基于中小企业融资视角的供应链金融研究

发布时间：2017-12-30 22:45

本文关键词：基于中小企业融资视角的供应链金融研究　出处：《西南财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：中小企业在国民经济中扮演了重要角色,但融资难问题始终没有得到有效解决,严重的制约了其发展。在此背景下供应链金融应运而生。它是商业银行针对供应链中处于弱势地位的中小企业设计的新型融资模式。通过金融资本与实体经济的协作,供应链金融将资金流有效的整合到供应链管理中来,更加关注供应链中物流、信息流与资金流的集成,围绕供应链上的核心企业对中小企业提供金融支持。中小企业通过供应链金融融资模式融资可有效弱化银行和企业之间的信息不对称,解决其由于信用不足、缺乏可抵押不动产从而难以获得银行信贷的难题。商业银行开展供应链金融业务有助于提高自身的竞争力,创造新的利润增长点,而第三方物流企业则可将仓储物流服务延伸至整个供应链,极大的拓展了业务空间。通过开展供应链金融业务,各参与主体最终实现了多方共赢。因此,很有必要对供应链金融的相关理论作系统性的研究,旨在揭示供应链金融融资模式在改善我国中小企业融资困境方面的独特优势。本文主要分为四个部分。第一部分首先阐述了供应链金融的研究背景和意义,系统回顾了国内外学者关于供应链金融的理论研究成果,从这些研究成果可以看出,国内外学者基本上就供应链金融可以有效缓解中小企业融资困境问题达成了共识,并从不同的视角对供应链金融的内涵、特点、运作模式以及风险控制等方面的内容展开研究,提出了颇多具有建设性的观点和理论。在国内外学者的研究基础之上,本文结合作者在供应链金融发展方面的长期积累和深入研究,提出了供应链金融的定义和特点,阐述了供应链金融融资模式的基本类型及其运作机制,并分别对三种典型供应链融资模式即应收账款融资模式、融通仓融资模式以及保兑仓融资模式的实现机制和具体操作流程展开研究,从中可以看出供应链金融融资模式通过在各参与主体之间建立多重的委托代理关系,构建起特别适合在供应链上处于弱势地位的中小企业的独特融资机制,很好的解决了中小企业由于信用水平低、缺乏可抵押不动产、抵御风险能力弱等缺点而导致的银行惜贷问题。通过对三种典型融资模式在融资企业在供应链上的位置、融资企业所处的生产经营周期、质押物、融资用途等方面的对比,归纳出适合具有不同特点的中小企业的融资方式。最后介绍了几种供应链金融的衍生融资模式,并指出虽然供应链金融的融资方式多种多样,但他们都反映了供应链金融的基本思想：依托供应链整体,风险分担,信用共享,降低交易成本,弱化信息不对称,实现各参与主体的互利共赢。第二部分主要阐述和分析了供应链金融在缓解中小企业融资困境方面的有效性。通过对供应链金融融资模式和传统融资模式在融资对象、融资方式、担保机制、银企关系等方面进行比较,可以反映出供应链金融融资模式在缓解中小企业融资困难方面所具有的诸多优势,并通过构建供应链金融参与主体的合作博弈模型加以论证,从而更加直观的反映出供应链金融在解决中小企业融资困难问题上的先天优势。最后总结出供应链金融在解决中小企业融资困难方面所具有的独特优势,揭示出供应链金融在弱化银企之间信息不对称、盘活中小企业生产经营过程中闲置的流动资产以及降低商业银行授信风险和经营成本等方面的有效性。第三部分主要阐述了商业银行在开展供应链金融业务过程中可能面临的风险,深入研究了四种主要风险类型即信用风险、操作风险、市场风险以及法律风险在供应链金融融资模式下的特点,结合供应链金融融资模式的具体运作流程,从商业银行开展供应链金融业务的风控关键环节即授信审查、贷款审批、出账和贷后管理的角度入手,分别对容易发生以上风险的环节提出风险控制的一般原则和具体措施,指出在供应链金融融资模式下商业银行可以通过风险转移和分散、控制业务过程以及损失控制等原则有效的防范和降低风险,要审慎的选择供应链金融的参与主体特别是对第三方物流企业和核心企业的选择,严格按照科学的标准拣选质押物,并建立动态风险控制体系和贷后预警机制,最终实现最大程度控制和防范风险的目的。第四部分着重讨论了供应链金融在我国发展过程中存在的问题,并就如何促进供应链金融的发展提出对策建议。提出供应链金融虽然在我国发展迅速,各大商业银行在开展供应链金融业务上都取得了不错的业绩,但是由于我国企业供应链管理意识薄弱,上下游企业关系松散而缺乏相互协作的意愿,同时国内商业银行针对供应链金融业务的风控体系尚不完善,缺乏有效的信用风险评价体系和专业化的业务操作平台,管理上也存在着诸多空白点,再加上我国供应链金融业务的电子化程度较低,缺少相关专门针对供应链金融业务的法律体系,这些都严重的制约了供应链金融的发展,限制了供应链金融在解困中小企业融资困境方面作用的有效发挥。针对这些问题本文提出了四点措施,第一要建立长效稳固的供应链上下游协作机制,提升供应链整体的竞争力。第二要加强供应链金融风险管理力度,建立完善的贷前授信审查体系和贷后动态风险监控及预警机制。第三商业银行要顺应互联网金融浪潮,积极开展线上供应链金融业务。最后要完善相关法律法规,强化金融监管,维护供应链金融的良性发展。
[Abstract]:Small and medium-sized enterprises play an important role in the national economy, but the financing problem has not been effectively resolved, seriously restrict its development. Supply chain finance emerges under this background. It is a new financing model for the design of commercial banks in a weak position in the supply chain of small and medium-sized enterprises. Through the cooperation of financial capital and the real economy. Supply chain finance, capital flow will be effectively integrated into the supply chain management, pay more attention to the logistics supply chain integration, information flow and capital flow, around the core enterprises in the supply chain to provide financial support to small and medium-sized enterprises. The small and medium-sized enterprise financing through the financial supply chain financing model can effectively weaken the information asymmetry between banks and enterprises the solution because of its lack of credit, lack of real estate mortgage problem which is difficult to obtain bank credit. Commercial banks carry out the supply chain finance business Help to improve their own competitiveness, create new profit growth point, and the third party logistics enterprises can be extended warehousing logistics services to the entire supply chain, greatly expanding the business space. Through the development of supply chain finance business, all the participants in the final to achieve a win-win situation. Therefore, it is necessary to study the system of theory of supply chain finance, supply chain financing model to reveal the advantages in improving the financing difficulties of SMEs in China.
This paper is divided into four parts. The first part describes the supply chain finance background and significance of the research, a systematic review of research results of domestic and foreign scholars on the theory of supply chain finance, the results from these studies can be seen, the scholars at home and abroad basically is the supply chain finance can effectively alleviate the financing difficulties of small and medium enterprises reached a consensus and, the connotation of supply chain finance from different perspectives, research on operation mode and risk control of the content, put forward many constructive ideas and theories at home and abroad. Based on the research, combined with the author's long-term accumulation in the development of supply chain finance and research put forward the definition and characteristics of supply chain finance, expounds the basic types and operation mechanism of supply chain financing model, and the three kinds of typical supply chain financing Model that accounts receivable financing mode, implementation mechanism and the specific operation process of financing warehouse financing mode, confirming warehouse financing mode research, can be seen from the supply chain financing model through theparticipators establish principal-agent relationship multiple, construct is especially suitable for the unique financing mechanism in a weak position in the supply chain small and medium-sized