核心企业信用扩散背景下旅游供应链金融信用风险评估研究——基于旅游餐饮行业上市公司的数据分析

Research on the Evaluation of Financial Credit Risk of Tourism Supply Chain Under the Background of Credit Diffusion of Core Enterprises:Data Analysis Based on Listed Companies in Tourism and Catering Industry

与中国旅游业蓬勃发展所伴生的是旅游供应链中众多的轻资产型中小企业难以从金融机构获得资金支持,资金需求成为制约阻碍其发展的较大问题之一。在旅游供应链中拥有核心资源和竞争力的核心企业,利用自身的优势及资信能力,为供应链内与其合作的中小企业提供信用扩散,可以帮助中小企业盘活资产,打通企业资金循环。基于此,文章选取29家旅游餐饮行业上市公司,以企业盈利能力、企业偿债能力、企业运营能力、企业成长能力、企业现金流量作为一级指标,利用因子分析的方法获得其各自的信用状况评分,建立了旅游供应链金融视角下的核心企业信用风险评价模型,并对旅游供应链金融发展提出相关建议。

With the rapid development of China s tourism industry,many small and medium-sized light asset enterprises in the tourism supply chain are difficult to obtain financial support from financial institutions,and the demand for funds has become one of the major issues hindering their development.The core enterprises with core resources and competitiveness in the tourism supply chain can make use of their own advantages and creditability to provide credit diffusion for the small and medium-sized enterprises cooperating with them in the supply chain,which can help the small and medium-sized enterprises to activate their assets,ease the financial constraints and achieve win-win results in many ways.Based on this,this article has selected 29 listed companies in the tourism and catering industry extracting their corporate features including the corporate profitability,solvency,operating capacity,growth capacity,and corporate cash flow as the first-level indicators for factor analysis to obtain their respective credit status scoring.Moreover,a core enterprise credit risk evaluation model has been further established from the perspective of tourism supply chain finance and put forward relevant suggestions for the development of tourism supply chain finance.