The Research On Warehouse Receipt Financing Risk Prevention

Financing problem has plagned the majority of small and mediumenterprises(SEMs),as a new idea to solve this problem, warehouse receipt financing’sinnovation is that it actually starts from SEMs, making full use of the advantage thatSEMs have more current assents. At the same time, it takes into account the interestsof3PLs and banks, mobilizes their enthusiasm, warehouse receipt financing hasbecome the new profit growth of3PLs and the new whereabouts of loans, and it isdeveloping-rapidly.Warehouse receipt financing is still in its infancy in China and there are manyproblems in the progress of development. Among them, risk problem is the main fieldto affect the application and playing a more important role in economy.This paper researches on the risk problems in warehouse receipt financing,introduces some common models of warehouse receipt financing, and puts the risksinto four kinds: operational risk, credit risk, legal risk and environmental risk. Amongthem, the former two are the main. Basing on the analysis of the reason why the riskshappen, this paper stands on the view of3PLs, banks, government, legislation andinsurance market, proposing some specific prevention measures.This paper argues that the pledge rate’s determination is extremely important inrisk prevention. The low level of3PLs, the poor social credit and the defect of law areexisting state of affairs and it is hard to change in a short time. The pledge rate’sdetermination is really a method to play a role in warehouse receipt financing riskprevention. So in this paper, we calculate the pledge rate using VaR, related indicatorsprove that it is a safe and stable way.The pledge rate’s determination is mainly depend on the price volatility in thispaper, actually ignore the effect of credit factor, this is a deficiency.