Study On Logistics Finance Model Basicd On Notes Receivable

ABSTRACT:With the rapid development of our country’s economy, In china SMEs in the number have become the main economic subject. To some extent, SMSs have become largest employment supporters. However, because of the limitation of bank traditional credit loan business, The financial resources support to SMEs is very different to their position in national economy. With the development of the third party logistics and the trend of innovation in bank services, many logistics financial model which depend on the third party logistics enterprises have appeared. This paper bring forward the problem of illiquid assets feasibility analysis based on transaction cost theory, principal-agent theory, asymmetric information theory. For property channel problem of inventory tying up working capital can design the pledge of warehouse receipts, confirming storage logistics financial model and so on. However, for problem of small logistic companies without inventory and fixed assets, and with a lot of notes receivable assets, This paper propose NRLF(Notes Receivable Logistics Finance) model which large-scale logistics companies play the role of "agent". The evaluation of small logistics company from the large-scale logistics company can give some guarantees to reduce the risk of bank, so as to reduce capital occupancy in logistics channel. Study on how NRLF model affect the all participants in operation decision and cost revenue, and quantitative analysis under the condition of the participants of large-scale logistics.First, Establishing the NRLF operation decision model and solving the model obtain the MATLAB graphics, get result that the Efforts Coefficient of large-scale logistics company can not only influence of small logistics company’s breach probability, also can help banks to avoid the risk of loans, then affecting the bank finance decisions. At the same time the Efforts Coefficient of small logistics company can also affect the earnings and operation decision of large-scale logistics company directly. On one hand, large logistics company should pay a certain efforts cost to supervise small logistics company and receivable notes. On the other hand, when the efforts coefficient exceeds a certain range, the efforts coefficient marginal cost will rise sharply, so large logistics company should control the efforts cost.Secondly, Establishing the NRLF financing frequency game model between large logistics company and small logistics company, by solving the model, Getting the conclusion that the small logistics company’s revenue is decreasing with the number of financing, But large logistics company is opposite. Through the game theory they can get feasible region. When they unite optimization, they can get the optimal solution in system. Getting the compensation scheme Through the Kaldor Hicks improvement theory make all benefit are greater than without cooperative modeFinally, Solving the case based on this two model, and observe the feasibility of NRLF model. Through the comparison between NRLF model and traditional financing model, it is proved that NRLF model is practical and serviceability.