Systematic Risk Research Of Supply Chain Finance In Pta Industry Based On System Dynamics

There are many SMEs in the middle and down stream of the PTA industry chain.Due to the characteristics of the industry,the SMEs have a lot of financial pressure in the process of purchasing raw materials,investment and marketing.At the same time,they are facing with various risks such as market price fluctuation risk,corporate operating rate risk,and the risk of market demand.Supply chain finance(SCF)can solve the problem of financing difficulties for mid-downstream companies in the petrochemical industry,but also bear a lot of risks.At the same time,the increasingly active PTA futures market also provides effective means for manufacturers to cope with price fluctuation risk.In this paper,we simulated the use of supply chain financing and PTA futures hedging in the PX-PTA-PET industry chain.And we have conducted sensitivity analysis for different risk scenarios in order to figure out the impact of different risks on the financial status of SMEs.Based on this,we gave some advice to financing companies and banks for dealing with different risks of PTA industry chain...