The Chemical Industry In The Logistics And Financial Trading Platform Mechanism Design

The paper firstly analyses the difficulties of chemical SMEs' financing in China and its main reason information asymmetry. Then a model called "chemical industry logistics financing trading platform" is proposed to resolve the problem. The risk management of the platform is also modeled and discussed.The chemical industry logistics financing trading platform is constructed by the alliance of TPL and commercial banks, delivering service of trading, logistics, as well as financing. This mode of platform can be an effective solution of the problem of asymmetric information between banks and enterprises. In this platform, banks' credit risk can be effectively controlled, chemical SMEs ease the funding problems, TPL has expanded its business. Ultimately it is the tripartite win-win situation.In the chemical industry, the greatest risk of logistics financing comes from two sites:the SME itself and the value of the collateral. DEA method is introduced to the chemical industry logistics financing trading platform for SME credit evaluation. With historical data in the platform, new evaluation indexes are found and the chemical industry logistics financing trading platform evaluation index system is set up. Based on the success cases set, we can use DEA method to determine accepting or rejecting the new case.For the collateral risk, loan-to-value ratio is considered as the risk management tool. The loan-to-value ratio also acts an important part in the credit risk controlling. With a newsvendor model, we find that the loan-to-value ratio has a significant effect on the credit risk. There exists a tradeoff between loan-to-value ratio controlling and expected profit. In addition, the platform makes it possible to mark the ratio daily, which improves the payoff simultaneously of bank and SMEs.The paper gives a systematic study of the model of chemical industry logistics financing trading platform as well as its risk management mechanisms, which enriches the content of the logistics finance research. The model and mechanisms also has some significance to the industries other than chemicals.