权力关系视角下供应链企业融资需求成因分析

How Does the Power Structure of Supply Chain Influence Firms' Financing Service Needs?

供应链金融是企业融资、银行开源新渠道,有显著的经济与社会效益。本文基于权力理论,通过对4家采用供应链金融产品企业所处供应链中的合作关系进行系统性案例研究,识别出供应链金融需求产生的原因和基本过程:(1)供应链成员间权力不对等使供应链中订货、付款、库存、物流管理等交易机制向权力较大一方倾斜;(2)不对等的交易机制使权力较小一方通过预付或赊销垫付大量资金,并承担着由权力较大一方转嫁来的库存与物流成本,一旦流动资金无法负担日常运作需要,就会产生融资的需求;(3)供应链成员间的权力关系对供应链交易机制的影响作用与权力较大一方在供应链中的位置无关,但权力较小一方采用的金融产品类型与其所处供应链位置有关。

Supply chain financing is a new channel for firms to raise capital and for banks to increase benefits,and thus has significant economic and social value.Based on power theory,this study identifies the underlying mechanism and basic processes of firms＇ supply chain financing needs by investigating four supply chain firms which use supply chain financing services and their respective supply chain relationships through the method of case study：（1）The power asymmetry between supply chain members make the order,payment,inventory,and logistics policies in the supply chain favorable to the powerful party.（2）The unequal trading policies compel the less powerful party to pay in advance,and take charge of the whole inventory and logistic cost.Once their working capital can not meet the requirement of their daily operation,their needs for supply chain financing will emerge.（3）The impact of power relationship between supply chain members on supply chain trading polices has nothing to do with the powerful party＇s position in the supply chain.However,the type of supply chain financing services the less powerful party uses will be influenced by its position in the supply chain.