民营粮食收购企业供应链融资模式选择的影响因素研究

Research on the Influence Factor of Supply Chain Financing Modes Selected by Private Grain Procurement Enterprises

论文针对东北三省中小民营粮食收购企业存在融资难的问题,选取东北三省中小民营粮食收购企业收储供应链为研究对象,首先,通过问卷调查得出:一是这类企业选择供应链融资模式频率由小到大依次为“应收账款类融资模式”“信用类融资模式”“存货类融资模式”;二是在下游购销企业主导的粮食收储供应链金融中,以其自身资质向中小民营粮食收购企业提供担保的意愿不高;三是中小民营粮食收购企业认为政商关系总体在合格以上。其次,运用多变量Probit模型,得出供应链融资模式选择影响机理:贷款期限对信用类融资模式选择有显著的正向影响,政府对这类企业的服务水平正向影响着存货类融资模式选择。最后,得出政策启示:政府应提高服务水平精准到选择存货类融资模式的企业,通过优质中小企业梯度培育政策鼓励中小民营粮食收购企业兼并,鼓励银行扩大资产负债率的融资条件到8%—20%。

The research paper focuses on the financing difficulties faced by small and medium-sized private grain procurement enterprises in the three northeastern provinces of China.The storage and supply chain of these enterprises were selected as the research subject.First,through a questionnaire survey,the following findings are obtained:The frequency of choosing supply chain financing models by these types of enterprises,from high to low is'accounts receivable financing mode'credit-based financing mode'inventory-based financing mode'.Second,in the financial supply chain dominated by downstream enterprises,there is a low willingness to provide guarantees to these enterprises based on their own qualifications.Third,these enterprises generally believe that the overall government-business relationship is satisfactory.Furthermore,using a multivariate Probit model,the impact mechanisms on the selection of supply chain financing modes were identified:the loan term has a significant positive effect on the choice of credit-based financing mode,while the service level of government to these enterprises positively influence the selection of inventory-based financing mode.Finally,the study provides policy implications:The government should improve its service level to accurately select inventory-based financing models for the enterprises.It should encourage the merger of high-quality small and medium-sized private grain procurement enterprises through a policy of gradient cultivation for small and medium-sized enterprises.Additionally,banks should be encouraged to expand financing conditions for asset-liability ratios to 8%—20%.