基于资金约束供应链的银行贷款价值比研究

发布时间：2018-03-09 21:46

本文选题：供应链金融　切入点：资金约束供应链　出处：《东北大学》2014年硕士论文　论文类型：学位论文

【摘要】：供应链金融是指从核心企业出发,基于供应链中各个部分之间的交易关系和各自的抵押品,通过协调物流,信息流,资金流三者之间的关系,向客户提供融资、保险和结算等相关方面业务的金融创新业务。与传统的融资方式不同的是,供应链金融中的融资会在链条中寻找出一个核心大企业,并从核心企业出发,以核心企业为信用担保,根据供应链中各个部分之间的交易关系和各自的抵押品,为供应链上资金薄弱的环节提供资金支持。随着社会化生产方式和社会生产分工的不断深入,市场已经不再满足于从企业之间的竞争模式,而是将竞争模式转变到供应链之间。处在同一个供应链上的各方从互相竞争变成相互依存,达到一荣俱荣一损俱损的程度。本文首先从一个具有报童模型特征需求的,由不存在资金约束的供应商和存在资金约束零售商组成的二级供应链入手,通过假设参数,建立关于零售商和银行的模型,得出关于零售商还款之后的期望现金流和银行期望利润的表达式,将求解银行贷款的最优价值比问题转化为求解最大化的问题。得到了银行向零售商提供的最优贷款价值比,并通过研究发现,银行向零售商提供的最优贷款价值比与市场中未销售产品处置价值、供应商提供的回购率以及供应商提供给零售商的批发价格等因素都有关系。银行向零售商提供的最优贷款价值比与未销售产品的处置价值成正向关系,与供应商提供的回购率成正向关系,与供应商提供给零售商的批发价格成反向关系。这些因素通过对零售商的成本和未销售产品价值产生影响,从而影响了银行信贷风险的评估结果,从而影响了银行向零售商提供的最优贷款价值比的决策。同时,根据以上各个因素与银行向零售商提供的最优贷款价值比之间或正或负的关系,本文确定了银行最优贷款价值比的取值区间。
[Abstract]:Supply chain finance is to provide financing to customers by coordinating the relationship among logistics, information flow and capital flow, based on the transaction relationship between each part of the supply chain and their respective collateral, starting from the core enterprises, and based on the transaction relationship between the various parts of the supply chain and their respective collateral. Different from traditional financing, financing in supply chain finance will find a core large enterprise in the chain, and start from the core enterprise. Taking the core enterprise as the credit guarantee, according to the transaction relationship between the various parts of the supply chain and their respective collateral, to provide financial support for the weak link of the supply chain. With the deepening of the socialized production mode and the division of production in the society, The market is no longer satisfied with competition from enterprise to enterprise, but from competition to supply chain. The parties in the same supply chain change from competition to interdependence. First of all, this paper starts with a two-level supply chain with the characteristic demand of newsboy model, which consists of a supplier without financial constraints and a retailer with financial constraints, and assumes the parameters. A model of retailers and banks is established to obtain expressions for the expected cash flow after the retailer repayments and the expected profits of the bank. In this paper, the problem of solving the optimal value ratio of bank loans is transformed into the problem of solving the optimal value ratio of bank loans, and the optimal value ratio of loans provided by banks to retailers is obtained. The optimal loan value ratio provided by banks to retailers is equal to the disposal value of unsold products in the market, The repo rate provided by the supplier and the wholesale price provided by the supplier to the retailer are all related. The optimal loan value ratio provided by the bank to the retailer has a positive relationship with the disposal value of the unsold product. There is a positive relationship with the repo rate provided by the supplier and a reverse relationship with the wholesale price that the supplier provides to the retailer. These factors affect the retailer's cost and the value of the unsold product. This affects the assessment results of bank credit risk, thus affecting the decision of the optimal loan value ratio that the bank provides to the retailer. At the same time, According to the positive or negative relationship between the above factors and the optimal loan value ratio provided by the bank to the retailer, this paper determines the value range of the bank's optimal loan value ratio.
【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】：F832.4

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