Stock Pledge Financing Decision Research Under Partial Credit Guarantee Of Suppliers And Stochastic Price Fluctuations

The development of small and medium-sized enterprises has promoted the growth of China's economy.According to statistics,SMEs have applied for more than half of the country's technology patents.The healthy growth of SMEs is the focus of the country.However,SMEs still have many difficulties to solve,the most important of which is the difficulty of obtaining financing.How to solve the financing difficulties of SMEs is the most important research topic for scholars.Inventory pledge financing has made it difficult for SMEs to obtain financing.Inventory pledge financing has many advantages,such as optimizing information asymmetry and reducing credit risk,which is very popular among many financial institutions.In this paper,two parts of the work of financing difficulties for SMEs are carried out:Work 1 adds part of the credit guarantee contract to the inventory pledge financing model,and establishes and analyzes the Stackelberg game model of the inventory pledge financing that joins some credit guarantee contracts,and obtains the main body's Optimal decision making.The effects of the initial pledge of the retailer and the guarantee ratio of the supplier on the pledge rate under different bank interest rates were further studied.At the same time,the different guarantee ratios were studied.The research shows that the bank pledge rate increases with the increase of the supplier guarantee ratio.As the initial pledge of retailers increases,the bank pledge rate decreases.Finally,the theoretical results obtained by the case analysis are given.On the basis of considering the random demand,the lower risk control of the retailer and the stochastic fluctuation of the pledge ending price,the optimal ordering decision of the retailer under the inventory pledge financing is studied.Considering the constant and change of the pledge price at the end of the sales period,the optimal order quantity of the retailer is obtained.Under the condition that the price of the pledge is fluctuating randomly,the optimal order quantity of the pledge price in the general distribution and three specific distributions is obtained.Finally,a case study is given to verify the theoretical results obtained.In order to provide some reference and reference for retailers involved in inventory pledge financing.