| Currently,china’s economy is undergoing a depth adjustment period.Facing of the real economy is shrinking,small and medium enterprises into business difficulties.Therefore,companies,banks and others have layout of supply chain finance.The state has repeatedly issued a number of policies to support the development of the supply chain financial.It is sufficient policy support to promote the various physical capital and virtual capital to actively participate in the tide of supply chain finance.Based on the background of the times,this paper use the game theory to analyze the operation of the inventory financing model of supply chain finance.And on the basis of the interests of policy makers to make strategic choices,which is helpful to solve the financing problem of small and medium-sized enterprises in our country,which is helpful to further enhance the overall competitiveness of the supply chain.And it is of great practical significance for the comprehensive development of china’s supply chain finance.This paper combines the theory with practice,qualitative analysis with quantitative research,and the inventory financing model of supply chain finance is taken as the research object.First of all,based on the theory of supply chain finance,this paper describes the problem of capital flow gap in the operation of small and medium sized enterprises,and puts forward three typical financing models of supply chain finance and their differences.Secondly,the paper discusses the main body and the risk of the inventory financing model of supply chain finance,and puts forward the problems existing in the current inventory pledge financing business.Thirdly,through the construction of Stackelberg game model,and the use of backward induction method to study reorder decision of financing enterprises and the decision-making of the commercial banks’ best rate.It is necessary for commercial banks to effectively control the credit risk.Therefore,this paper extends the optimal decision-making of commercial banks under downside risk aversion.On the basis of analyzing the downside risk aversion of commercial banks,the paper makes further study on the decision-making of the com-mercial banks’ best rate under the condition of the downside risk aversion considering the response of the financing enterprise and without considering the response of the reorder of the financing enterprise.The research shows that,the re order decision of financing enterprises is in line with the interests of commercial banks considering the response of the financing enterprises.And,decision-making of commercial banks are in line with the actual situation.In the case of supply chain finance inventory pledge financing business,this paper discusses the optimal reorder quantity decision of B financing enterprise and the best rate decision of A commercial bank.Furthermore,the paper studies the relationship between the financing interest rate,the credit risk of the enterprise,the initial inventory and the optimal decision.The research shows that,there is a positive correlation between the initial inventory and the optimal decision,while the credit risk of the financing enterprise is negatively correlated with the optimal decision and the financing interest rate. |
