Research On The Value Chain Financing Of Chinese Cabbage From The Perspective Of Transaction Cost

In recent years,with the improvement of people's living conditions,more and more green pollution-free vegetables are needed.As a famous brand in Shandong Province,Jiaozhou Chinese cabbage is the only Chinese cabbage brand that has both registered trademark,pollution-free agricultural products,green food and organic food certification.In order to meet the increasing demand,Jiaozhou Chinese cabbage is also constantly exploring new ways of production.The development of an industry can not be separated from the support of funds,but the problem of peasant households financing is difficult and the income is very little.These problems include asymmetric information,high transaction costs,low risk resistance and so on.These problems are the main reasons for restricting the development of rural economy.Value chain financing as a new type of rural financial model,it will value chain on the subject into a whole reference system for the rural financial services innovation,reduce transaction costs,improve the efficiency of financial allocation provides a new way of thinking.In this context,this paper takes Shandong Jiaozhou characteristics of agricultural products as an example,to explore the composition of agricultural products,such as the value chain and financing model,and analyze whether the participation of agricultural value chain financing model can increase the income of Chinese cabbage growers,whether it can reduce the transaction costs and whether the conditions of farmers' own borrowing can be improved.It is hoped that by answering the above questions,we will provide new ideas and constructive suggestions to reduce the difficulty of farmers 'financing,reduce transaction costs,improve the efficiency of financial allocation,promote the increase of farmers' income and agricultural modernization.The paper first introduces the composition of the value chain of Jiaozhou cabbage,and divides the value chain financing of Jiaozhou Chinese cabbage into internal financing and external financing,and then analyzes its operation mechanism.Then it analyzes the various transaction cost composition of the value chain of Chinese cabbage and analyzes the constraints of farmers' participation in value chain financing.Secondly,this paper uses the difference-in-differences(DID)model to evaluate the impact of agricultural value chain financing on farmer's income growth.The results show that the farmer 's income growth is significant and the agricultural value chain has a positive effect on the increase of farmers' income.And to obtain the frequency and time of farmers to apply for loans,loans required collateral and guarantees and to get the loan required by the guests of the transaction costs of these farmers have a negative impact on the increase in income,and Value chain financing may save transaction costs.And further analyzes the transaction cost in the value chain financing,and uses the simple mathematical model and the comparative analysis of the internal and external financing cases to prove that the value chain financing can save the transaction cost.Finally,for the current value of the Chinese cabbage chain to give some construction and promotion of policy recommendations.