基于应用实践的供应链金融:本质、特征及界别

Supply Chain Finance Based on Application Practice:Essence,Characteristics and Boundary

文章力求通过对供应链金融“链结构”的核心特征与核心企业“信用荫蔽”的作用的比较分析,来区分类似形态的产融活动,厘清其边界。通过资本资产定价模型来揭示供应链金融的风险收益本质,以求在深化认知的同时为后续研究的开展和相关金融产品的应用指明路径。最后,基于现代金融科技的运用,展示行业市场属性的变迁,以提升认知水平。

Based on the core characteristics of supply chain finance as chain structure and credit covering of core companies,this paper aims to demarcate supply chain finance and other similar industrial financing phenomena by comparative analysis.Through revealing the return-risk essence of supply chain finance by the Capital Asset Pricing Model(CAPM),this paper attempts to deepen the perception and point out the direction for further research and practice.With the application of modern financial technologies,this paper is aimed to elevate the perception by exhibiting the changes of industry market attributes.