Research On The Loan-to-value Ratio And Buy-back Ratio Of Inventory Pledge Financing Based On The Supplier Repurchase

The inventory pledge financing based on supplier repurchased which development under the Supply chain finance is one kind of new inventory pledge financing model.With the change of market economy competition mode,the traditional competition between enterprises and enterprises was gradually transferred to the competition between supply chains.And bank financing business was facing great challenges.In the inventory pledge financing model based on supplier repurchased,the supplier used strategy of repurchase guarantee to provide credit guarantee for financing enterprise in the supply chain.The strategy of repurchase guarantee improved the credit capacity of borrowing enterprise,reduced the risk of bank loans,and enhanced the overall competitiveness of the supply chain.Therefore,as a new financing business,the inventory pledge financing model based on supplier repurchased has attracted much concern of bank and supply chain enterprise.The paper studied the inventory pledge financing model based on supplier repurchased.According to the relationship between the risk and income of the financing subject,it analyzed operation mechanism of the inventory pledge financing model based on vendor repurchased,established the credit decision model of bank stock pledge financing and the model of the supplier's buy back,discussed the bank pledge rate decision and the supplier buy-back rate decision-making problem.Firstly,we studied the theory of inventory pledge financing model based on supplier repurchased.From the bank's point of view,the dissertation has the study on credit decision of inventory financing in supply chain finance,established the relationship model between corporate decisions and bank credit decisions,determined the optimal loan-to-value ratio,and then discussed its relationship to the supply chain decision-making factors,the disposal value\ the wholesale price and the return rate.Secondly,based on the product trade relations between supplier and retailer in the supply chain,analyzed the profit relations between participating subjects in the inventory pledge financing model,established expected profit model,then determined the optimal buy-back ratio,and analyzed the influence of related parameters on the buy-back ratios.Finally,given the research on the loan-to-value ratio and the buy-back rate under the common buy-back,when the supply chain was coordinated through the buy-back contract,it further researched the profit relations between participating subjects in the inventory pledge financing model,modeled the bank's inventory financing decisions,analyzed the effect of supplier's buy-back policy on loan-to-value ratio,and look forward to provide theoretical guidance to the standardization of the inventory pledge financing under the supplier repurchased.