银行资产负债比例管理模式已经开始推行，这在理论和实践上给商业银行的信贷方案设计带来了困难。中小企业贷款难问题是一段时期以来困扰我国经济发展的一个重要因素。本文从西方信贷合约设计理论的角度来探讨这一问题，试图解释现实中我国商业银行对中小企业的某些信贷行为。

The design of commercial bank's loan contract and the credit problem of small-medium enterprises

In China, Asset/Liability Management (ALM) has been put into practice, however, loan interest rate is still controlled by the central bank, that leads to some difficulties for commercial banks in designing credit contracts. In the paper, a model is set up, trying to explain some credit behaviors of banks to small-medium enterprises in China. When borrowers' collateral values are so low that banks could not sort borrowers by offering sorting credit contracts, credit cherishing would occur. Asymmetry information between banks and enterprises, high investment risks and low collateral value of enterprises are the key factors to bring credit cherishing in China.