CAJ | 학술논문

通过贷款融资来解决资金不足问题是现代企业常用的方法之一,文章研究了报童在资金不足时,通过银行贷款来解决资金问题;并假定了当报童销售收入不足偿还银行本息时,付出一定的额外成本（摩擦成本）再融资来偿还银行本息,以及银行根据报童的借贷情况设定利率的反应行为;指出再融资摩擦系数越大,报童最佳订购量越少,期望利润越低,因此减少报童融资成本对增加报童订购量促进报童利润增加有重要意义。更近一步地,研究了报童、银行合作贷款的情况,指出合作贷款能使报童订购量增加,有利于社会的发展。最后通过一个数例来考察各因素对贷款融资的影响。
통과대관융자래해결자금불족문제시현대기업상용적방법지일,문장연구료보동재자금불족시,통과은행대관래해결자금문제;병가정료당보동소수수입불족상환은행본식시,부출일정적액외성본（마찰성본）재융자래상환은행본식,이급은행근거보동적차대정황설정리솔적반응행위;지출재융자마찰계수월대,보동최가정구량월소,기망리윤월저,인차감소보동융자성본대증가보동정구량촉진보동리윤증가유중요의의。경근일보지,연구료보동、은행합작대관적정황,지출합작대관능사보동정구량증가,유리우사회적발전。최후통과일개수례래고찰각인소대대관융자적영향。
Usually,loaning is one way to resolve the capital constraining problem of modern business enterprise.In this paper,we use bank loaning to solve capital-constrained newsvendor（CCNV） problem,and suppose to pay a certain additional cost（attrition cost） re-financing to pay off the bank capital and interest when the newsvendor＇s revenue is not enough,and also research the bank charging an interest rate according to the newsvendor＇s loaning.We prove that the re-financing attrition coefficient increase more the newsvendor ordering quantity reduce sharper and the expectation profits become less,so cutting the attrition cost is meaningful to increase the newsvendor ordering quantity and the expectation profits.Furthermore,we give the newsvendor and bank cooperating loan schedules,and point out that the cooperating loan schedules can increase the newsvendor ordering quantity in favor of the developing of society.Finally,we numerically investigate the influence of each factor to our problem via an example.