Research Of Supply Chain Financing's Digesting For Asymmetric Information

Small and medium-sized enterprises usually exist such problems as lack of credit, lack of operate system standardization, lack of mortgage assets ,and also usually have the opportunism behavior of break promise.Those above mentioned serious asymmetric information lead the bank dare not lend money to small and medium-sized enterprises. As an innovative financing method, supply chain financing is a new way which modern commercial bank use.They revolve around the asymmetric information problems between financing subjects,put small and medium-sized enterprises in the supply chain's wide background,filter and verify through its upstream and downstream's trade relations,prevent information's omit,distort,even false.Through supply chain's binding,pribe,dilute,migrate,block up and intercept asymmetric information,It uses systematic operation method to reveal and correct asymmetry information in details, to clear up bank-enterprise's asymmetric information, guarantee bank-enterprise's cooperation smoothly running.This passage combines both home and aboard's existing fingings, considers that supply chain financing's successful key point is it solved bank-enterprise's serious asymmetric information.This article used Game Theory and other theroys researched that in supply chain the Third party logistics and core enterprises'clearing up for bank-enterprise's asymmetric information,analyses their playing role's mechanism, and does some corresponding analysis according mathematics model. Research shows that supply chain financing method can clear up bank-enterprise's asymmetric information effectively,ease the problem of small and medium-sized enterprises'financing difficults.Specific conclusion as follows:(1)In the supply chain financing method,bank,the third-part logistics and small and medium-sized enterprises have a double layers principal-agent relationship,the third party logistics supervise the movable property and supply credit guarantee for small and medium-sized enterprises,ease asymmetric information between bank and small and medium-sized enterprises efficiently.(2)The core enterprise firstly rely on its core position and strength in the supply chain,filter and supervise the supply chain's members,and develop its information platform's effect,increase the credit market's transparency. Secondly, core enterprise and small and medium-sized enterprises carry out credit binding, bulit up credit chain,increase small and medium-sized enterprises'credit rank.decrease loan transaction cost,increase small and medium-sized enterprises'default cost,these methods eased the asymmetric information between bank and small and Medium-sized enterprise effectively.