【作者】 贺群；

【导师】 何德旭； 周宏；

【作者基本信息】 南京农业大学 ， 农村金融， 2013， 博士

【摘要】 我国农业产业化的快速发展已使现代农业突破了传统农业的种养殖范畴,初步形成以种养殖业为中心,向产前、产后延伸,包括了农产品生产资料供应、种养殖生产、农产品加工、农产品分销等环节的农产品供应链体系。农产品供应链种类很多,生猪供应链作为农产品供应链中的一种典型类型,在农业产业化的发展中备受关注。我国是世界猪肉生产第一大国,生猪养殖数量巨大,且猪肉消费在居民肉类消费中所占比重最大,截止2010年末,全国肉类总产量为7925万吨,其中,猪肉产量为5070万吨；牛肉产量为653万吨；羊肉产量为398万吨。生猪年末存栏46440万头；生猪出栏66700万头。因此,生猪养殖业占据着畜牧业的主导地位。农户是生猪供应链的构成主体之一,主要从事生猪养殖生产。生猪养殖对资金的需求量较大,由于农户财力有限,为了保证生猪养殖生产的正常进行,农户需要进行外部融资。但农户自身财务状况和信息不透明、缺乏有效的抵押物或者担保、生产经营风险大,同时正规金融机构为其提供信贷服务的交易成本高,导致农户极易受到正规金融机构的信贷约束。多年来,国家对正规金融机构采取了很多的改革措施,并制定了相关政策增强正规金融机构对农户的信贷支持意愿,但一直没能改变农户依然受到比较严重的信贷约束的状况,正规金融机构对农户“惜贷”行为依然突出。与正规金融机构采取的对农户“惜贷”的行为相反,生猪供应链上的龙头企业却通过与农户签订订单契约,以赊销投入品或者提供生产性资金或者预先支付未来农产品的部分收购资金的方式为农户提供借贷。为什么农村正规金融机构向农户提供信贷的意愿不强,生猪供应链上的龙头企业却愿意与农户签订包含信贷服务的订单契约,为其提供内部融资?哪些因素影响农户参与供应链内部融资?供应链内部融资环境下影响农户信贷可获性的因素又有哪些?因此,本研究的总目标是：本研究运用互联合约理论、交易成本理论、信贷配给理论、信息经济学理论,基于农户视角对龙头企业与农户间的生猪供应链内部融资进行研究,为供应链内部融资解决现有农产品供应链中农户资金流偏紧提供理论和实证基础。主要研究内容和研究结论如下：研究内容一：研究生猪供应链内部融资机制。运用互联合约、交易成本、信贷配给、信息不对称等理论,对生猪供应链上的龙头企业提供内部融资的意愿与可行性、农户参与供应链内部融资的可能性、生猪供应链内部融资运作机理和作用机制以及龙头企业和农户的成本与收益等进行了定性研究。研究结果表明,龙头企业和农户通过参与供应链内部融资获得的收益大于其直接通过外部市场交易获得的收益,增进了龙头企业和农户的福利。供应链内部融资模式使龙头企业和农户建立起紧密的合作关系,促进了供应链的稳定运行。农户缓解了信贷约束,提高了产品质量,解决了农产品销路问题；龙头企业获得了稳定的、高质量的原材料供给,降低了交易成本。研究内容二：研究影响农户参与供应链内部融资的因素。利用生猪供应链上的农户实地调查数据,基于农户行为选择模型实证分析了影响农户参与供应链内部融资的决定因素。研究结果表明,体现农户个体特征的解释变量中,农户的风险偏好通过了显著性检验,影响为负；体现农户生产经营特征的解释变量中,农户养殖规模和农产品的预期价格波动幅度这两个变量均通过了显著性检验,影响为正。农户获得的银行信用通过了显著性检验,影响为负；订单条款特征中体现供应链内部融资合作双方利益分配公平性的订单定价方式和定价结算条款以及体现供应链内部融资合作双方利益保障程度的违约补偿条款这三个解释变量均通过了显著性检验,影响为正。研究结果验证了本文的研究假说1。研究内容三：研究供应链内部融资环境下影响农户信贷可获性的因素。基于heckman模型,运用生猪供应链上的农户实地调查数据,实证分析了供应链内部融资环境下影响农户信贷可获性的因素。研究结果表明,体现农户个体特征的解释变量中,农户是否是本地人和农户是否是村干部这两个变量均通过了显著性检验,影响为正；体现农户生产经营及财务特征的解释变量中,农户养殖规模通过了显著性检验,影响为正。农户的家庭总资产和农户获得的银行信用这两个变量均通过了显著性检验,影响为负,且模型的回归结果显示,供应链内部融资与银行信用之间的替代程度为61.04%,说明供应链内部融资是一条拓宽农户信贷可获性的重要渠道,可以显著缓解农户受到的信贷约束,验证了本文的研究假说2；体现农户与龙头企业关系特征的解释变量中,订单履约比例和沟通次数这两个变量均通过了显著性检验,影响为正。研究结果验证了本文的研究假说3。更多还原

