【作者】 夏泰凤；

【导师】 金雪军；

【作者基本信息】 浙江大学 ， 政治经济学， 2011， 博士

【摘要】 如何在供应链背景下,通过金融产品的创新,增强中小企业融资能力,降低其融资成本,已经成为供应链稳定发展的必然要求。供应链金融凭借制度创新,集合企业、资金、金融产品等多种资源,实现了融资关系中各方福利的优化,为中小企业融资困境和技术瓶颈提供了解决方案,为银行带来了新的盈利模式和理念脉络,为拓展第三方中介企业的业务模式进行了探索与创新。供应链金融依托实体经济中供应链上的真实交易关系,为供应链上下游中小企业提供一系列融资产品,可以有效降低整个供应链的融资成本。供应链金融实现了从中小企业生产的静态考察向动态经营考察的飞跃,风险防范方式实现了从实物担保向供应链中物权控制的飞跃,实现了从关注大企业融资向关注与大企业配套的中小企业融资的飞跃,解决了中小企业融资难问题。本文从供应链金融的产生背景和意义入手,将近年来相关文献进行总结,归纳出了支撑供应链金融发展的四块理论基石,并针对现有供应链金融研究体系不完整、不系统的现状,对供应链金融的理念进行剖析,并将其与传统融资模式进行比较得出其独特优势。通过构建数理模型,从模式收益分析、弱化信息不对称、降低信贷风险、提高资金利用率四个方面阐述供应链金融在解困中小企业融资难问题上所具有的优势。以此框架为蓝本,提出了解决中小企业融资难题的金融仓储服务模式,系统阐释了该模式的核心理念、运作流程和业务模式,并对该模式的具体运作进行了定性和定量分析。基于风险管理理论,对金融仓储服务模式的风险控制指标进行分析,.利用数理模型分析其对信贷风险优化及质押率的选择。供应链金融作为一种全新的融资业务模式,不仅给商业银行带来新的市场和盈利模式,而且因其降低融资门槛加速资金流通而备受中小企业欢迎。作为一种新型的具有共赢特征的金融服务产品,通过整合金融资源和各主体,逐渐迈入了中小企业融资的宽广网络大道,并形成了巨大的社会需求,具有良好的发展前景。市场应积极有效的推动该模式的运作,使其更好的为经济发展服务。供应链金融的发展离不开各参与主体的积极推动和有效配合,同时也离不开政府外部环境的营造和政策的引导。更多还原

【Abstract】 In the context of the supply chain.it has become an essential requirement for the stability of supply chain to enhance the financing ability and reduce the financing cost for small and medium enterprises(SMEs)through the innovative financial products. As a system innovation, Supply-chain Finance collects variety resources of business, finance, financial products to achieve the optimization welfare of the parties, which provides a solution of financing and technology bottlenecks for SMEs, which brings new profit models for the bank and explores business models innovation for developing third-party intermediary companies. Supply-chain Finance based on the real economy of supply chain, providing a range of financing products on the relationship between the upstream and downstream of supply chain.which can reduce financing costs for SMEs. Supply-chain Finance achieves the leap from static to dynamic of SMEs production study, to achieves the leap from the physical security to the property control of supply chain in risk prevention method, achieves the leap from the control of large enterprises financing to the attention SMEs financing. This financing model solves the problem of financing SMEs.From the background and significance of Supply-chain Finance, the paper summarized the literature reviews in recent years, summed up the four theoretical foundation of Supply-chain Finance. Because the existing research of Supply-chain Finance not completed and systemic, the paper analyzed the concept of Supply-chain Finance, compared with the traditional financing model to show up its unique advantages. By building mathematical models, through analyzing model-benefit, weakening the information asymmetry, reducing credit risk and improving capital utilization, Supply-chain Finance has four advantages on the issue of SMEs financing.Based on this framework,the paper proposed Storage-financial model to solve the financing problems of SMEs, illustrated the core concept, operational processes and business models of the Storage-financial model, making the qualitative and quantitative analysis of the specific operation. Based on risk management theory, the paper analyzed financial risk control indicators of Storage-financial model, analyzed the optimization credit risk and the choice of the pledge rate using mathematical model.As a new financing model, Supply-chain Finance not only brings new market and profit model to commercial bank, but also highly welcomed by small and medium enterprises because of their lower threshold for financing and accelerated capital flows. As a win-win financial service product, through the integration of financial resources and the main body, Supply-chain Finance provided a broad network of SMEs financing road, and formed a great social needs, which has a good prospects for development. Market should promote the model operation with positive and effective attitude to make use for economic development. Supply-chain Finance development needs the active participation of the main and effective cooperation promotion, it also needs the external environment of government and policy guidance.更多还原