Research On Risk Of Logistics Enterprises Under Inventory Credit Model

As an emerging business, logistics finance is highly concerned by logistics business, financial companies and banks. Inventory credit model is one of the main operations of logistics finance. Logistics finance provides a solution to financial enterprises and logistics enterprises with financial difficulties. which may do some favor in broadening the business scopes of logistics companies, lowering financing cost for the financial companies, solving lending problem and reducing the lending risk for lenders like banks.Based on the risks that logistics companies confront, using the risk management theory and game theory to analyze the definition of the inventory credit model, the operation procedure and risks. The risk characteristics and risk management processes are analyzed, from the perspectives of pledge risks, handling risks, monitoring risks, credit risks, laws and environment risks. A risk evaluation indexes system is composed. By using the Analytic Hierarchy Process and practical cases, the weights of different risk indexes have been computed. Therefore, in the process of risk management, the relation and weights among different risk indexes should be considered comprehensively, then, the risks can be prevent and controlled efficiently.As for the credit risks between banks and logistics companies, the expected rates of return and expected cost rates are set to be the objective function. By analyzing the relation between logistics companies' mortgage rate and the bank loan rate, the risks that the logistics companies confront are analyzed. As it shown in the results that, to the bank loan rate, marginal rate of substitution of logistics companies' mortgage rate decreased when the subjective default rate increased. Subjective default rate of the logistics companies is directly influenced by its efforts.As for the game risk between logistics company and financing company, under the assumption of bounded rationality of the logistics company and lending company, For risk game between logistics companies and financial companies, from the rational prospective of logistics companies and financial companies, parameters like the benefits of cheats and supervisory cost have been introduced and a risk game model was established by using game theory and decision equilibrium theory. The results show that probability of the supervision logistics companies put on financial companies is related to its benefits of fraud and faith, the cost of beautify, as well as, the loss of fraud. The researches, which have been done in this paper, may be the theoretical basis and practical direction for risk management of inventory credit model, and offered some reference meanings.