Research On Credit Risk Assessment Of Automobile Enterprise Based On Supply Chain Finance

The main research object of this paper is the credit risk of enterprises based on supply chain finance.Credit risk evaluation index system of filtering and the composition of the reference supply chain operation mode,on the basis of the traditional credit risk evaluation system,joined in the core enterprise of supply chain,supply chain and macroeconomic indicators,select data from the car industry as the research industry,in order to establish a comprehensive financial model of the supply chain of enterprise credit risk evaluation model.The development of supply chain finance model in the automotive industry in China is more typical.The accounts receivable and prepayments are large,and there are many assets that can be pledged.The industry has formed a business model based on credit sales and advance payment.Vehicle manufacturers occupy the core position,and the upstream and downstream enterprises have great financing needs.Meanwhile,the upstream and downstream supply chain of the industry is mature,which is of great significance to the enterprise credit risk assessment under the supply chain finance of the automobile industry.Due to the characteristics of large data volume and high correlation,the workload in the actual credit risk evaluation is heavy and difficult to operate.This paper selects principal component analysis method and Lasso compression method to select representative indicators that have a significant impact on the default risk,so as to reduce the impact of the multicollinearity.The final index constructs the credit risk evaluation model,which passes the significance test and has practical significance.Through the comparison of the prediction accuracy of the model,it is found that the principal component analysis method is more suitable for the high-dimensional credit evaluation,and the constructed model has better risk discrimination ability and prediction accuracy.Empirical analysis has a high impact on the credit risk evaluation of indicators including the financing enterprise’s debt paying ability,profitability of core enterprises,degree of supply chain cooperation and the qualitative characteristics of financing,etc.,banks should pay more attention to the above indicators when granting credit.The empirical analysis further proves that the credit investigation should be based on the authenticity of supply chain trade and the operation of trade.Finally,this paper puts forward effective suggestions for the above analysis.