摘要
针对供应链金融创新中季节性存货质押融资业务的重要风险控制指标-贷款额度展开研究,首先借鉴贸易融资中"主体+债项"的风险评估思路,考虑委托监管模式的物流特征及成本收益结构,分析了借款企业的现金流状况及其性质;进而,将已有相关研究关于银行风险中性的假设拓展到银行下侧风险规避,分析了季节性存货质押融资中符合银行风险容忍水平的最高贷款额度。研究表明:下侧风险限制能够有效控制季节性存货质押融资业务的风险,使贷款符合银行设置的风险容忍水平。
This paper focuses on loan limit indicator of seasonal inventory financing in supply chain financial innovation. According to the ＂corporate and debt＂ method in trade credit and based on the logistic features of consigning-supervision mode and the relevant cost-benefit structure, this paper analyzes cash flow statement of borrowers. Then, this paper assumes downside-risk-averse banks instead of risk-neutral banks discussed in existing literature, and analyzes loan limit consistent to risk tolerance level of banks in seasonal inventory financing. The results show that downside-risk limits can control the risk of seasonal inventory financing and make the loan consistent to risk tolerance level of banks.
出处
《系统科学与数学》
CSCD
北大核心
2009年第11期1552-1558,共7页
Journal of Systems Science and Mathematical Sciences
基金
国家自然科学基金重点资助项目(70731003)
中国博士后面上资助项目(20080440072)
江西省社会科学“十一五”规划项目(08YJ91)
江西省教育厅资助科研项目(GJJ09555)
关键词
供应链金融
存货融资
质押
贷款额度.
Supply chain finance, inventory financing, pledge, loan limit
