本文關鍵詞：基于應收票據(jù)的物流金融模式研究　出處：《北京交通大學》2015年碩士論文　論文類型：學位論文

  更多相關文章： 物流金融 NRLF模式 大型物流企業(yè) 中小物流企業(yè) 運作決策 融資博弈

【摘要】：摘要：隨著我國經(jīng)濟的高速發(fā)展,中小企業(yè)在數(shù)量上已經(jīng)成為了我國企業(yè)構成的主體,在一定程度上也成為了我國最大的就業(yè)載體。然而傳統(tǒng)銀行信用貸款業(yè)務的限制,中小企業(yè)在獲得金融資源支持方面的地位卻截然不同與其在國民經(jīng)濟中的地位。隨著物流企業(yè)的蓬勃發(fā)展和銀行服務創(chuàng)新需求,出現(xiàn)了許多以物流企業(yè)為核心的物流金融融資模式。本文基于交易成本、委托代理、信息不對稱三大理論,通過融資企業(yè)資產(chǎn)結構分析,提出流動性弱的問題資產(chǎn)可行性分析,以問題資產(chǎn)設計物流金融模式。以產(chǎn)權渠道中小企業(yè)為例,提出問題資產(chǎn)可行性分析,設計倉單質押、保兌倉等模式。針對物流渠道中小物流企業(yè)無存貨、少量固定資產(chǎn)、大量應收票據(jù)的資產(chǎn)結構狀況提出了以大型物流企業(yè)為“代理人”的應收票據(jù)物流金融NRLF (Notes Rceivable Logistics Finance)的融資模式。通過大型物流企業(yè)對中小物流企業(yè)的業(yè)務、營業(yè)狀況做評價并給予一定的擔保,以降低銀行的風險,并盤活物流渠道中的沉淀資金。以應收票據(jù)為研究對象,定量分析在有大型物流企業(yè)參與下NRLF模式對參與主體三方的運作決策和成本收益的影響。 首先,構建NRLF運作決策模型,通過模型求解,并用MATLAB得到,大型物流企業(yè)的努力系數(shù)不但能影響中小物流企業(yè)違約概率,也能幫助銀行規(guī)避貸款風險,從而影響銀行貸款決策。同時中小物流企業(yè)努力系數(shù)也可以直接影響大型物流企業(yè)的收益和決策。一方面大型物流企業(yè)要付出一定的努力監(jiān)管票據(jù)和中小物流企業(yè)業(yè)務。當努力系數(shù)超過一定的范圍,努力系數(shù)邊際成本將急劇上升,因此另一方面大型物流企業(yè)又需要控制努力系數(shù)。 其次,建立大型物流企業(yè)和中小型物流企業(yè)NRLF融資頻率博弈模型,通過模型成本收益求解得到,大型物流企業(yè)是融資次數(shù)的減函數(shù),中小物流企業(yè)是融資次數(shù)的增函數(shù),通過博弈論可得融資可行域。當雙方采用合作聯(lián)合優(yōu)化的模式,可獲得系統(tǒng)最優(yōu)解,通過卡爾多-�？怂垢倪M理論確定補償方案使得各方收益都大于非合作模式收益。 最后,在上述模型分析的基礎上,進行實證分析,給出參數(shù)結果并進行數(shù)值分析,對模型的應用進行驗證。并與傳統(tǒng)貸款模式計算結果作比較,證明了NRLF模式的可實踐性和可操作性。
[Abstract]:Absrtact: with the rapid development of economy in our country, small and medium-sized enterprises have become the main body of enterprises in our country in quantity. To some extent, it has also become the largest employment carrier in China. However, the traditional bank credit loan business is limited. The status of small and medium-sized enterprises in obtaining financial resources support is quite different from their position in the national economy. With the vigorous development of logistics enterprises and the innovative demand of banking services. There are many logistics financial financing models with logistics enterprises as the core. Based on the transaction cost, principal-agent theory and asymmetric information theory, this paper analyzes the asset structure of financing enterprises. The feasibility analysis of the problem assets with weak liquidity is put forward, the logistics financial model is designed with the problem assets, and the feasibility analysis of the problem assets is put forward with the example of the small and medium-sized enterprises in the property right channel, and the warehouse receipt pledge is designed. Confirmation warehouse and other models. For logistics channels, small and medium-sized logistics enterprises do not have inventory, a small number of fixed assets. A large number of notes receivable assets structure of the proposed large logistics enterprises as "agents" of bill receivable logistics finance NRLF (. The financing mode of Notes Rceivable Logistics Finance. The business of small and medium-sized logistics enterprises through large logistics enterprises. In order to reduce the risk of the bank and activate the deposit fund in the logistics channel, the paper makes the evaluation of the business status and gives certain guarantee. Take the bill receivable as the object of study. Quantitative analysis of the impact of the NRLF model on the decision making and cost-benefit of the three parties involved with the participation of large logistics enterprises. First of all, the NRLF operational decision-making model is constructed, solved by the model, and obtained by MATLAB, the effort coefficient of large logistics enterprises can not only affect the probability of small and medium-sized logistics enterprises defaulting. It can also help banks avoid lending risks. At the same time, the coefficient of effort of small and medium logistics enterprises can also directly affect the income and decision of large logistics enterprises. On the one hand, large logistics enterprises have to pay a certain amount of effort to supervise bills and small and medium-sized logistics enterprises. Business. When the coefficient of effort exceeds a certain range. The marginal cost of the coefficient of effort will rise sharply, on the other hand, large logistics enterprises need to control the coefficient of effort. Secondly, establish large logistics enterprises and small and medium logistics enterprises NRLF financing frequency game model, through the model cost and income solution, large logistics enterprises is the reduction function of financing times. Small and medium-sized logistics enterprises are the increasing function of financing times, and the feasible region of financing can be obtained by game theory. When both sides adopt the mode of cooperative and joint optimization, the optimal solution of the system can be obtained. The compensation scheme is determined by the Cardox-Hicks improvement theory, which makes the income of all parties greater than that of the non-cooperative mode. Finally, on the basis of the above model analysis, the empirical analysis is carried out, the parameter results and numerical analysis are given, the application of the model is verified, and the results are compared with the traditional loan model. The practicability and maneuverability of NRLF model are proved.
【學位授予單位】：北京交通大學
【學位級別】：碩士
【學位授予年份】：2015
【分類號】：F259.23;F832.4

