供应链金融平台的信用创造及其微观效应

Credit Creation and Micro Effects of Supply Chain Financial Platform

目前学术界对供应链金融平台的信用创造及其微观效应缺乏研究。引入货币供给理论的分析方法,在分析核心企业和供应商加入供应链金融平台动机的基础上,研究供应链金融平台的信用派生过程、影响因素、微观效应。研究表明,在一定条件和范围内,供应链金融平台上核心企业的信用可以履行货币的支付及流通功能,从而替代货币的使用,信用创造规模与核心企业开立的初始信用金额、信用流转速度、信用清偿期限、供应商级数、银行对核心企业的授信额度、信用票据贴现比例及持有到期比例等因素有关,该信用的创造及流转有利于解决供应链上中小企业融资问题,降低供应链应收应付款规模。最后以实际案例分析验证。

At present,there is a lack of research on credit creation and micro effect of supply chain financial platform in academic circles. This paper introduces the analysis method of money supply theory to study the credit derivation process,influencing factors and micro effect of the supply chain financial platform on the basis of analyzing the motivation of core enterprises and suppliers to join supply chain financial platform. The research shows that,within certain conditions and scope,the credit of core enterprises can perform the function of currency payment and circulation,so as to replace the use of currency. The scale of credit creation is related to the initial amount of credit opened by core enterprises,the speed of credit circulation,the payment period of credit,the number of suppliers,and credit lines granted by banks to companies,the discount ratio and maturity ratio of credit bills. The creation and circulation of this credit is conducive to solving the financing problems of SMEs in the supply chain and reducing the scale of receivables and payables in the supply chain. Finally,it is verified by a case study.