流动性约束下外部冲击对生猪供应链的决策影响——基于商业信用分析

Liquidity Restraint: Analysis Based on Business Credit

生猪的产业属性使供应链节点企业的生产风险大,融资成本高,易形成流动性约束。生猪供应链节点企业承受外部冲击时,基于供应链上的商业信用关系,造成整条供应链产生流动性风险与系统性风险,显现流动性约束。分析流动性约束下生猪供应链节点企业的投入与产出,构建数理模型的一般形式,讨论不同情境下流动性约束的动态差异,并根据生猪产业数据对生猪供应链节点企业的商业信用风险及抗风险能力进行测算。

For those enterprises on the node of supply chain,production risk is big,and capital raising cost is high,and liquidity restraint is easy to form,out of the nature of swine industries. When those enterprises bear the extern stroke,based on the business credit relation on the supply chain,liquidity risk and systematic risk are caused on the whole supply chain,displaying a liquidity restraint. Analysis is made on the input and output of those enterprises on the node of supply chain under the liquidity restraint,and a common form of mathematic model is constructed,and the dynamic difference of liquidity restraint under different situations is discussed,and the business credit risk and risk- resistance capacity of those enterprises on the node of supply chain are measured on the basis of swine industry data.