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1、AbstractAbstractDevelopingguaranteeandre-guaranteebusinessesisanimportantwaytosolvetheproblemofhardfinancingofSMEs(SmallandMediumEnterprises)andhelpthem.Aftermorethantwentyyears’explorationanddevelopment,financingmodemainlyfocusingonguaranteeagencyandservingSMEshavebeguntoshapeinourcountry.Howe
2、ver,whilemakinggreatcontributionstooureconomicdevelopment,guaranteebusinesshasdefects,suchaslowmagnification,limitedguaranteecapacity,etc.Inordertosolvetheaboveproblemsanddevelopguaranteesystem,re-guaranteebusinessemerged.Since2008,provincesinourcountrybegantoestablishre-guaranteeagencytoformar
3、e-guaranteesystemmainlyonprovinciallevel.FujianSMEsRe-guaranteeCompanyisestablishedundersuchconditions.Astheonlyonere-guaranteeagencyinFujian,FujianSMEsRe-guaranteeCompanyhasformedanuniquemodeofre-guaranteemodeafterfiveyears’developmentandpractice.However,themodestillhasdefectssuchasunbalancedr
4、iskandreturnandunreasonablesettingofre-guaranteeratesinrisksharing.Inviewoftherealitiesabove,thispapertakesFujianSMEsRe-guaranteeCompanyasexampletodoresearchontheobviousproblemsinrisksharingbusiness.Studiesonrisksharingmodesathomeandabroadwiththeapplicationofempiricalapproacheswhichwillprovider
5、eferencetorisksharingmechanismofre-guaranteeagencyinFujian.Itmakesapriceontheparticularproportionalhazardre-guaranteewiththeapplicationofMonteCarloSimulationoftheOptionPricingTheoryandevaluatesontheaccesscriterionoftheguaranteeagencyandguaranteedenterpriseswiththeapplicationofAnalyticHierarchyP
6、rocess.Themainconclusionsshowasfollows:First,there-guaranteebusinessratesofFujianRe-guaranteeCompanyareunderpaidseriouslyandreasonableratesshouldbemadeunderquantitativeanalyses.Second,internally,re-guaranteeagencyoughttomanagetheriskofre-guaranteebusinessthroughcompletingtheaccessmechanismofre-
7、guaranteetomakesurethere-guaranteeagencyoperatesproperly.Third,inordertoimprovere-guarantee,actionsshouldbedoneincludingcarryoutbankrisksharing,perfectthelegalsystemandestablishencouragemechanismorfinancialmechanism,etc.Keywords:R