低碳港口存货质押贷款定价模型研究

Study of pricing model for low- carbon port inventory pledge loan

在港口低碳转型大趋势下,港口物流金融存货类质押贷款业务在实践中的高速发展,如何在港口物流存货类质押贷款理论决策中融入低碳港口约束因素、间接推动港口转型升级显得十分迫切。本研究深入探讨低碳转型下的港口质押贷款利率决策理论,在提出违约调整利差原理、低碳调整利差原理和质押风险控制原理的基础上,建立了低碳港口流动性较强存货类物流质押贷款利率决策模型,并推导出违约和低碳调整利差下的质押贷款最优利率,以及质押物价格、市场利率以及碳排治理成本各种参数对质押贷款最优利率影响表达式,进一步丰富了现有港口质押贷款利率决策理论与模型。最后,采用某港口实际数据演算并进行敏感性分析,验证了模型可行性、可用性。

In the general trend of the port low-carbon transition, the loan for the port logistics financial inventory pledge has been developing rapidly in practice and it is very urgent how to integrate the low- carbon port constraint factors in the decision making of the port logistics inventory pledge loans so as to promote indirectly the transformation and upgrading of the port. In this study, the port pledge ban interest rate decision -making theory in the low- carbon transition was deeply studied, based on the proposed default option - adjusted spreads, low - carbon adjustment spreads and pledge risk control principles, and the strong liquidity inventories of low -carbon port logistics pledge loan interest rate decision model was established, and derive the pledge loan optimal rate under the acenario of default option - adjusted spreads and low - carbon adjustment spreads. At the same time, the pledge price, market interest rate and carbon emission control cost and various parameters which affect the pledge loan optimal rate formula are derived. Finally, the actual data of a certain port was used to perform sensitivity analysis calculations to verify the model＇s feasibility and usability.