Credit Risk Assessment Of Supply Chain Pool Financing Based On Fuzzy DEA Method

Limited access to financing has been for the bottleneck and constrained the development for Small and Medium Enterprises (SMEs) for a long time. It is clearly pointed out in the 12th five-year plan:we should establish solid finance service and credit assurance for the SMEs, improve the loan scale and proportion for SMEs, and broaden out direct financing channel for SMEs.The main reasons for SMEs’ limited access to financing are the deficiency of SMEs’ own credit and unreasonable credit risk evaluation for SMEs. The proposed Pool Financing based on Supply Chain Financing is a kind of financing business developed for SMEs specially by Shenzhen Developmeng Bank (SDB). Under such financing model, SMEs could reduce its credit risk with the credit assurance by Core Enterprise and increase its opportunity for financing;Banks could transfer its credit risk to Core Enterprises; Core Enterprises could solve its own difficult fund problems by extrict its supply chain partners from difficult financing position.It is suggested that banks transfer their pool financing style from positive to inniative, and change the 1+N model into 1+N+n model. Based on such suggestion, index system for credit risk evaluation under 1+N+n pool financing model and a two-stage model for evaluating the related SMEs’ credit risk level with fuzzy DEA are built.This paper is composed of 7 charpters:Charpterl introduces the problems to be researched by analyzing the present difficult financing status of SMEs, and points out that SMEs can break credit bottleneck with the help of Supply Chain Financing and Pool Financing and solve the financing problems. This charpter also explains the research content, research methods and significance briefly, and concludes the innovations be advanced.Charpter2 introduces basic knowledge and reviews literatures about Supply Chain Financing, Pool Financing, Data Envelopment Analysis (DEA), Fuzzy DEA, Principal Component Analysis (PCA), PCA-DEA and credit risk evaluation for SMEs, analyzes the feasibility of applying DEA method into SMEs’credit risk evaluation under Pool Financing.Charpter3 constructs the index system under Pool Financing for SMEs’ credit risk evaluation by analyzing the risk origins. Such index system is the basis of input and output variables for evaluation models in next charpter. The index system includes:the whole economy and industry situation, the condition of SMEs, the status of Core Enterprises and the state of the whole supply chain.In charpter4, we conduct credit risk evaluation by two-stage for SMEs under 1+N+n pool financing model on the basis of established index system in last charpter. First stage, build fuzzy DEA model based on independent Sub-Systems; second stage, combine PCA with DEA for reducing variables and simplifying the solution of evaluation problem.Charpter5 takes the real estate industry as research object, analyzes the real data mainly from Group A’s internal Information System for Suppliers. The results obtained could be the financing references for banks, and SMEs could improve their credit risk level according such results.Charpter6 briefly summarizes risk control method and process for Pool Financing based on the former charpter’s analysis results.Charpter7 is the conclusion for this paper. It summarizes the research conducted in this paper and point out the further research area and problems.More than one subjects such as mathematical programming theory in operation research, mathematical statistics, finance and banking are involved in this paper. It also combines the thought of management science with the technology of computer science, adopts the research method of "put forward problems- analyse problems-construct models for solving-positive annlysis". The research results not only contribute to the innovation of efficiency evaluation for independent Sub-Systems, but also help the banks, SMEs and Core Enterprises to avoid their risk respectively.