供应链金融应收账款融资模式及信用风险评价

发布时间：2018-03-22 13:48

本文选题：供应链金融　切入点：应收账款融资　出处：《江南大学》2013年硕士论文　论文类型：学位论文

【摘要】：经过几十年的研究和发展，供应链管理在物流和信息流方面都取得了很大的成绩，在一定程度上提高了运营效率，降低了运营成本，而资金流成为进一步提高供应链运营效率的瓶颈因素。供应链上的核心企业利用优势地位提高上游供应商中小企业的应收账款账期。这样使得供应链上中小企业的应收账款量增多，，账期增长，影响中小企业的资金利用率。而中小企业由于自身条件限制，应收账款融资利用率很低，甚至无法用应收账款进行融资。银行从供应链的角度，以供应链整体的信用水平和真实的交易背景为依托，对处于上游供应商地位的中小企业展开应收账款融资服务。作为一种新型的金融服务产品，供应链金融应收账款融资要想获得参与方的认可，必须具有自己的优势，同时，其实施过程中伴随的风险也不容忽视。基于此，本文主要研究了供应链金融应收账款融资模式及其信用风险评价。第一部分介绍了开展供应链金融应收账款融资业务的背景及其理论研究现状，说明了我国开展此项业务的现实需求。第二部分介绍了供应链金融的融资模式，并重点介绍供应链金融应收账款融资模式，可拓层次分析法的基本理论知识，奠定了本文的理论基础。第三部分运用博弈论的方法对供应链金融应收账款融资和传统应收账款融资两种模式下的参与方的行动进行分析。通过比较得出，在供应链金融应收账款融资模式中，由于核心企业的参与，变为三方博弈，同时供应链的引入增加了企业违约的成本，从而改变了传统模式下了两方博弈的均衡。定性的揭示了供应链金融应收账款融资的优势。第四部分构建供应链金融应收账款融资信用风险评价的指标体系，利用可拓层次分析法对供应链金融应收账款融资模式进行信用风险评价。与传统融资模式相比，供应链金融应收账款融资模式中的风险来源增加了供应链运营状况和核心企业资质两个要素，并增加了对融资模式的闭环的考查。然后通过具体的案例进行计算，对两种模式下的信用风险进行计算评级，结果表明供应链金融应收账款融资模式能够提高融资项目的信用风险等级。文章通过博弈论分析和信用风险评价，定性和定量的证明了供应链金融应收账款融资具有很大的融资优势，给各参与方提供理论上的借鉴。同时，在信用风险评价方面，设计符合供应链金融应收账款融资模式的信用风险评价指标体系，为银行开展信用风险评价提供理论上的借鉴。
[Abstract]:After decades of research and development, supply chain management has made great achievements in logistics and information flow, to a certain extent, improve the operational efficiency and reduce the operating costs. The capital flow becomes the bottleneck factor to further improve the efficiency of supply chain operation. The core enterprises in the supply chain take advantage of their position to improve the accounts receivable period of SMEs in upstream suppliers. Increase in the amount of accounts receivable, The increase of account period affects the fund utilization ratio of small and medium-sized enterprises. However, due to the limitation of their own conditions, the utilization rate of accounts receivable financing is very low, even can not be used to finance accounts receivable. Banks from the point of view of supply chain, Based on the credit level of the whole supply chain and the real transaction background, the accounts receivable financing service is provided to the SMEs in the upstream supplier position. As a new type of financial service product, the financing of accounts receivable in supply chain must have its own advantages if it wants to be recognized by the participants, at the same time, the risks associated with its implementation should not be ignored. This paper mainly studies the financing mode of supply chain financial accounts receivable and its credit risk evaluation. The first part introduces the background and theoretical research status of developing supply chain financial accounts receivable financing business. The second part introduces the financing mode of supply chain finance, and focuses on the financing mode of accounts receivable of supply chain finance, the basic theoretical knowledge of extension hierarchy process. The third part uses the game theory method to analyze the actions of the participants under the two models of supply chain financial accounts receivable financing and traditional accounts receivable financing. In the financing model of supply chain financial accounts receivable, the participation of core enterprises becomes a tripartite game, and the introduction of supply chain increases the cost of enterprise default. Thus changing the traditional mode of two-party game equilibrium, qualitatively reveals the advantages of supply chain financial accounts receivable financing. The fourth part constructs the credit risk evaluation index system of supply chain financial accounts receivable financing. The credit risk evaluation of the supply chain finance accounts receivable financing mode is carried out by using the extension Analytic hierarchy process, which is compared with the traditional financing model. The risk sources in the financing model of supply chain financial receivable increase the supply chain operation status and core enterprise qualification, and increase the closed-loop examination of the financing model. The results show that the supply chain financial accounts receivable financing model can improve the credit risk rating of the financing project. This paper analyzes and evaluates the credit risk by game theory. It proves qualitatively and quantitatively that the financing of accounts receivable of supply chain finance has a great advantage of financing, and provides theoretical reference to all participants. At the same time, in the aspect of credit risk evaluation, This paper designs a credit risk evaluation index system which accords with the financing mode of supply chain finance accounts receivable, and provides a theoretical reference for banks to carry out credit risk evaluation.
【学位授予单位】：江南大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832

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