Study On Accounts Receivable Finance Of SME Based On Supply Chain Finance Embedded Derivative

Supply chain finance combines logistics services with financial productseffectively, which provides a new way of solving the problem of financing SMEs.That core businesses and independent third-party logistics enterprises beingintroduced into the original system solves the problem of asymmetricinformation between banks and enterprises. Accounts receivable financing is oneof the basic forms of the supply chain finance, which has made some progress inChina, but the degree of development is not enough. In this case, continuing torefine and improve the accounts receivable financing is an effective means toaddress SME financing.This paper first introduces the theory of supply chain finance, financialderivatives, information economics and supply chain finance financing model,which provides a theoretical basis for later analysis and reviews of supply chainfinance, SME financing research and receivables financing, comments theexisting literature, and puts forward the direction of this study; Second, on thisbasis, the paper from both qualitative and quantitative points of view analyzesthe problems of the current supply chain finance SME accounts receivablefinancing. The qualitative point mainly focuses on receivables financing modeland risk identification, while quantitative point builds the bank-enterprisefinance income game model to analyze, then draws that credit problem is stillone of the aspects of improvement of supply chain finance accounts receivablefinancing; Finally, on the basis of analyzing the feasibility and practicality ofintroducing financial derivatives into supply chain finance, this article improvestraditional accounts receivable financing mode by embedding credit derivativeexchange mechanism. Game model is compared before and after improvementfinancing model analysis, which shows that the improved mode is much betterthan the traditional model.