Securitization Of SMEs Accounts Receivable Research Based On Supply Chain Finance

Financing has been a major bottleneck restricting the development of SMEs, to solve this problem the Government began to establish financial services and credit guarantee system for SMEs, and also began to broaden direct financing channels too. This study wants to combine the two ways and give a new direct financing channel to SMEs.Based on supply chain finance, and using the principle of asset securitization, to design the core enterprise vendors SME accounts receivable securitization mechanism to solute the problem which due to SMEs low credit situation and a large number of trade accounts receivable occupancy issues. After complete the design of SMEs accounts receivable securitization mode based on supply chain finance background, select the two key issues to research, the first one, from a risk control perspective to establish the context of supply chain finance SME accounts receivable credit risk evaluation system, and use the fuzzy DEA to assess the credit risk of asset pool. Second, analyse the process of securitization of receivables risk, and considering the possible risks to reserach accounts receivable securitization issuance and transfer pricing issues, explore new ideas to price the risk of accounts receivable. Without changing the financial leverage of the case Accounts receivable securitization broadened the financing channels for enterprises and improved the financial situation of enterprises, which is important to improve and enrich China’s capital market.