| 摘要: | 綜觀台灣中小企業的成長歷史，其角色不但是產業發展的主要磐石也是重要動力，更在所有創造台灣經濟奇蹟的貢獻者中，占有舉足輕重的地位。然而，多數中小企業的特質為規模小、市場窄、自有資金不足、財報未能表達實際狀況、管理制度不健全及融資資訊不足等，再加上中小企業的生命週期與營運效能容易隨外在環境的變動而大幅波動，以至於弱化了其向金融機構融資取得營運資金的動能。
2008年下半年由美國投資銀行雷曼兄弟控股公司(Lehman Brothers Holdings Inc.)宣告破產事件拉開了席捲全球的金融風暴序幕，並接續引爆世界各國的經濟危機，台灣的中小企業在這波經濟大衰退的襲擊下，亦紛紛受到重創。在全球經濟景氣低迷的籠罩下，台灣的中小企業如何安然度過景氣低潮並保持穩健發展，將是未來在市場中勝出的關鍵，而其中持續獲得金融機構支持並順利取得融資來強化企業經營體質更是不可缺少的條件。
本研究主要探究金融機構在建構中小企業授信信用評等模式時，在一般的財務比率分析之外，對其他各項非財務因素的重視程度有何不同？以及對中小企業授信時納入准駁決策的主要考量因素為何？並希望藉由本研究結論得以降低中小企業與金融機構之間資訊不對稱的現象，使資金的供給與需求均能得到充分滿足，亦能協助政府順利推動促進中小企業產業升級與維持金融穩定的政策，達到三贏策略。經本研究以深度訪談方式，針對個案銀行各級授信人員有關中小企業授信重要評估項目進行研究，結果發現不論在授信品質之控管或不良放款的成因，均與授信評估當時的企業信用5C與銀行授信5Ｐ等基本原則具有息息相關的對應關係。
本研究結論，就個案銀行的各級中小企業授信人員而言，影響其對中小企業授信決策的評估項目並依重要性之優先順序排列後，分別為：品格、借款戶、還款來源、能力、債權保障、資金用途、未來展望、資本、經營環境及擔保品。
至於最影響授信決策的主要評估內容並依重要性之優先順序排列後，本研究所得到結論分別為：企業或企業負責人向其他金融機構貸款是否有逾期或延滯情形、企業負責人是否有使用信用卡循環額度或現金卡預借現金、企業的的財務負擔是否過重而有導致還款來源不穩定之虞、企業的經營能力是否能獲得多數銀行肯定並往來、企業的營授比是否處在合理且適當的區間內、企業的收益來源與資金籌措的去路是否妥當與明確、企業前景及產業趨勢是否能維持營收成長、企業在主要往來銀行的資金水位與營收規模是否相符、企業在所處的產業景氣、展望與競爭下是否能保有優勢、當企業的授信不良時其資產是否具有市場變現性及價值。
;The small and medium-sized enterprises (SMEs) in Taiwan not only serve as the foundation stone and vital forces in course of industry development but also play a decisive role in the Taiwan’s economic miracles. Nonetheless, the motivation of SMEs to acquire working capital from financial institutions has been weaken due to their relatively smaller size, scanty market share, insufficient self-owned capital, financial reports incapable of revealing actual conditions fairly and accurately, weak management, lack of financing information as well as the life cycle and operation efficiency which tends to fluctuate markedly as external circumstances vary.
The collapse of Lehman Brothers Holdings Inc. in the second half of 2008 was followed by a global financial crisis and then led to a string of economic crises worldwide. The middle and small-size enterprises in Taiwan have suffered greatly in the great economic recession as well. Under the widespread gloom of global economy, how SMEs can survive the downturn and sustain the robust development will be the key to future success in the market. In addition, how SMEs can remain bolstered by financial institutions and credit facilities is an indispensable factor to enhancement of corporate management.
In addition to general analyses of financial ratios, the research focuses on how considerations of other non-financial factors and major factors are taken differently in the process of credit approval or rejection when each financial institution formulates its SME credit rating models. The conclusion of this research aims to formulate a three-win strategy to alleviate the imbalance of information between SMEs and financial institutions, to fully satisfy supply and demand of capital, and to assist the government in facilitating industry upgrade of SMEs and sustaining stable financial policies. By means of in-depth interview about the major factors in assessment of SME credit underwriting, the conclusion demonstrates that controls over credit quality or causes of non-performing loans are closely related with and corresponding to the basic assessment principles such as 5C and 5P.
Based on the conclusion of this research, for staff conducting SME credit underwriting, the following factors are ranked in a descending order of priority: Character, People, Payment, Capacity, Protection, Purpose, Perspective, Capital, Condition and Collateral.
Following prioritization of the major assessment factors, the research concludes that what influences credit decision-making most includes whether a corporation or its responsible person has overdue accounts or delayed repayment, whether the responsible person of a corporation uses revolving credits such as credit cards or advance cash such as cash card, whether a corporation is overloaded with financial burden that may incur unstable solvency, whether the management of a corporation can be recognized by the majority of banks and offered credit facilities, whether the revenue-to-loan ratio of a corporation is within a reasonable and appropriate range, whether the sources of a corporation’s revenues and funding are appropriate and specific, whether the outlook of a corporation and industry can assure the growth of its revenues, whether the revenues of a corporation is consistent with its capital flows recorded by its major correspondent banks, whether a corporation can remain competent under circumstances of industry, outlook and market competitions, whether the assets of a corporation are of market realization and value in case of any credit deterioration. |
