Pricing Analysis Of Bank Financing Products Based On Supply Chain Finance

Supply chain finance is an effective way to solve the financial problem of SMEs,and a reasonable price is the precondition to ensure the normal operation and promotion of supply chain financing products.Supply chain finance business in China started relatively late,and is inexperienced in product pricing,thus making all participants' benefit maximize with the controllable risk is difficult,which blocked the financial innovation's development.The paper analyzes the supply chain finance product's characteristics,then doing research into liquidity value added and the whole supply chain credit risk,and giving a pricing model that making the system's benefit maximum.Firstly,connecting the traditional pricing model with the option pricing model to depict the liquidity value added of the object,then getting the base interest rate of the financing product.Holding American put option is used to describe the financing behavior of the SMEs,and using Black-Scholes model to price the option,then indicating that the liquidity value added of supply chain finance products is embodied in the risk-free interest rate and the undulation of risk premium.Then using triangular fuzzy number to depict the undulation,so that getting a fuzzy base rate range with confidence coefficient.Secondly,connecting complex network with the credit risk of each enterprise to describe the credit risk of the whole supply chain,and getting the interest rate adjustment item of financing product.Proposing a supply chains networks evolving model based on local area seeking and mutual selection to simulate the real supply chain,then getting the contribution degree of each enterprise that to the whole supply chain.Combine the contribution degree with the credit risk of each enterprise to get the interest rate adjustment item that based on supply chain credit risk.Thirdly,combining the base interest rate and the interest rate adjustment item,then utilizing the used reality and theoretical study,so that the supply chain finance product can be priced reasonably.Lastly,taking accounts receivable financing as an example,the paper does experimental test about the pricing model to introduce how to use the model to price,so that we can help the bank and SME maximize their interests while lowering the risks.In a word,this paper combined option pricing theory and complex network theory in the pricing of supply chain finance,enriching the bank pricing theoretically and provide a reference for bank pricing.