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Indexed by:会议论文

Date of Publication:2008-01-01

Included Journals:CPCI-SSH

Page Number:256-261

Key Words:credit risk; game theory; harmonious; moral hazard

Abstract:In this paper, we describe a harmonious and mutual-beneficial credit concept in the system of finance. We assume that enterprise takes both equity and debt as its financing ways. Based on models of the game theory, we discuss the relationship between the proportion of enterprise's holding shares and the degree of its absolute risk-aversion. Then we analyze the relationship between the bank's investment utility and degree of enterprise's moral hazard. Finally, the realizing path is presented considering the positive effect of harmonious and mutual-beneficial credit decision-making for whole system.