【Abstract】 With the rapid development of agriculture industrialization in our country, the planting and breeding scope in modern agriculture has broken through that in traditional agriculture. With the planting and breeding industry as its center and extending to pre-production and post-production, an agro-product supply chain system has been formed preliminarily, covering links like the supply of production means of agro-products, planting and breeding production, agro-product processing, and agro-product distribution, etc.There are many kinds of agro-product supply chains. The e pig supply chain, as a typical kind in agro-product supply chains, has aroused much attention in the development of agriculture industrialization. China is the No.1pork producing country in the world. The number of live pigs being bred is immense, and pork consumption is accounting for the highest proportion in meat consumption of inhabitants. Till the end of2010, the national total meat output is79.25million tons, in which pork output is50.7million tons, beef output6.53million tons, and lamb output3.98million tons. At the end of the year the amount of live pigs on hand is464.4million, and that for slaughter is667million. Hence live pig breeding is leading the stockbreeding industry.Farmers is one of the main body in pig supply chain, mainly engaged in pig production. Pig breeding demand for money is bigger, because the farmers limited financial resources, to ensure the normal conduct of pig production, farmers external financing is required. Their financial status and information are not transparent. They lack effective montage or guarantee and have high risk of production and operation. At the same time the transaction costs of credit services offered by formal financial institutions are high. Therefore farmers are liable to credit constraint from formal financial institutions. For many years the state has taken many reform measures to formal financial institutions, but farmers are still seriously constrained in credit. The behavior of sparing loans to farmers from formal financial institutions is quite extrusive. Contrary to sparing loans to farmers from formal financial institutions, the leading enterprises on live pig supply chain provide loans to farmers through signing order contracts with farmers, selling investment goods on credit, or supplying productive funds, or paying part of purchasing funds for future agro-products in advance. Why don’t formal financial institutions have strong will to supply loan to farmers, while the leading enterprises on live pig supply chain are willing to sign order contracts including credit services to provide internal financing? It’s a question worthy of attention how to study the relationship between internal financing in the supply chain and loan availability of farmers.Hence, the general target of the study is:Based on the theories of interconnection contracts, transaction costs, credit rationing, and information asymmetry, etc., the relationship between internal financing in live pig supply chain and loan availability of farmers from the perspective of farmers is studied to provide theoretical and empirical foundation for solving the problem of funds flow tightness of farmers in present agro-products supply chains through internal financing.Study content I:Study the internal financing system in live pig supply chain. Applying the theories such as interconnection contracts, transaction costs, credit rationing, and information asymmetry, etc., make a qualitative research on the will and feasibility of providing internal financing from the leading enterprises in live pig supply chain, the possibility of farmers participating in internal financing in live pig supply chain, operating mechanism and functioning system of internal financing in live pig supply chain, and costs and benefits of leading enterprises and farmers, etc. The research results show that leading enterprises and farmers benefit more from participating in internal financing in supply chain than directly from outside market transaction, hence the welfare of leading enterprises and farmers is enhanced. A close cooperative relationship between leading enterprises and farmers is formed through the pattern of internal financing in supply chain, and the stable operation of supply chain is promoted. As for famers, the credit constraint is relieved, product quality is improved and the problem of agro-products sale is solved. And leading enterprises have obtained stable and high-quality supply of raw materials, with transaction costs reduced.Study content II:Study the factors influencing farmer’s involvement in internal financing in supply chain. Applying field survey data from farmers on live pig chain, the decisive factors of influencing farmers to participate in internal financing in supply chain are empirically analyzed based on farmer behavior selection model. The research results show that in explanatory variables reflecting the individual features of farmers, the risk favor of farmers has passed significance test, and the influence is negative. In explanatory variables reflecting productive and operative features of farmers, the two variables of farmers’breeding scale and anticipative price fluctuating range of agro-products have passed significance test, and the influence is positive. The bank credit that farmers have obtained has passed the significance test, and the influence is negative. The three explanatory variables, the order pricing approach and pricing settlement clause which reflect the benefit distribution fairness between cooperation parties of internal financing in supply chain in order clause features, and breach compensation clause reflecting benefit guarantee level of both cooperative parties of internal financing in supply chain, have passed the significance test, and the influence is positive. The results of the research prove the research hypothesis1of the thesis.Study content III:Study the factors influencing of internal financing environment in supply chain on farmer credit availability. Based on Heckman model, applying field survey data from farmers on live pig supply chain, the influence of internal financing in supply chain on farmer credit availability is analyzed empirically. The research results show that in the explanatory variables reflecting the individual features of farmers, the two variables of whether a farmer is a native and whether a farmer is a village cadre have passed the significance test, and the influence is positive; in the explanatory variables reflecting farmers’productive and operative features and financial features, farmers’breeding scale has passed the significance test, and the influence is positive. The two variables of farmers’ family total assets and bank credit obtained have passed the significance test, and the influence is negative. The regression results of the model show that the substitution level between internal financing in supply chain and bank credit is61.04%, which shows that internal financing in supply chain is an important channel to widen farmer credit availability and it can significantly relieve the credit constraint to farmers. The research hypothesis2of the thesis is proved. In the explanatory variables reflecting the features of the relationship between farmers and leading enterprises, the two variables of order fulfillment proportion and number of communication times have passed the significance test, and the influence is positive. The results of the research prove the research hypothesis3of the thesis.更多还原