Research On The Choice Of Accounts Receivable Financing Mode For NJ Pharmaceutical Company

Accounts receivable financing is an innovative financing way for enterprises with financing needs to obtain funds by transferring accounts receivable.In recent years,with the promotion of government policies,many financial institutions have continuously improved their accounts receivable financing business.At present,accounts receivable financing has developed into a more mature financing mode,which has solved the financing problems for many enterprises.For pharmaceutical business,capital is the key to maintain daily operation.However,due to the high proportion of accounts receivable in pharmaceutical business,most of the current funds of enterprises are occupied by accounts receivable,which makes it easier to fall into the plight of capital shortage.In recent years,with the deepening of the health care reform policy and the intensification of competition among pharmaceutical business,many enterprises have expanded their sales,resulting in a further increase in the total amount of accounts receivable.At the same time,in order to respond to the government's call and meet their own development needs,enterprises need more and more funds.Because pharmaceutical business are capital-intensive enterprises,there are fewer collateral items and fewer financing channels,the traditional financing mode is usually difficult to meet the growing financing needs of enterprises.Accounts receivable financing can solve the problem of many accounts receivable and difficult financing.Starting from broadening the financing channels of pharmaceutical business and solving the financing difficulties,this paper analyses the selection of current accounts receivable financing mode in order to provide the optimal financing mode for pharmaceutical business.This paper combs and analyses the relevant literature on accounts receivable financing,combines MM theory,information asymmetry theory and orderly financing theory,and constructs an evaluation system for the selection of accounts receivablefinancing mode for pharmaceutical business,so as to select the optimal financing scheme for enterprises.Firstly,by sorting out the literature and summarizing the existing research results and the main theoretical basis,this paper provides research ideas for the construction of the evaluation system of accounts receivable financing mode.Secondly,taking NJ Pharmaceutical company as an example,aiming at its financial situation and financing needs,this paper demonstrates the feasibility of carrying out accounts receivable financing around its characteristics of high proportion of accounts receivable,internal and external environmental conditions,etc.Thirdly,this paper makes a comparative study of the three kinds of accounts receivable financing modes,and considers the evaluation results and effect prediction,so as to select the optimal financing mode for NJ Pharmaceutical company.Finally,it summarizes the experience and Enlightenment of accounts receivable financing,and provides some reference for follow-up research and other enterprises in the industry.