CAJ | 학술논문

标会模式是民间基于信任建立起来的非正规金融组织，融合了储蓄和融资两种功能，具有一定优势，可作为我国民间金融发展的探索。本文研究结果表明，标会具有独特的运作模式和现金流模型。本文从动态和静态角度估算和分析了标会融资成本，进一步对其内在风险和管控进行研究；在此基础上，本文对标会模式进行改进和设计，对标会的管理提出建议。
표회모식시민간기우신임건립기래적비정규금융조직，융합료저축화융자량충공능，구유일정우세，가작위아국민간금융발전적탐색。본문연구결과표명，표회구유독특적운작모식화현금류모형。본문종동태화정태각도고산화분석료표회융자성본，진일보대기내재풍험화관공진행연구；재차기출상，본문대표회모식진행개진화설계，대표회적관리제출건의。
As an informal financial institution based on trust, ROSCA which contains both savings and financing function. The organization with these features should have obvious advantages to be an instrument to explore the development mode of civil finance. This paper states the operation mode of ROSCA, analyzes its cash flows and estimate the financing cost;then, it goes further to study the inherent risks of ROSCA and risk control;finally, the paper designs an improved ROSCA model and puts forward policy suggestions.