统一授信模式下物流企业的存货质押融资决策与风险分析

发布时间：2018-06-26 07:57

本文选题：存货质押 + 统一授信　；参考：《天津大学》2014年硕士论文

【摘要】：进入21世纪以来，随着我国经济的迅速发展和物流企业功能的多样化，，各种基于第三方物流企业的供应链金融模式也不断创新，有效解决了我国中小企业融资难问题。存货质押作为供应链金融的一种主要运作模式日渐发展和成熟，其运作模式可以分为仓单质押、委托监管、统一授信、物流银行等。统一授信存货质押融资模式是指银行依据物流企业的资质给予其一定的贷款额度，借款企业使用自身存货出质来向物流企业取得贷款的一种融资模式，由于统一授信模式具有便于操作、节省成本等优点所以得到广泛应用。本文主要研究基于统一授信模式的存货质押融资问题，采用定性分析与定量分析相结合的方法建立物流企业在该模式下的收益模型。探索性的在该模式中引入核心企业供应商对借款企业零售商的回购担保行为，用回购价格和回购率来描述担保程度，并考虑物流企业的监管程度。得出物流企业的期望利润与核心企业的回购率、回购价格、单位物流服务费用、自身的监管程度成正相关，给出物流企业的最优质押率决策，并做算例分析。最后对统一授信模式下物流企业的存货质押融资风险进行分析，引入模糊综合评价法评估其风险并给出风险控制的建议。并结合中储等大型物流公司的存货质押融资业务实际状况进行分析，说明了研究成果在实践中的应用价值。
[Abstract]:Since the beginning of the 21st century, with the rapid development of economy and diversification of the functions of logistics enterprises, various supply chain financial models based on third-party logistics enterprises have been innovated, which has effectively solved the financing difficulties of small and medium-sized enterprises in China. As a main operation mode of supply chain finance, inventory pledge can be divided into warehouse receipt pledge, entrustment supervision, unified credit, logistics bank and so on. The financing mode of unified credit inventory pledge refers to a kind of financing mode in which banks give certain loan quota according to the qualification of logistics enterprises, and loan enterprises use their own inventory pledge to obtain loans from logistics enterprises. The unified credit mode is widely used because of its advantages of easy operation and cost saving. This paper mainly studies the inventory pledge financing problem based on the unified credit model, and establishes the profit model of logistics enterprises under this model by combining qualitative analysis with quantitative analysis. In this model, the author introduces the repurchase guarantee behavior of the core enterprise supplier to the borrowing enterprise retailer, describes the degree of guarantee by using the repo price and the repurchase rate, and considers the supervision degree of the logistics enterprise. It is concluded that the expected profit of the logistics enterprise is positively related to the repurchase rate, the repurchase price, the unit logistics service cost and the supervision degree of the core enterprise. The optimal pledge rate decision of the logistics enterprise is given, and an example is given. Finally, the paper analyzes the risk of inventory pledge financing of logistics enterprises under the unified credit mode, and introduces the fuzzy comprehensive evaluation method to evaluate the risk and give the suggestion of risk control. The application value of the research results in practice is explained by analyzing the actual situation of inventory pledge financing business of large logistics companies such as China Reserve.
【学位授予单位】：天津大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F259.2;F832.4

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