| With the development of supply chain,the main bodies of competition in the market are no longer companies but competitions among supply chains,the mutual influence between companies on the chain are becoming more and more prominent.However,due to the problems of information asymmetry,some small and medium-sized companies in the supply chain will be discriminated to some extent in the financing market,resulting in their financing constraints.Hence,in order to ease the problems of difficult financing and expensive loans for small and medium-sized companies,the government has made a series of support measures and policies in recent years to actively guide core companies to develop supply chain finance.As a specific application of supply chain finance,buyer’s credit guarantee has rose as a new financing model rise in response to the proper time and conditions.Based on the above background,this assignment will focus on the buyer’s credit guarantee behavior in supply chain,taking Hitevision(a listed manufacturing company)as the example,to study the motivation and effect of the buyer’s credit guarantee.The specific ideas are as follow: firstly,in the theoretical part,sort out the current research status of supply chain finance,external guarantee and buyer’s credit guarantee,summarize related concepts and gather the four theoretical foundations of buyer’s credit guarantee: supply chain management,transaction cost,information asymmetry and risk transfer;Secondly,focusing on the selected case object,this paper carries out a series of research on the implementation process,implementation motivation and implementation effect of buyer’s credit guarantee;Finally,in the conclusion part,the assignment will base on the current situation of Hitevision guaranteeing customers,to come up with relevant policy suggestions,and look forward to future research.The findings of this study:(1)For core companies,buyer’s credit guarantee is a sales business,it allows them to expand their sales as well as speed up the recovery of funds,in all improves the utilization rate of funds;(2)For small and medium-sized companies,buyer’s credit guarantee is a financing channel,they can get loans from the bank as long as they meet the criteria of core companies.;(3)For the whole supply chain,buyer’s credit guarantee on the one hand ease the financing problems of the guaranteed party,and on the other hand expands the sales scale of the guarantor.It dredges the economic lifeline of supply chain and benefits the sustainable development for the long time.The contribution of this thesis is:(1)to study the emerging buyer’s credit financing sales model to supplement the research results of buyer’s credit guarantee in supply chain finance;(2)to conduct case analysis based on the perspective of both sides of the guarantee,which is to expand the existing research perspective;(3)to conduct case studies based on the current epidemic background,which provides a certain reference for enterprises to expand the scale of sales and small and medium-sized enterprises to solve the problem of capital constraints. |
