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论文编号：	7947
作者编号：	2120132889
上传时间：	2015/12/8 21:53:49
中文题目：	JM煤炭贸易公司供应链融资模式研究
英文题目：	The Study on Supply Chain Financing Mode for JM Coal Trading Company
指导老师：	余娟
中文关键字：	煤炭贸易企业；供应链；融资模式
英文关键字：	Coal trading enterprises; Supply chain; Financing model
中文摘要：	2012年下半年以来，在去产能化的不断深化以及企业去库存的双重影响下，我国宏观经济发展的增速出现一定程度的放缓。未来一段时期，经济复苏动力仍然不足，钢铁、水泥、电力等高耗能的基础性行业增速也将保持较低水平。伴随着国家产业结构转型步伐的加快，煤炭需求减少将成为新常态。与此同时，进口煤的冲击带来了煤炭供给方面的过剩，煤炭行业利润增速大幅放缓，煤炭贸易企业的经营销售及盈利也面临着严峻的考验。受到宏观经济下行的影响，商业银行传统信贷业务不良率日益攀升，同样面临着授信政策“调结构”的要求。面对日渐低迷且短期之内难以快速复苏的煤炭行业，商业银行对于向煤炭贸易企业提供融资的态度日益审慎，同时也更加关注煤炭贸易企业融资行为的贸易背景真实性。 供应链融资是将一条完整的供应链中的各个企业视为一个整体，以供应链中业务本身的自偿性为风险控制基础，运用多样化的贸易融资产品组合，为核心企业提供融资的模式。本文以煤炭贸易企业JM公司为例，从其现有传统融资模式出发，分析其不足之处，并结合其供应链中上下游企业的实际情况，为其提供供应链融资模式的优化解决方案，以期实现其财务表现及销售表现的双重优化。本论文可以分为三个部分，第一部分是本文的绪论和供应链融资理论综述，这一部分主要为后文撰写的展开提供社会背景、行业背景及理论准备；第二部分是JM公司概况及现有融资模式分析，这一部分主要介绍了JM公司的概况及财务表现，并对JM公司现有的传统融资模式进行了阐述，指出现有融资模式存在的不足之处；第三部分是JM公司供应链融资模式解决方案的提出，在论证了JM公司供应链融资模式应遵循原则及实施可行性的基础上，有针对性地提出了基于存货、应付账款及应收账款三个科目的供应链融资优化方案，并分析供应链融资优化方案的运用对JM公司及其供应链上下游客户在降低财务成本、改善资产负债表质量、增加现金流量和锁定上下游客户等方面的作用。最后得出论文结论并指出论文不足之处。图8幅，表10个，参考文献35篇。
英文摘要：	Since the third quarter of 2012, due to the dual influences of de-capacity deepening and de-stocking by enterprises, the macroeconomic development of China declined in certain extent. In near future, the economic recovery expectation is still weak; similarly, the electric power companies, the iron and steel enterprises, the cement and other energy-intensive industries will remain a low speed of growth. As a consequence, the declining demand of coal has become a norm status. Taking the expanding condition of coal mining into consideration, there is still a long distance to dissolve excess capacity in the future. China faces a macro economic downturn, and is in a key period of industrial structure transformation nowadays. The profit growth of coal industry dropped sharply with the influence of narrowed demand and coal import oversupply. The same situation happens at the coal trade enterprises. Meanwhile, the quality of traditional credit assets in commercial bank are decreasing comparing to the increasing ratio of non-performing loans. Commercial banks need an adjustment in credit policy as well. They show prudent attitude when offering credit support for coal trade enterprises, while at the same time pay more attention to the authenticity of trade background. Supply chain finance, using a variety of trade finance products combination, which based on self-liquidation as a risk control measure, acting as a financing mode for the core enterprise that takes each enterprise along the supply chain as a whole. This paper starts from the existing traditional financing model in JM Company, a coal trading enterprise, and then analyzing its deficiencies. After considering the actual situation of its upstream and downstream enterprises in the supply chain, some optimal solution of supply chain financing models are provided for achieving its goals of dual optimization in financial performance and sales performance. This thesis can be divided into three parts. The first part is an introduction and theory revision which provide social background, industry background and theoretical basis. The second part is an introduction of JM Company including the existing financing model analysis, pointing out the shortcomings. The third part puts forward some supply chain financing mode suggestions on the basis of inventory, accounts payable and accounts receivable for JM Company, and showing how do the suggestions benefit both JM Company and its upstream and downstream firms in reducing financial costs, optimizing balance sheet, increasing cash flow and strengthening commercial relationships. It comes to draw conclusions and identify shortcomings of the paper in the last chapter. There are eight pictures, ten tables and thirty-five references in this paper.
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