本文關(guān)鍵詞： 供應(yīng)鏈金融 資金約束供應(yīng)鏈 風(fēng)險(xiǎn)管理 貸款價(jià)值比 貸款決策　出處：《東北大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

【摘要】：供應(yīng)鏈金融是一種物流、資金流和信息流的整合創(chuàng)新,其在為供應(yīng)鏈中物資的流通提供有效資金支持的同時(shí),實(shí)現(xiàn)銀行、物流企業(yè)、融資企業(yè)乃至供應(yīng)鏈的多方共贏。供應(yīng)鏈金融有效改善了我國中小企業(yè)融資難、商業(yè)銀行“惜貸”的矛盾現(xiàn)狀,為加快我國在“十二五”期間的經(jīng)濟(jì)發(fā)展方式轉(zhuǎn)型注入了活力源泉。在我國,供應(yīng)鏈金融的實(shí)踐發(fā)展十分迅速,但作為一種全新的融資模式,它在實(shí)踐中也遇到了許多問題,缺少系統(tǒng)的理論基礎(chǔ)。 已有資金約束供應(yīng)鏈融資決策問題的研究大都從供應(yīng)鏈融資企業(yè)角度分析,本文站在商業(yè)銀行等貸款人的新的視角,以一個(gè)具有資金約束的、由單一制造商和單一零售商構(gòu)成的二級供應(yīng)鏈系統(tǒng)為研究對象,產(chǎn)品需求市場為典型的報(bào)童模型,針對商業(yè)銀行等金融機(jī)構(gòu)對供應(yīng)鏈上下游企業(yè)提供融資服務(wù)的問題,構(gòu)建了商業(yè)銀行的融資決策模型并進(jìn)行了優(yōu)化,最后給出仿真模擬驗(yàn)證了模型的有效性。主要研究內(nèi)容和結(jié)果如下： (1)本文把貸款人的決策問題分成兩種方式,當(dāng)貸款銀行向處于同一供應(yīng)鏈上下游的兩家企業(yè)提供貸款數(shù)額時(shí),一個(gè)選擇是為制造商和零售商分別做出獨(dú)立決策,另一個(gè)是參與整條供應(yīng)鏈的生產(chǎn)運(yùn)營為制造商和零售商的融資做出聯(lián)合決策。研究表明如果零售商或制造商的初始資金頭寸非常小,聯(lián)合決策是有利于貸款人以及制造商和零售商雙方的借貸模式。這在商業(yè)銀行對資金約束供應(yīng)鏈融資服務(wù)實(shí)際操作中具有重要的指導(dǎo)意義。 (2)在銀行選擇聯(lián)合決策模型的基礎(chǔ)上,進(jìn)一步將下側(cè)風(fēng)險(xiǎn)控制指標(biāo)貸款價(jià)值比模型引入到供應(yīng)鏈金融的銀行決策中,研究銀行的融資決策與抵押貸款價(jià)值比的關(guān)系。分析可看出,供應(yīng)鏈中制造企業(yè)設(shè)定的批發(fā)價(jià)格、回購率以及剩余產(chǎn)品在市場中的處置價(jià)值等因素都會影響銀行的貸款價(jià)值比。銀行積極參與到供應(yīng)鏈整體運(yùn)營中能夠增加其貸款收益。分析所得結(jié)論進(jìn)一步拓展了銀行抵押貸款中關(guān)于貸款價(jià)值比的研究,對現(xiàn)實(shí)中供應(yīng)鏈的信貸融資實(shí)務(wù)具有重要的參考價(jià)值。 本文對供應(yīng)鏈金融從全新角度進(jìn)行分析,同時(shí)結(jié)合定量模型研究各種模式下的融資運(yùn)作決策,豐富供應(yīng)鏈金融研究內(nèi)容的同時(shí),為供應(yīng)鏈條上存在資金缺口的借款企業(yè)提供了融資決策的依據(jù)。
[Abstract]:Supply chain finance is a kind of integration innovation of logistics, capital flow and information flow, which provides effective capital support for the circulation of goods and materials in the supply chain, and realizes banks and logistics enterprises at the same time. Financing enterprises and even the supply chain of multi-win-win. Supply chain finance effectively improve the financing difficulties of small and medium-sized enterprises in China, commercial banks "reluctant to lend" the contradiction of the status quo. In order to speed up the transformation of economic development mode during the "12th Five-Year Plan" period, the source of vitality has been injected. In China, the practice of supply chain finance has developed very rapidly, but as a new financing mode. It also meets many problems in practice and lacks the theoretical foundation of the system. Most of the research on the financing decision of supply chain constraints has been made from the perspective of supply chain financing enterprises. This paper is based on the new perspective of lenders such as commercial banks to have a financial constraint. A two-stage supply chain system composed of a single manufacturer and a single retailer is studied. The product demand market is a typical newsboy model. Aiming at the problem that commercial banks and other financial institutions provide financing services to upstream and downstream enterprises in the supply chain, the financing decision model of commercial banks is constructed and optimized. Finally, simulation results are given to verify the validity of the model. The main contents and results are as follows: This paper divides the lender decision problem into two ways, when the loan bank provides the loan amount to the two enterprises in the same supply chain upstream and downstream. One option is to make separate decisions for manufacturers and retailers. The other is to participate in the production and operation of the entire supply chain to make joint decisions for the financing of manufacturers and retailers. Research shows that if the initial capital position of the retailer or manufacturer is very small. Joint decision making is a kind of loan mode which is beneficial to both lenders, manufacturers and retailers, which is of great significance to commercial banks in the practical operation of the financing services of capital constrained supply chain. 2) on the basis of the joint decision model, the lower risk control index loan value ratio model is further introduced into the bank decision making in the supply chain finance. The relationship between the financing decision of banks and the value ratio of mortgage loans is studied. The analysis shows that the wholesale prices set by manufacturing enterprises in the supply chain. Such factors as repurchase rate and disposal value of surplus products in the market will affect the loan value ratio of banks. The banks' active participation in the overall operation of the supply chain can increase their loan returns. The paper studies the loan value ratio in the bank mortgage loan. It has important reference value for the credit financing practice of supply chain in reality. This paper analyzes the supply chain finance from a new perspective, at the same time combining with the quantitative model to study the financing operation decisions under various models, enrich the supply chain finance research content at the same time. It provides the basis of financing decision for the loan enterprises with fund gap in the supply chain.
【學(xué)位授予單位】：東北大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F832.4

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