私人治理、法律规则与金融发展——基于供应链金融合同治理的案例研究

Private Governance, Law and Financial Development: A Case study on the supply chain finance contract

对供应链金融合同的案例研究结果显示:供应链金融合同的主要当事人——银行、借款企业与物流公司之间通过合同设计的保证金、优先权、第三方监管以及供应链商业网络等私人治理机制促进了供应链金融合同的履行,进而促进了供应链金融的发展;法律则通过嵌入到供应链金融合同的私人治理机制,影响供应链金融发展。这一结果表明:金融发展并不仅仅依赖于具有普遍性的正式制度或者非正式制度,私人之间通过合同安排的非标准的个性化的私人治理及其与法律规则的互动亦能对金融发展产生积极的影响。

The case study on the supply chain finance shows that contracts among the bank, the borrower and the logistics company integrate bundles of private governance mechanisms, such as warranty provision, priority provision and the third part supervising mechanism and also the business networks. These private governance mechanisms promote the contract performance and then the financial development. Usually, rules of law embed into the private governance mechanisms and effect the financial development. The conclusion is that the financial development is not solely dependents on the common institution, including the law and the informal one, the private parties can design the adaptable private governance mechanism through the nonstandard contract and the rules of law introduced into the contract.