Research On Risk Management Of Pledging By Warehouse Receipts In Grain Logistics Enterprise

Pledge of warehouse receipts is a kind of financial product, which is also an innovative product of co-operation between the logistics and financial business. Warehouse receipts pledged loan business can be taken in to the area of grain logistics industry, which aims at increasing the business growth of grain logistics enterprises, reducing the credit risk of banks, solving the problem that the grain companies and farmers are hard to loan. It will be a three win-win situation. Researching and exploring a model for grain logistics of pledge by warehouse receipts suitable to the conditions of our nation to meet the pressing demand of the grain enterprises for the financial services and logistics services will be a major issue for grain logistics enterprises to face up with for quite a long time.However, in the process of implementation of grain logistics pledge by warehouse receipts, there exists many risks, but effective identification of risk factors can be effective in controlling the occurrence of losses. Therefore, this thesis set up an index system of risk evaluation on pledge by warehouse receipts for grain logistics business in China, and with the quantitative research, this paper has a certain theoretical and practical significance.This paper is divided into six chapters, such as follows:Chapter one Preface. Analyzed the background and meaning of the study on pledge of warehouse receipts in grain logistics enterprises, summarized domestic and overseas relative study actuality about grain logistics enterprises, logistics finance, risk management and its pledge of warehouse receipts, introduced the problems that existing in recent research, set up the study, research methods and technical routes of this paper.Chapter two Study the basic theory of the research on risk management of pledging by warehouse receipts in grain logistics enterprises. Studied the basic theory of grain logistics enterprises, pledge of warehouse receipts and risk management is not only the theoretical basis for the study but also the theoretical basis for the model of pledge of warehouse receipts in grain logistics enterprise. Included the definition and features of the grain logistics enterprises, the theory of the pledge of warehouse receipts in the grain logistics enterprises such as transaction costs theory, theory of credit rationing, self-liquidating trade finance theory and theory of Supply Chain Alliance. Focused on an analysis relative study actuality about China's grain logistics enterprises and pledge of warehouse receipts, from the perspective of macro-and micro-analysis of China's grain logistics enterprises problems and solutions.Chapter three Integrate the model of pledge of warehouse receipts in China's grain logistics enterprises. The main analysis about the current model of the pledge of warehouse receipts and than introduced it into the field of grain circulation, accordance with the characteristics of grain logistics integration. At the same time, because of China's grain production is mainly depending on small-scale peasant economy, this paper introduced rural cooperative organizations into the pledge of warehouse receipts in grain logistics enterprises could be made not only an effective solution to the problem loans of farmers, but also solved the conflicts between"small producers and large markets". In addition, proposed a model of pledge of warehouse receipts in grain logistics enterprises which based on the grain futures market, promoted the standard warehouse receipts pledge could reduce the risk of the business as well as conducive to an active futures market, and promoted grain futures market and the common development of the spot market.Chapter four Set up the evaluation index system about the pledge of warehouse receipts in grain logistics enterprise. Through researched the model of the pledge of warehouse receipts in grain logistics enterprises to identify and analysis the various risk factors in the process of the grain warehouse receipt loans, and then established the evaluation index system about the pledge of warehouse receipts in grain logistics enterprise. Through the expert scoring questionnaire, to determine the matrix structure, used the Analytical Hierarchy Process Method with DPS statistical software, and then obtained the weight of each parameter value which was sorted accordingly the importance of risk factors.Chapter five Proposed advice to control the risk of pledge of warehouse receipts in grain logistics enterprise. Proposed advice to control the risk of pledge of warehouse receipts in grain logistics enterprise based on the discriminant analysis in the impact of major risk factor, combined the current development status and the characteristics of the China's grain logistics enterprises and pledge of warehouse receipts, which could promote our grain logistics enterprises to develop the business smoothly.Chapter six Conclusion and outlook. Summarized the inclusion of this paper, emphasized the chief innovation in this paper, put forward of the later study.