| In recent years, the financing difficulties of the Chinese small and medium enterprises (SMEs) have become an heated topic. A series solution to the financing difficulties has been developed by the professionals around the world. Among these methods, the innovation and practice of supply chain finance work effectively on the financing difficulties of SMEs.The core business of supply chain finance is inventory financing, which has developed unprecedented in our country. However, due to diversified participants, the binary-contacting pattern has changed into a multi-contacting pattern. According to this series change, the risks comparing with traditional credit risks would be subjected by different affects from various behaviors of participants during making transactions between each other. Furthermore, it will come out some new characters of risk and display some relative complexity, correlation and conductivity.Risk identification, as an important link of risk management, has played a key role in whether the innovation of financing products is successful or not. The previous studies for the risk-factors identification of supply chain finance were almost based on the risk classification of 《Basel III》. The studies just always analyze by the angle of single risk factor or single party rather than by the angle of whole system which includes all of participants, and those studies was lacked of strong empirical researches.Based on the previous description, first, this paper detailed analyzed the operating process of patent commission services in inventory financing activities and the behavioral strategies of multi-party participants. Second, by criticizing the previous studies of the cause of risk of inventory financing and based on the entirely new angle of risk identification of multi-party transactions, the paper was devoted to find out the structural elements and measurement factors of the inventory business’multiple various behaviors and the inventory business’behaviors characteristics in transactions, and to build a theoretical model of supply chain finance participated in the multi-party transaction behaviors, furthermore to systematically identify the potentially risk variables between transactions by different parties. According to this view, this paper was started with theoretical researches to build the scientific indices system of inventory financing by handing out questionnaire surveys into the senior or higher level national commercial banks and employing SPSS18.0software to inspect the reliability and validity of the questionnaires; and using principal component analysis to extract and interpret the key risk factors. Finally a inventory business risk evaluation index system was established. At last, we obtain the mutual relationship among the risk factors by the following steps that introducing into SEM model, providing the assumption of the conductive relationship between each party, making use of the data from the questionnaire and then integrating these data by AMOS7.0, and revising initial model.Studies approved that, as an exogenous variable, the risk of multi-party transaction behaviors could indirectly work on multi-default risks by influencing the inner transactions of supply chain. Besides, the dealing risks of SMEs would raise a great and indirect influence on multi-default risks by the dealing risks of3PL (3rd Party Logistics). Therefore, when creating credit extension loan for SMEs, banks assessing enterprises’default risks should not only focus on the affairs of business, but also pay more attention on the reality of enterprise’s trade situations of the whole supply chain and consider the overall analysis of the transactions situations. It will help to supply some guidelines before Chinese financial institution and logistic enterprises assessing the default risks of counterparties. |
PDF Full Text Request