【參考文獻】

相關期刊論文 前10條

1 袁慶明,劉洋;威廉姆森交易成本決定因素理論評析[J];財經(jīng)理論與實踐;2004年05期

2 萬泉;;論物流金融服務模式——第三方物流企業(yè)的服務創(chuàng)新[J];電子商務;2009年07期

3 謝鵬;;物流金融運作模式探討[J];福建金融;2007年02期

4 張墨晗;;我國企業(yè)物流金融研究[J];經(jīng)營管理者;2008年14期

5 張燃;用Logit模型預測銀行客戶的違約概率[J];金融教學與研究;2005年04期

6 宰予東;現(xiàn)代金融與物流業(yè)的協(xié)同發(fā)展[J];金融理論與實踐;2004年06期

7 李蓓;;物流金融在進出口貿易中的應用[J];金融與經(jīng)濟;2006年10期

8 賀力平;克服金融機構與中小企業(yè)之間的不對稱信息障礙[J];改革;1999年02期

9 李建軍;;基于物流金融的第三方物流融資模式研究[J];商場現(xiàn)代化;2009年08期

10 彭志忠;;物流金融的價值鏈提升要素分析[J];山東大學學報(哲學社會科學版);2007年04期

相關博士學位論文 前1條

1 白馬鵬;供應鏈金融服務體系設計與優(yōu)化[D];天津大學;2008年

，

本文編號：1408085