供应链金融融资模式博弈分析_严广乐.pdfVIP

Focus | 特 稿 供应链金融融资模式博弈分析 □严广乐 [ ] 摘 要 中小企业融资难已成为其持续稳定发展的最大障碍之一。供应链金融为破解中小企业融资困境提供了一条新的选择 路径。本文通过对供应链金融系统中的中小企业、银行和第三方物流企业三者之间的相互作用关系的分析，运用博弈 论和信息经济学的理论和方法构建了相应的博弈模型，分析比较了第三方物流企业参与供应链金融系统的两种融资 模式的结果，得出结论:在供应链金融系统中引入第三方物流企业对中小企业扩大融资规模、对银行减小信贷风险、 对物流企业提升高附加值服务水平都起到了积极的作用，从而实现各利益主体的多赢格局。 [ ] 关键词 供应链金融;融资模式;博弈分析 [ 中图分类号] [ 文献标识码] [ 文章编号] ( ) F270 A 1006 － 5024 20 11 04 － 0005 － 05 [ ] “ ”( ) 基金项目 上海市第三期重点学科建设项目 管理科学与工程 批准号: S30504 [ ] 作者简介 严广乐，上海理工大学管理学院教授，博士生导师，研究方向为复杂系统理论与方法、经济金融系统化管理、企业优 ( ) 化管理理论与方法。 上海 200093 Abstract: The difficulties for SMEs to finance have become one of the biggest barriers in their sustainable and stead development． Supply chain financing system provides a new path to solve the financial difficulties for SMEs． In this paper the interactive relation- ， ships were analyzed among SME banks and logistic companies in supply chain financing system; Some games model were built based on the theories and methods of Dice Games and Information Economics; Two cases of the logistic companies participating supply chain financing system were analyzed; The results show that with the introduction of logistic companies ， the supply ， ， chain financing system plays a very positive role in expanding the financing scales of SME reducing the credit risk of banks and enhancing the value － added service levels of logistics companies． As a result ， a win － win situation o