Research On The Financing Price And Income Distribution Of Prepaid Accounts In Supply Chain Finance

In recent years,as the financing difficulties of SMEs become more and more urgent,banks and financial institutions has been “forced” to innovate financial products.How can they help them overcome these inherent disadvantages including insufficient funds and low credit rating? Commercial Banks have innovated new financial products-supply chain finance,which is a great way to solve the financing difficulties of SMEs.Prepayment financing mainly solves the financing difficulty of SMEs downstream of core enterprises.In the last century,supply chain finance was in its infancy,and the prices of financial products of banks were basically regulated by the government.In the market interest rate of today,how to formulate the financing price is also an urgent question for commercial banks.The decision of the financing price of the prepaid account financing and the influence of the financing price on the income distribution of the prepaid account financing participants have put forward a new direction for the research of supply chain finance.This dissertation takes prepaid account receivable financing system made up of the SMEs,the core enterprises and the manufacturer as the research object,investigates of decision-making of enterprise,and constructs some prepayment financing models those are closer to the operation of relevant enterprises.The research covers the ordering decisions of SMEs downstream,the decision of the interest rate of commercial banks,the income distribution of the prepayment financing system,etc.In this way,the existing researches are further expanded from multiple perspectives.The specific research content is as follows.1.Study the decision-making and distribution of benefits of prepaid accounts financing in different modes.First,we build the prepaid account receivable financing model in which the SMEs is one-off delivery and its default is determined by market demand uncertainty,and find that factors affect the financing price include not only the commercial banks but also the factors in the supply chain operation.Furthermore,we construct the prepaid account receivable financing model for secondary delivery(margin pick-up)of SMEs,and find that the effect of the financing price and margin amount on the income distribution of the participants in the prepaid accounts financing.2.Study the price game and income distribution of prepaid financing under the game theory.First,the game model of non-cooperative prepayment financing game isconstructed by three parties involved in the game of commercial banks,retailers and manufacturers.And the scope of the financing interest rate in the non-cooperative state is analyzed.In this scope,the non-cooperative game can be improved by Pareto.Then,according to Shapley's profit distribution principle,we calculate the profits of all the parties who pay the advance account financing under the cooperative game,and draw the conclusion that the income of the non-cooperative game is less than that of the cooperative state,and the cooperative game state can improve the retailer's income.The research and its achievements mentioned above not only enrich the content of prepaid account receivable financing,and result of theory research and the reality is more consistent with these theories can be better to provide decision support supply chain operation of the financial management practice.