enterprises, a good solution to the small and medium-sized enterprises due to the low level of credit, lack of real estate mortgage, bank credit crunch caused the weak ability to resist risks. The disadvantages of three typical mode of financing in the financing enterprise in the supply chain financing position, the enterprise's production and operation cycle, the pledge contrast, financing and other aspects of the use, summarized the different characteristics of the financing of small and medium enterprises. Finally introduced several derivative financing model of supply chain finance, and It points out that although the financing ways of supply chain finance are various, they all reflect the basic idea of Supply Chain Finance: relying on the whole supply chain, risk sharing, credit sharing, reducing transaction costs, weakening information asymmetry, and achieving mutual benefit and win-win for all participants.
The second part mainly elaborates and analyzes the supply chain finance is effective in alleviating the financing difficulties of small and medium-sized enterprises. Based on the supply chain financing mode and the traditional mode of financing in financing, financing, guarantee mechanism, compare the relationship between banks and enterprises and other aspects, reflecting the advantages of supply chain financing mode has in terms of ease the financing difficulties of small and medium-sized enterprises, which are proved by constructing a cooperative game model of supply chain finance participants, and thus more directly reflects the supply chain finance in solving the financing difficulties of small and medium enterprises advantage. Finally summarizes the unique advantages of the financial chain has to solve the financing difficulties of small and medium-sized enterprises in terms of supply, supply revealed the financial chain in the weakening of the information asymmetry between banks and enterprises, idle revitalize SMEs in the production process of liquid assets and low The validity of credit risk and operating cost in commercial banks.
The third part mainly expounds the risk of commercial banks may face in the process of carrying out supply chain finance business, operational risk in-depth study of the four major types of risks: credit risk, market risk, characteristics and legal risk in the supply chain financing mode, combined with the specific operation process of supply chain financing model, from the commercial bank carry out the supply chain finance business risk control is the key link of credit review, loan approval, account and loan management perspective, respectively put forward the general principles and concrete measures of risk control on the above risk prone links, pointed out that in the supply chain financing mode of commercial banks through risk transfer and disperse control business the process and principle of loss control to prevent and reduce the risk, to participate in the subject of careful selection of supply chain finance especially for the third party logistics The choice of flow enterprises and core enterprises is to select pledge according to scientific standards strictly, and establish dynamic risk control system and early warning mechanism after loan, so as to achieve maximum control and risk prevention.
The fourth part focuses on the supply chain finance exists in the process of development in China, and puts forward some countermeasures and suggestions on how to promote the development of supply chain finance. The financial supply chain while in the rapid development of China's major commercial banks have got great achievement in the development of supply chain finance business, but because I supply our enterprise chain management consciousness is weak, the relationship between the upstream and downstream enterprises loose and lack of mutual collaboration will, at the same time, the domestic commercial banks for the supply chain finance business risk control system is not perfect, the lack of platform of credit risk evaluation system and effective professional management, there are many gaps, the degree of electron coupled with the supply chain finance business in China is relatively low, the lack of specific legal system of supply chain finance business, these are serious constraints on the development of Supply Chain Finance Limited Effective system of supply chain financing for small and medium sized financial role in the enterprise. Aiming at these problems, this paper presents four measures, the first to establish a long-term and stable cooperation mechanism of downstream supply chain, enhance the competitiveness of the whole supply chain. The second is to strengthen the supply chain financial risk management, establish and improve the pre loan credit after the loan review system and dynamic risk monitoring and early warning mechanisms. Third commercial banks should comply with the wave of Internet banking, and actively carry out online supply chain finance business. Finally, to improve the relevant laws and regulations, strengthen financial supervision, maintain the benign development of supply chain finance.

【学位授予单位】：西南财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F275;F276.3;F832.4

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