Study On Mode And Analysis Of Accounts Receivable Financing In Small And Medium-sized Logistics Enterprises Under Supply Chain Finance

The rapid and steady development of China's economy in the last forty years has created a large number of small and medium-sized logistics enterprises,as well as a large number of jobs.But small and medium-sized logistics companies need a lot of money to expand the scale of the business to buy large quantities of transportation equipment,leasing space and hiring staff.The pressure on funds is increasing,leading to the bottleneck of development.The shortage of funds and the excess of accounts receivable have limited the development of small and medium-sized logistics enterprises in our country.At the same time,the financing channel of small and medium-sized logistics enterprises is narrow,and new channels are urgently needed to solve the financing problems of small and medium-sized logistics enterprises.In addition,the banking industry has entered the bottleneck period of development.Since the introduction of interest rate liberalization in the country,spreads have been narrowing and competition for homogenization has intensified.Banks that used to survive on big clients must shift their business lines,focusing on large,demanding small and medium-sized enterprises.Supply chain finance is maturing in China,and many Banks have launched supply chain financial products.The use of supply chain finance has opened up a whole new financing model for the financing of small and medium-sized logistics enterprises.With the core business of high credit to obtain low-interest loans,can ease the pressure of small and medium-sized logistics enterprises,can increase Banks' low-risk loans and can extend the repayment period of the core business and improve its capital vitality and achieve win-win results.This paper focuses on the financing of accounts receivable of small and medium-sized logistics enterprises.By collating domestic and foreign scholars on the small and medium-sized logistics enterprises,accounts receivable financing,supply chain finance related literature,and according to the basic theory of supply chain finance,game theory,income and cost theory and other research results,we have established a small and medium-sized logistics enterprises receivables financing model.By studying the needs,benefits and risks of participating actors in game behavior,we constructs a financing model of accounts receivable financing for small and medium-sized logistics enterprises under supply chain finance.This paper mainly studies the game equilibrium problem of this model under different deposit considerations,and compares it by simulation.In this paper,through the construction of small and medium-sized logistics enterprises receivables financing game model,combined with the consideration of the pledge rate,deposit interest rates,logistics business operating costs,manufacturer default rate,deposit ratio,deposit costs,we obtain the optimal solution and financing income of the bank and the small and medium-sized logistics enterprises to participate in the financing.After simulation analysis,the following conclusions are obtained:1.As the first source of repayment,the manufacturer's default rate plays a decisive role in the equilibrium of financing.The increase in the manufacturer's default rate will lead to an increase in the interest rate of the financing loan,resulting in a decrease in the equilibrium financing income of the bank and a decrease in the equilibrium financing income of the small and medium-sized logistics enterprises.2.With the increase in the pledge rate,the bank loan interest rate has risen.Small and medium-sized logistics enterprises in the high financing income at the same time need to pay high financing costs.By comparing the collateral rate and the manufacturer's default rate,it can be found that the impact of the pledge rate is smaller than the manufacturer's default rate.3.Deposit will lead to a better completion of financing,enabling small and medium-sized logistics enterprises to obtain lower lending rates.Taking into account its capital costs,the deposit is more convincing,the bank will be combined with the number of their deposit to determine the level of interest rates.The conclusion of this paper can provide theoretical guidance for the financing of small and medium-sized logistics enterprises and the financing business in small and medium-sized of banks.