CAJ | 학술논문

本文应用数理金融法建立无追索保理业务定价模型,对保理业务参数对代偿概率的影响进行了敏感度分析。保理业务的定价不仅要考虑预期损失、成本、费用、收益等因素,还要把基础合同争议作为影响价格的因素。坏账担保率、应收账款的付款期限、应收账款池大小对代偿概率的影响比较明显。因此,为有效降低风险,建议保理商把坏账担保率设定在80%以下,付款期限设定在1年以内,并要求卖方转让全部应收账款。
본문응용수리금융법건립무추색보리업무정개모형,대보리업무삼수대대상개솔적영향진행료민감도분석。보리업무적정개불부요고필예기손실、성본、비용、수익등인소,환요파기출합동쟁의작위영향개격적인소。배장담보솔、응수장관적부관기한、응수장관지대소대대상개솔적영향비교명현。인차,위유효강저풍험,건의보리상파배장담보솔설정재80%이하,부관기한설정재1년이내,병요구매방전양전부응수장관。
This paper creates the non-recourse factoring pricing model based on the mathematical finance,and uses the sensitivity analysis for the influence of the factoring transaction parameters to the compensatory probability.The pricing of the factoring transaction is considered not only the elements of the presumed loss,as well as the cost,the expense,the profit,but also the basic contract disputes.The bad debt guarantee rate,the payment period of the accounts receivable and the size of the accounts receivable pool influences the compensatory probability apparently.Therefore,for decreasing the risk effectively,we suggest factors to decrease the bad debt guarantee rate lower than 80%,the payment period within 1 year,and assign the whole accounts receivables from the sellers.