The Research Of Logistics Finance Credit Risk Management Based On Game Theory

SMEs are an important force in China's economic and social development.Promote the development of SMEs is an important foundation to maintain stable andrapid economic development and a major strategic task of the people's livelihood andsocial stability. However, more than half of SME financing difficulties will restrictdevelopment for a long time. Especially the financial crisis of2008has furtherexacerbated the problem, many small and medium-sized enterprises facing a crisis ofsurvival due to funding strand breaks. How to help SMEs access to finance, has becomethe focus of attention of the whole society. The emergence of the logistics and financialbusiness, effectively alleviate this problem, widely recognized by the industry andacademia. Logistics finance refers to the banks or other financial institutions andlogistics companies work together to launch a range of financial products designed toaddress the financing difficulties of SMEs in the supply chain bottlenecks. It canachieve the organic unity of the logistics, capital flow and information flow to achievethe win among three parts.Logistics finance is still in exploration stage of development and innovative serviceofferings. There are still many problems, especially the credit risk between thecommercial banks and SMEs which of the main body of the two parties in thetraditional credit business that change into the credit risk among the three subjects:commercial banks, SMEs, the Third-party logistics enterprises in the logistics financialbusiness. Ability to effectively analyze and control credit risk is one of the key tosuccess of the logistics financial business. It focused on the objective level ofassessment and measurement in the past studies of credit risk management. In fact, thesubjective credit risk is more difficult to control. It rooted in the moral hazard caused byasymmetric information. Therefore, using game theory to analyze the credit risks candig deeper into the reason of the nature of credit risk, then control the credit risk moreeffectively.First, this article reviewed the presentations and theoretical of the logistics financial. Second, explored the motivation of the credit risk in logistics finance by usingthe principal-agent theory and identified the credit risk that commercial banks and third-party logistics enterprises may face. Then, by using the game model for empiricalanalysis logistics finance business of the Guangdong Development Bank as example.Finally, concluded remarks and given advices which control the credit risk to thegovernment departments and the three subjects of the logistics finance, and propose thelack of the research and the future research directions.The paper tries to present the theoretical basis by the empirical research of quantifythe game model. Provide a new way of thinking and methods to the logistics finance,thus contributing to the development of China's logistics finance.