Entrepreneurship

The topic of this special issue is the analysis of theory related to entrepreneurship. Each theory is a lens that allows us to interpret one or other mode of entrepreneurship, to identify a particular set of problems and to seek a variety of solutions to those problems. The special issue is a collection of seven papers.

Business credit is currently the main way to solve the financing constraints of small and medium-sized enterprise. Therefore it is worth studying how to reduce the credit risk of enterprise or to strengthen the risk management ability of enterprise. However, according to the theory of information economics, there exists heavy information asymmetry between banks and enterprise, especially small and medium-sized enterprise, resulting the adverse selection and moral hazard in financing process, which makes the credit risk more difficult to be rated. In this sense, Xu, Yang, and Sun provide literature about index system of micro enterprise credit evaluation and discusses the variables related to enterprise credit. The paper innovatively introduces non parametric method into decision tree based on the preliminary research of logistic regression model and generalized addictive models, too. More specifically, the previous linear and polynomial parts are replaced by non parametric components, and both tree and non parametric relationship among variables are incorporated in order to evaluate enterprise credit more accurately and identify the credit enterprise. Finally, the paper performs a robust test and provides the results are stable. The comprehensive analysis of enterprise credit identification puts forward the suggestion on credit evaluation with the focus of avoiding losses, fostering excellent enterprise, and realizing the optimal allocation of resources.