Considering The Risk Appetite Of Participants In The Self - Compensation Credit Chain Financing

Small and medium enterprises have made great progress, and made great contributions to the development of the national economy. However, small and medium enterprises are faced with major financing difficulties, which greatly restrict the development of SMEs, and thus affect the performance of the supply chain.Credit chain financing has been widely concerned by scholars. Self-liquidating credit chain financing is combined with the credit chain financing and self liquidating trade. It has specific operation pattern and has great practical significance to solve the financing problem of small and medium enterprises. The results show that after using self-liquidating credit chain financing, SMEs can get rid of the difficulties caused by the lack of own funds.In the self-liquidating credit chain financing, it is assumed that the participants are risk neutral. In fact, the participants are risk preference. In the third section, the method of mean-variance is used to analyze the effect of the retailer’s order quantity and the revenue of the supply chain members. The results show that the participants make different decisions under different risk preferences, and will have an impact on other members of the supply chain.In the fourth part, the retailer is added to the supply chain. We study the effect of the retailer’s order quantity and the profit of the supply chain when the participants have the risk preference in the three-level supply chain.In short, the analysis of this paper provides a certain theoretical reference for the implementation of self-liquidating credit chain financing, which plays a huge role in promoting the financing of SMEs.