CAJ | 학술논문

针对供应链金融创新中季节性存货质押融资业务的重要风险控制指标-贷款额度展开研究,首先借鉴贸易融资中"主体+债项"的风险评估思路,考虑委托监管模式的物流特征及成本收益结构,分析了借款企业的现金流状况及其性质;进而,将已有相关研究关于银行风险中性的假设拓展到银行下侧风险规避,分析了季节性存货质押融资中符合银行风险容忍水平的最高贷款额度.研究表明:下侧风险限制能够有效控制季节性存货质押融资业务的风险,使贷款符合银行设置的风险容忍水平.
침대공응련금융창신중계절성존화질압융자업무적중요풍험공제지표-대관액도전개연구,수선차감무역융자중"주체+채항"적풍험평고사로,고필위탁감관모식적물류특정급성본수익결구,분석료차관기업적현금류상황급기성질;진이,장이유상관연구관우은행풍험중성적가설탁전도은행하측풍험규피,분석료계절성존화질압융자중부합은행풍험용인수평적최고대관액도.연구표명:하측풍험한제능구유효공제계절성존화질압융자업무적풍험,사대관부합은행설치적풍험용인수평.
This paper focuses on loan limit indicator of seasonal inventory financing in supply chain financial innovation. According to the "corporate and debt" method in trade credit and based on the logistic features of consigning-supervision mode and the relevant cost-benefit structure, this paper analyzes cash flow statement of borrowers. Then, this paper assumes downside-risk-averse banks instead of risk-neutral banks discussed in existing literature, and analyzes loan limit consistent to risk tolerance level of banks in seasonal inventory financing. The results show that downside-risk limits can control the risk of seasonal inventory financing and make the loan consistent to risk tolerance level of banks.