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论文编号：	8883
作者编号：	2120142860
上传时间：	2016/12/9 15:24:35
中文题目：	JT钢管公司供应链金融融资模式与风险研究
英文题目：	The research on supply chain financing model and risk of JT steel tube company
指导老师：	张玉利
中文关键字：	供应链金融；中小企业；融资模式；风险
英文关键字：	supply chain finance; small and medium enterprises (SMEs); financing model；risk
中文摘要：	中小企业在我国国民经济运行中一直发挥着重要作用，但在经营发展中，中小企业自身存在规模小、资信状况差、经营不规范、财务制度不健全、缺乏足够的抵押担保物、抗击风险能力弱等问题。中小企业的内源性融资无法令其扩大再生产和提高竞争力，同时受信息不对称、金融体系及其他外部融资环境的制约，外源性融资可利用渠道少，银行等金融机构实施信贷双重配给，导致中小企业普遍面临着融资困难的现状。在经济整体下行的环境压力下，中小企业因赊销导致应收账款周转率低，经营风险加大，资金缺口进一步凸显。中小企业间的失信导致资金链紧张、偿付能力降低，进一步使银企关系恶化，无法获得银行的信贷支持，成为制约中小企业发展的一大瓶颈。 随着信息技术和物流业的发展，中小企业间的竞争开始从单一竞争向供应链竞争转变。在供应链中，规模大、竞争力强的核心企业在链条中趋于主导，在协调供应链信息流、物流、资金流、商流方面地位显著。而其上下游的中小企业却常常遭遇需向上游核心企业预付账款和下游企业应收账款拖欠的双重压力。对处于供应链中这类弱势中小企业而言，急需一种创新型融资模式去化解这一难题，供应链金融应运而生。 供应链金融依托真实的贸易背景，将核心企业的优良信用扩散至整条供应链，以帮助供应链上的中小企业增信，并获得银行融资支持的目的。本文正是基于以上的研究背景，从中小企业融资及供应链金融的理论研究入手，对供应链金融的概念、特点和发展现状进行梳理，并通过对JT钢管公司的融资需求剖析及融资现状、成因分析，探索出供应链金融这一融资模式对于缓解中小企业融资难题的价值和意义，并比较其对于传统融资模式的优势之处。通过JT钢管公司融资模式选择和具体运用，分析了三种模式的异同及适用性。同时本文也看到JT钢管公司在供应链金融融资实际运作过程中的局限性及各类风险，并有针对性的提出了宏观层面、微观层面、创新层面的一些风险防控措施。最后，是对全文的总结、不足、创新及展望。本文的结论对化解JT钢管公司融资难题，降低其融资成本、促进其健康发展，构建供应链商业生态圈，维护经济持续发展，实现供应链多方共赢提供了理论依据，结论也具有一定的现实意义。
英文摘要：	Small and medium-sized enterprises (SMEs) have been playing an important role in China's national economy. However, in the development of their operation, SMEs have such problems as small-sized, low in credit standing, unstandardized management, imperfect financial system, short of mortgage, weak abilities to resist risks and so on. The endogenous financing of SMEs cannot make them expand reproduction or improve competitiveness. At the same time, due to the information asymmetry and the constraints of the financial system and other external financing environment, the availability of external financing channels, banks and other financial institutions to implement dual credit rationing, SMEs are generally in the dilemma of financing. In the overall downward pressure on the environment, SMEs have to bear the low accounts receivable turnover ratio, therefore the risk of the operation and the financing gap are increasing. The lack of trust between SMEs leads to the tension of capital chain and the decrease of solvency, which further aggravates the relationship between banks and enterprises, and cannot obtain the bank's credit support, thus becoming a bottleneck restricting the development of small and medium-sized enterprises. With the development of information technology and logistics industry, the competition between SMEs began to change from single competition to supply chain competition. In the supply chain, those large-scaled and competitive core enterprises tend to be dominant in the chain, playing a significant role in the coordination of information flow, logistics, capital flow and business flow in the supply chain. And its upstream and downstream SMEs are often faced with the upper reaches of the core enterprises to be prepaid accounts and downstream business accounts receivable arrears of the dual pressures. In the supply chain of such vulnerable small and medium enterprises, calling for an innovative financing model to resolve this problem, supply chain finance came into being. Supply chain finance relies on the real trade background to spread the excellent credit of the core enterprise to the whole supply chain in order to help SMEs in the supply chain increase credit and obtain bank financing support. Based on the above research background, from small business financing and the theoretical research of supply chain finance, supply chain finance, the concept, characteristics and current developing situation and through the JT steel tube company's financing needs and the present situation of financing difficulties, cause analysis, explore its financing model of supply chain finance for alleviating the value and significance of small and medium-sized enterprise financing difficult problem, and compare its advantage for the traditional financing model. Through the selection of JT steel tube company financing mode and the concrete application, analyzes the similarities and differences of three kinds of modes and applicability. At the same time this paper also saw JT steel tube company in the supply chain finance financing limitations and all kinds of risks in the process of actual operation, and put forward the targeted macro level and micro level, the innovation level of risk prevention and control measures.We can see the limitations of the supply chain finance in practice and the various risks that will be faced and put forward some risk control and improvement measures at the macro level, the micro level and the innovation level. Finally, it is the summary, the insufficiency, the innovation and the prospect. The conclusion of this paper provides a theoretical basis for resolving the financing problems of JT steel tube company, reducing their financing costs, promoting their healthy development, building the supply chain business ecosystem, maintaining the sustainable economic development and achieving multi-win of the supply chain. The conclusion also has certain practical significance.
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