供应链中的保兑仓融资决策研究

发布时间：2018-06-06 03:56

本文选题：供应链融资 + 中小企业　；参考：《中南大学》2012年硕士论文

【摘要】：供应链融资是由金融机构与核心企业达成的、面向供应链中小企业成员的系统性融资方式,是一种能从根本上缓解核心企业流动资金约束,改善供应链上中小供应商和经销商现金流情况,切实提高供应链整体稳定性和运行效率的创新型融资服务。论文通过变革既有融资方式和结构,分析保兑仓融资产品的风险和信用问题,设计中小企业融资服务模式和决策方法,以期挖掘新的中小企业融资渠道,并为供应链整体融资决策提供参考。论文主要做了以下工作： (1)全面分析供应链融资对银行和对中小企业的市场价值,积极探索自偿性融资中保兑仓融资模式的适用背景和优势,描述了厂、商、银三方保兑仓和有第三方物流企业参与的四方保兑仓两种不同模式。 (2)分析保兑仓业务融资风险的来源,探讨了保兑仓业务的风险识别、度量和分担问题,建立了面向银行的保兑仓融资主体信用评估指标体系,构建保兑仓业务信用评估模型,设计相应算法以合理确定保兑仓业务融资主体的信用等级。 (3)定量分析三方保兑仓融资业务中经销商订货量、制造商定价和金融机构利率之间的关系,建立由一个核心企业(供应商或制造商)、两个融资企业(经销商)和金融机构构成的供应链单周期模型。通过对需求波动风险和制造商违约风险的分析,讨论制造商和经销商的订货定价决策和金融机构的利率决策,并比较金融机构在有选择性的提供融资服务时,供应链的整体效益的差异。 (4)通过实例比较金融机构不提供保兑仓服务、只对一个经销商提供保兑仓融资和对两个经销商共同提供保兑仓融资服务时的供应链整体效益,得出当金融机构向两个经销商同时提供保兑仓融资服务时,供应链整体效益最大的结论。
[Abstract]:Supply chain financing is achieved by financial institutions and core enterprises. It is a systematic financing method for the members of small and medium-sized enterprises in the supply chain, which can fundamentally alleviate the liquidity constraints of core enterprises. Improving the cash flow of small and medium-sized suppliers and dealers in the supply chain, and improving the overall stability and operational efficiency of the supply chain of innovative financing services. By changing the existing financing methods and structures, this paper analyzes the risk and credit problems of confirmed warehouse financing products, and designs the financing service model and decision-making method for SMEs, with a view to excavating new financing channels for SMEs. And provides the reference for the supply chain overall financing decision. The main work of this paper is as follows: 1) comprehensively analyzing the market value of supply chain financing to banks and small and medium-sized enterprises, actively exploring the applicable background and advantages of the confirmed warehouse financing model in self-compensated financing, and describing the factories and merchants. There are two different modes of silver three-party confirming warehouse and four-party confirming warehouse with third party logistics enterprises. 2) analyzing the source of financing risk of confirmed warehouse business, discussing the problem of risk identification, measurement and sharing of confirmed warehouse business, establishing the credit evaluation index system of confirming warehouse financing subject for bank, and constructing credit evaluation model of confirmed warehouse business. The corresponding algorithm is designed to reasonably determine the credit rating of the confirming warehouse financing agent. Quantitative analysis of the relationship between dealer order volume, manufacturer's pricing and interest rate of financial institutions in the financing business of three-party confirmed positions, A supply chain single cycle model consisting of a core enterprise (supplier or manufacturer), two financing enterprises (distributors) and financial institutions is established. Based on the analysis of demand volatility risk and manufacturer default risk, this paper discusses the order pricing decisions of manufacturers and dealers and the interest rate decisions of financial institutions, and compares the financial institutions when providing selective financing services. Differences in the overall benefits of the supply chain. (4) to compare the overall benefits of supply chain when financial institutions do not provide confirmation services to only one dealer and two distributors jointly provide confirmed warehouse financing services through an example. It is concluded that when financial institutions provide confirmed financing services to two dealers at the same time, the overall benefit of the supply chain is the greatest.
【学位授予单位】：中南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F274;F832.4

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