Research On J:Supply Chain Financial Inventory Pledge Financing Risk Transmission Mechanism

Supply chain finance has been continuously innovated and developed.In order to effectively solve the problem of capital turnover in the supply chain,the inventory pledge financing model,which is dominated by logistics enterprises,has gradually produced a variety of financing models caused benefits from its advantages of easy operation and cost saving.Under the unified Credit stock pledge financing mode,the logistics enterprise replace the bank as the operation main body of the financing business,this mode brings the profit to the logistics enterprise and also causes the enterprise face a certain degree of risk,therefore the logistics enterprise needs to make the decision based on its own business income and risk.This paper mainly studied the transmission mechanism of J Group inventory pledge financing credit risk and price risk in the supply chain.Analytic Hierarchy Process(AHP)is used to measure the risk of inventory pledge financing faced by J Group,it turns out to be that the main risks are credit risk and price risk,and its transmission mechanism should be studied.On the basis of supply chain finance theory and Inventory pledge financing theory,a double-layer Stackelberg game model was established,the repurchase guarantee behavior of the core enterprise supplier to the borrowing enterprise retailer is introduced,the guarantee degree is described by the repurchase price,and the supervision degree of the Logistics enterprise is characterized by the unified credit mode,This paper studies the transmission of credit risk in the supply chain caused by the constant product price and the change of demand in the single-period inventory pledge financing period to analyze the credit risk transmission mechanism of J Group inventory pledge financing.The price risk is characterized by the fluctuation of yield,the AR-GARCH-VaR model is established,to analyze conduction of price risk in supply chain for the sake of studying the transmission mechanism of the yield risk of J Group Inventory pledge financing.Finally,the risk control countermeasure were put forward according to control the stock pledge credit risk and the yield risk.