供应链应收账款质押融资模式下中小企业信用风险评估

发布时间：2018-06-29 12:35

本文选题：供应链金融 + 应收账款质押融资　；参考：《东北大学》2014年硕士论文

【摘要】：供应链金融业务是商业银行专门针对供应链中的中小企业提供的一项全新的融资模式。该融资模式不仅有效的解决了中小企业资金短缺的问题,而且为商业银行拓宽了中小企业客户群,提升了获利空间,与此同时,也促进了第三方物流企业的发展。虽然供应链金融提高了商业银行的盈利水平,但是此融资业务也使商业银行面临了更加复杂的风险,其中银行面临的最主要风险就是信用风险,信用风险一旦发生,银行就会蒙受经济损失,更甚者将会破产倒闭。因此,有必要对我国商业银行的供应链金融信用风险进行系统性的研究。以供应链金融下应收账款质押融资模式为例,站在商业银行的角度来对中小企业的信用风险进行度量与评估。首先,根据应收账款质押融资模式的流程分析出影响信用风险的因素,进而结合该融资模式的特点以及原有文献的研究,确定了信用风险指标体系的五个维度,即核心企业状况、中小企业状况、应收账款状况、外部环境状况和供应链整体状况；其次,通过对Logistic回归模型和KMV模型的优缺点进行分析后发现,两模型的优点可以互相弥补对方模型不足,因此,构建了KMV-Logistic模型,以期得到一个评估效果优于当前应用范围最广的Logistic模型的信用风险评估模型；最后,运用Logistic回归模型和KMV-Logistic模型分别对100家上市中小企业进行了实证分析,并且通过实证结果对比得出了KMV-Logistic模型的评估准确率更高的结论。在对供应链金融下信用风险进行研究时,理论联系实际,使定性研究与定量研究相结合,综合运用文献资料法、规范研究和实证研究等研究方法,以期取得客观、有效的评估结果。
[Abstract]:Supply chain financial business is a new financing mode that commercial banks provide especially for small and medium enterprises in the supply chain. This financing model not only effectively solves the problem of small and medium-sized enterprises' shortage of funds, but also broadens the customer base of small and medium-sized enterprises for commercial banks, and promotes the development of third party logistics enterprises at the same time. Although supply chain finance has improved the profitability of commercial banks, this financing business also makes commercial banks face more complex risks, among which the most important risk faced by banks is credit risk, once credit risk occurs, Banks will suffer financial losses, and worse, they will go bankrupt. Therefore, it is necessary to systematically study the supply chain credit risk of Chinese commercial banks. Taking the financing model of accounts receivable pledge under the supply chain finance as an example, this paper measures and evaluates the credit risk of small and medium-sized enterprises from the perspective of commercial banks. First of all, according to the process of accounts receivable pledge financing mode, the factors influencing credit risk are analyzed, and then the five dimensions of credit risk index system are determined according to the characteristics of the financing model and the study of the original literature. That is, the status of core enterprises, small and medium-sized enterprises, accounts receivable, external environment and supply chain as a whole. Secondly, through the analysis of the advantages and disadvantages of Logistic regression model and KMV model, we find that, The advantages of the two models can make up for each other's lack of models. Therefore, a KMV-Logistic model is constructed in order to obtain a credit risk assessment model which is superior to the most widely used Logistic model. By using logistic regression model and KMV-Logistic model, the empirical analysis of 100 listed SMEs is carried out, and the conclusion that the accuracy of KMV-Logistic model is higher than that of KMV-Logistic model is obtained by comparing the empirical results. In the study of credit risk under supply chain finance, combining theory with practice, combining qualitative research with quantitative research, comprehensive use of literature, normative and empirical research methods, in order to achieve objective, Effective evaluation results.
【学位授予单位】：东北大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F276.3;F274

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