Research On The Credit Risk Evaluation System Of Inventory Financing Model

G20 summit held in Hangzhou approved G20 SME financing action plan implement framework,which put forward the view of improving the credit system of SME and encouraging the mode of chattel mortgage financing and other reform measures.Inventory financing model is one of the mainstream models of supplying chain finance business,which is a kind of financing business based on chattel pledge.It has practical significance to study the financing mode of inventory pledge to help SME solve the financing problems.This paper firstly uses the principal component analysis to evaluate the credit risk of SME in Inventory financing model,and then uses the backward induction to find the equilibrium solution of the interest rate decision model for commercial banks based on different levels of performance.With diversified SME,the former plays a role in identification,while the latter plays a role in providing differential services.The integration of these two methods is a support policy for high-quality SME,a way of profit growth for the core enterprises and logistics enterprises,and an effective way to avoid risks for commercial banks.This paper begins with the analysis of the financing difficulties with small and medium-sized enterprises in China,which is a frequently asked question.After that,this paper introduces the Supply Chain Finance,the once popular global financial service model,and then describes the Inventory Financing Model(one of the three kinds innovation mode in supply chain finance)and its credit risk evaluation system's characteristics and advantages.According to three principles,this paper selects 19 indicators from the macro-environmental factors,the basic ability of SME,the basic ability of core enterprises,the status of pledged goods and the operation of supply chain as the basis for evaluating the credit risk.And then the principal component analysis method was used to construct the evaluation system.After that,this paper uses backward induction to calculate the equilibrium solution of the Stackelberg model and the double Stackelberg model,which helps to obtain the best lending rates for commercial banks in the above two models.Finally,empirical research is shown with the help of SAS(version9.2).This paper makes credit risk assessment for 194 commodity listed companies,and compares the 20 risk-related enterprises with the results of flush software evaluation.The results shows that credit risk evaluation system is more accurate and effective.What's more,this paper calculates the equilibrium solution of the double Stackelberg model when the performance probability gets 0.75 through numerical simulation.This proves that the involvement of core enterprises in the inventory financing model can prosper the financing market demand of the small and medium-sized enterprises.Based on the empirical results,this paper puts forward some suggestions to the commercial banks at the end,in order to improve the financing situation of SME.