The Journal of Small Business Innovation (기업가정신과 벤처연구)

The Korean Association of Small Business studies (한국중소기업학회)
권호 표지

Impacts of SME Credit and Technology Information Sharing upon Banks' Credit Analysis

중소기업정보 공유가 은행의 신용분석에 미치는 영향

  • Received : 2017.08.17
  • Accepted : 2017.10.05
  • Published : 2017.10.31
Download PDF
⟨ Previous Next ⟩

Abstract

Today's new engine of economic growth is innovative technology intensive SMEs. However, they have limited access to funding because of asymmetric information problems. Sharing of SME information helps reduce information asymmetry. This paper explains the Korean system of SME technology information sharing, as well as SME credit information sharing. It also provides theoretical analysis about the effects of the SME information sharing on banks' credit analysis activities, based on Karapetyan and Stacescu (2013). Sharing of SME credit and technology information expands the data set of banks and it will enhance their credit analysis. In addition, SME information sharing increases banks' investments in credit analysis activities. To encourage SME information sharing and production, the government can subsidize the production of SME technology information.

현대 경제의 새로운 성장엔진은 혁신적인 기술 집약형 중소기업이다. 그러나 많은 중소기업들이 비대칭 정보 문제로 인해 자금 조달에 애로를 겪고 있다. 중소기업에 대한 정보를 공유하면 이러한 비대칭 정보의 문제를 완화할 수 있다. 이 논문은 한국의 중소기업 신용정보 및 기술정보 공유시스템에 대해 설명한다. 그리고 Karapetyan and Stacescu(2013)에 기초하여 중소기업정보 공유가 은행의 신용분석 활동에 어떠한 영향을 미치는지에 대해 이론적으로 분석한다. 중소기업에 대한 정보 공유가 확대되면 은행의 정보집합이 늘어날 뿐 아니라 은행의 신용분석 활동이 촉진되는 효과가 있다. 이에 따라 정부는 중소기업정보의 생산 및 공유를 활성화하기 위해 다양한 유인책을 제시할 필요가 있다.

Keywords

References

  1. Engelbrecht-Wiggans, R., P. Milgrom, and R. J. Weber (1983). "Competitive bidding and proprietary information," Journal of Mathernatical Economics 11, 161-169. https://doi.org/10.1016/0304-4068(83)90034-4
  2. Financial Services Commission (2014). Action Plan to Promote 'Creative Finance', Press Release.
  3. Karapetyan, A. and B. Stacescu (2014). "Information Sharing and Information Acquisition in Credit Markets," Review of Finance 18(4), 1583-1615. https://doi.org/10.1093/rof/rft031
  4. Korea Credit Information Services (2017). "Technology Finance & TDB (Tech Data Base)," Mimeo.
  5. Lee, J. H., K. H. Kang, K. B. Binh, S. W. Seo, E. J. Yeo, and S. J. Yoon (2017). Financial Infrastructure Institutions in Korea, Published by Council on International Financial Cooperation.
  6. Liberty, J. M. and M. A. Petersen (2017). "Information: Hard and soft," Unpublished Working Paper, Northwestern University.
  7. Lim, H. J. (2014). "Enhancing Credit Rating of SMEs via Technology Assessment: Policy Proposal," KIF Weekly Financial Brief 14(18), 6-10.
  8. Nam, J. H. (2008). "The Bankruptcy Prediction Model of Technology Innovation Small Medium Enterprises: Principal Component Analysis Approach," The Korean Small Business Review 30(4), (in Korean)
  9. Park, C. G. and H. J. Lim (2014). "Technology-based Information and Credit Provision to Innovative SMEs," Review of Financial Information Studies 3(2), (in Korean)
  10. von Thadden, E. (2004). "Asymmetric information, bank lending and implicit contracts: The winner's curse," Finance Research Letters 1(1), 11-23. https://doi.org/10.1016/S1544-6123(03)00006-0