| In the context of comprehensively promoting rural revitalization and accelerating the construction of a strong agricultural country,farmers’ professional cooperatives,as new agricultural business entities,have the role and great potential to drive farmers,dock enterprises and link markets in promoting the development of agricultural scale.At present,most cooperatives have problems such as insufficient asset size,low credit rating and lack of financial information,which make it difficult for them to obtain bank loans and financing,and largely restrict the development and growth of farmers’ professional cooperatives.Therefore,new financing models are urgently needed to alleviate the financing constraints of farmers’ professional cooperatives.Taking Chishui City,Guizhou Province,as an example,this paper investigates the factors affecting the access to financing from the perspective of supply chain finance,which is of great significance to alleviate the financing difficulties of farmers’ professional cooperatives.First,based on theories such as information asymmetry theory and transaction cost theory as the theoretical basis of this paper.The basic connotation and intrinsic attributes of farmers’ professional cooperatives and supply chain financing are defined to lay the theoretical foundation for the subsequent study.Secondly,based on the field survey,we combine secondary data and relevant literature to sort out the development and financing status of farmers’ professional cooperatives and analyze the causes of financing constraints.Then,we analyze the realistic basis of Chishui farmers’ professional cooperatives for supply chain finance model,emphasize the necessity of integrating farmers’ professional cooperatives into supply chain finance,and explore the supply chain finance model and characteristics of Chishui farmers’ professional cooperatives.Again,drawing on previous scholars’ research,five aspects of farmers’ professional cooperatives’ qualification,leading enterprises’ qualification,supply chain operation status,cooperatives’ product quality,and external factors are constructed as influencing factors of farmers’ professional cooperatives’ financing accessibility.Finally,the research hypothesis and conceptual model are proposed and empirical analysis is conducted using Spss and Amos software to demonstrate the factors influencing the availability of financing for farmers’ professional cooperatives.Through the empirical analysis,the following main conclusions are drawn:(1)The qualification of farmers’ professional cooperatives,the qualification of leading enterprises,the operation status of supply chain,and the quality of cooperative products have significant positive effects on the access to financing of farmers’ professional cooperatives,while external factors have no significant effects on the access to financing of farmers’ professional cooperatives.(2)In order of importance,the following factors have a significant impact on the access to financing of farmers’ professional cooperatives: qualification of farmers’ professional cooperatives,qualification of leading enterprises,operation status of supply chains,and quality of cooperative products.(3)Among the observed indicators,the profit level of farmers’ professional cooperatives,credit rating of leading enterprises,transaction frequency and intensity of professional cooperatives and leading enterprises,price stability of professional cooperatives’ products and their liquidity have more significant effects on the availability of financing from the perspective of supply chain finance of farmers’ professional cooperatives in Chishui.Based on the above findings,this paper proposes countermeasures to enhance the development capacity of farmers’ professional cooperatives,give full play to the role of leading enterprises,improve the competitive vitality of supply chain,and strengthen the risk prevention management of agricultural products to promote more efficient and operable financing of farmers’ professional cooperatives. |
