Research On The Credit Risk Of Automobile Industry Supply Chain Finance

For regions with relatively backward economies and finances or small and medium-sized enterprises with relatively shallow foundations,financing costs have become a great limitation in development.These years,our country is actively accelerating the construction of the system of inclusive finance,it has turned into an significant way to bring the advantages to the substantial economy.And recently,the supply chain finance starts to combine with newly technology like blockchain.At the same time,our country’s automobile industry is facing structural changes,and new energy vehicles have become a great growing part for auto industry.It’s accorded that over half the automobile enterprise are not that big.In this case,the demand of using scf to get financial support is very large,and the credit risks are higher。Firstly,this article introduce the traditional financial models,then combined with the development trend,this article introduces the credit risks that may exist under different financing models,and further discusses the development status of the automotive industry.First of all,in terms of analyzing risk factors,this paper choose the data from 56 auto companies on the Shenzhen Stock Exchange’s SME sector and Chi Next for analysis from 2015 to 2019,extracts ten main component,and launches the automotive industry based on the logistic model Credit risk probability model,omnibus,Hosmer-Lemeshaw test and accuracy test are performed on the probability model.Next,after regulating the financial data,we regress the Z-score(representing the risk tolerating capability of the chosen companies)with the information disclosure of the chosen companies in supply chain finance,and finally the endogeneity and robustness are tested.One of the principal conclusion of this article is the financial credit risk model,and it’s of appositeness for auto industry supply chain.It is mainly affected by two major partners: financing enterprises and kernel one.On the other side: the influencing factors mainly include profit,debt repayment,turnover,operation and dependence factor.Also,the operation of kernel one reflects the ensemble condition of the supply chain,and make the supply chain better from the side.In terms of studying the correlation between information disclosure and corporate credit risk.After regression,it is obvious that there remains a negative relevance between these two varieties.The higher degree of corporate information disclosure can bring the lower credit risk.In this way,the company in need can disclose relatively more information to reduce their own credit risk.At the same time,we can break out the predicament by improving the level of information disclosure transparency and promoting the deepening development of the supply chain finance.