Accounts Receivable Financing Of Internet Finance-based On Evolutionary Game Theory

Small and medium-sized enterprises make great contributions to the economic growth as a special group.But these enterprises find it difficult to get money from Banks and other financial institutions of traditional support because of lacking of mortgage assets,low credit level and high costs of financing.Internet financial arises at the historic moment with rapid development of mobile payments,social networks,search engines,big data and cloud computing technologies.Internet financial challenges traditional financial institutions with its convenient,efficient,low-cost,and it also provides a wide stage to the traditional financial business' s extension.Internet financial accounts receivable financing mode is at the forefront of the Internet financial areas,represents the higher level of Internet banking business development.Banks become pure provider of funds,and credit mode changes into one-to-many accounts receivable loan dominated by electricity.It can achieve "win-win”.It can solve the contradiction between banks and of small and medium-sized enterprises which have urgent need of financing very well,while banks operation risk,small and medium-sized enterprise face a expensive,competitive financing conditions.Research of the Internet financial accounts receivable financing now mainly focused on the optimal model in the process of supply chain financing and the optimal strategy in the process of accounts receivable financing combination among banks,the small and medium-sized enterprises and the core enterprises,mostly treat a single core enterprise or a single small and medium-sized enterprise as a research object,but less for multiple core enterprises and multiple small and medium-sized enterprise.It basically assumes that all of the three sides are completely rational,but there are often information asymmetry in reality.It is also lack in consideration of supervision and punishment mechanism.By applying evolutionary game theory,the paper established a game model of accounts receivable financing in two-level supply chain composed of electricity retailers and suppliers,and researched the cooperation of a two-level supply chain,accounts receivable financing models of supply-chain finance and internet finance,and reputation mechanism in the process of cooperation.We found that in order to realize the accounts receivable financing models of internet finance,the system should satisfy the conditions that electricity retailers and suppliers must make a profit.When the reputation mechanism is introduced,the accounts receivable financing model of internet finance is more likely to be realized.