The Financing Model And Strategy Research Based On Syndication Loan With Joint Liability In Supply Chain

Enterprise supply chain competition has become one of the important factors affecting the market competition in this society. While the flow of funds for continued operation of the supply chain has important influence, capital constraint has become the bottleneck of the development of many small and medium-sized enterprises. Due to the influence of the scale of operation or credit degree, the financing has been a big problem for small and medium-sized enterprises. Based on the security of scale, reputation and financial strength of the core enterprise, supply chain finance has become an effective way to solve the financing difficulties. Supply chain financing is a complex problem, not only affects the production and trading decisions on the supply chain enterprises, but also has important influence on the interests of the whole supply chain.In recent years, joint liability financing has been carried out gradually in major domestic financial institutions. Joint liability is a kind of typical guarantee financing model, and also is a kind of innovation which reflects the supply chain financing. As a new financing pattern, joint liability is worth researching. From the perspective of supply chain management, this paper focuses on analyzing joint liability model between enterprises. A single supplier and retailer joint liability financing model is extended to a single supplier and multiple retailers joint liability financing model, this paper studies the joint liability operation mechanism, the financing strategy choice and its related laws of the supply chain enterprises.Through the method of literature review, dynamic game, sensibility analysis and numerical analysis, this paper studies the model and strategy based on syndication loan with joint liability in supply chain. Firstly, this paper analyzes joint liability research status and improvements based on the related literature in domestic studies. Secondly, based on the supply chain enterprises, combined with the existing research, this paper analyzes of single and multi joint liability model, establishing the Stackelberg game model, and applying the method of game theory to get the optimal strategy through analyzing the expected profit of supply chain enterprises. On the basis of the result, this paper studies the critical point of joint liability model, providing the theoretical basis for capital constraint enterprises to select strategy in supply chain. Finally, this paper implements numerical analysis. Calculation and numerical simulation have been carried out to deep analyze and verify the relevant proposition conclusion of joint liability by Matlab. Research shows that: In the face of financial constraints, the joint liability mechanism has its specific mode of operation, and enterprises can refer to the critical condition of mode selection. Financing with joint liability can effectively cut down the enterprise repayment default rate, reduces the risk of bank loans. It can help improve the overall profit of the supply chain, compared with only relying on its own funds model.