Research On Supply Chain Financial Credit Risk Management Of Nuclear Power Equipment Enterprise

With the advantages of more power generation, less pollution and so on, the development of nuclear power energy has been in the center of national energy strategy adjustment. Meanwhile, the target of production localization of nuclear power generation equipment is also put forward. Under such a circumstance, a multitude of middle and small-sized enterprises have become the suppliers of the equipment.However, the financing difficulties restrict the development of the middle and small-sized enterprises. Thus, the emergence of supply chain finance financing mode yet provides a new way of financing for those enterprises.The operation of supply chain finance in nuclear power generation equipment field facilitates those enterprises to solve the financing problem. However, the healthy development of the financing mode in the field is decided by the controlling of credit risks. Therefore, it is necessary to conduct a research and make an analysis about the credit risks.The thesis first illustrates the relevant concepts and the financing modes about supply chain finance, theoretically explains the causes ofsupply chain finance credit risk basing on the principal-agent theory, the asymmetric-information theory and the Transaction Costs Theory.Secondly, an analysis is conducted on the financing need of middle and small-sized enterprises in the Nuclear power equipment enterprise based on the study of current condition of the supply chain of nuclear power generation equipment and the possible financing modes in the field is discussed. Besides, the credit risks are measured on the basis of recognizing the supply chain finance credit risks in financing enterprises,key companies, supply chain condition and business development environment. During the process, two main approaches of credit risk measurement, Fuzzy Analytic Hierarchy Process and KMV mode, are utilized. Meanwhile, an empirical analysis on these two methods is made.Finally, combined with game theory and contract theory, the extended game model is established to analyze the tripartite game theory of enterprises, banks and financing corporations and control the behaviors which may easily cause credit risks under the example of account receivables financing mode. On this basis, make suggestions to supply chain finance credit risk management of nuclear power equipment enterprise.The results show that it is suitable to adopt the financing modes of account receivable and order in nuclear power generation equipment field.In these two kinds of financing mode, the financing capacity of small andmedium-sized enterprises among nuclear power equipment enterprise is enhanced and the credit risk of Commercial Banks is decreased. So carrying out supply chain finance business in nuclear power equipment enterprises, to a certain extent, can alleviate the financing difficult problem in small and medium-sized enterprises which will has a certain practical significance for promoting the development of China's nuclear power and realizing the home manufacture of nuclear power equipment.