Open AccessFINANCING RISK MANAGEMENT AND CONTROL FOR HIGH-TECHNOLOGICAL SMALL AND MEDIUM ENTERPRISES — UNDER NONLINEAR DIFFERENTIAL EQUATION
Author(s) -
Ximei Li,
Jing Chen,
Hadi Oqaibi,
Xiangmei Fan
Publication year - 2022
Publication title -
fractals
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.654
H-Index - 44
eISSN - 1793-6543
pISSN - 0218-348X
DOI - 10.1142/s0218348x22400667
Subject(s) - finance , analytic hierarchy process , risk financing , business , control (management) , risk control , nonlinear system , risk management , differential (mechanical device) , actuarial science , economics , operations research , mathematics , financial risk management , engineering , physics , management , quantum mechanics , aerospace engineering
In this paper, a financing decision-making method is proposed based on the nonlinear differential equations (NDEs) to promote the healthy development of high-technological (high-tech) small and medium enterprises (SMEs). An assessment index system for financing risks is established, and the financing decision-making method is proposed based on the backward stochastic differential equation (BSDE). Then, the financing risk is evaluated with analytic hierarchy process (AHP) combined with fuzzy evaluation based on the financing status of Peilin Company. Finally, the corresponding financing decision is proposed based on the BSDE. It is found that the comprehensive score of financing risk of Peilin Company is 63.6124, indicating that the risk is high. The financing decision obtained shows that the current equity fund financing should be 396.24[Formula: see text]million to achieve the future goal. It is proved that the proposed financing risk evaluation method can assess the financing risks accurately, and the financing decision-making method based on NDE can obtain more appropriate financing decisions through calculation. This study can provide a crucial reference for management and control of financing risk for enterprises.