应收账款融资模式下供应链金融的成本优化分析.pdfVIP

第 19 卷第 1 期 Vo l. 19 No.1 工业工程与管理 2014 年 2 月 lndustrial Engineering and Management Feb. 2014 文章编号:1007-5429(2014)01-0079-06 应收账款融资模式下供应链金融的成本优化分析 辛玉红，李小莉 (五邑大学经济管理学院，广东省江门市 529020) 摘要:从信息不对称角度构建了基于应收账款融资模式的供应链金融模型，比较分析了应收 账款模式与传统模式下供应链各主体的效益差异，讨论了应收账款模式在降低各方成本，提高收益 方面的优势;最后，通过算例分析进一步论证了模型的有效性。研究表明，应收账款模式下中小企 业供应商信息分享水平的提高，使得银行的贷款利率降低，融资成本减少，收益增加;同时，制造商 增加了外部收益;对银行而言，审核成本的降低以及贷款数量的增加同样使其收益提升，从而实现 了供应商、制造商以及银行的多方共赢。 关键词:供应链金融;应收账款融资模式;成本优化 中图分类号: F272.3 文献标识码:A Analysis on Cost Optimization of Supply Chain Finance under Accounts Receivable Financing Mode XIN Yu-hong , LI Xiao-li CSchool of Economics and Management , Wuyi University , ]iangmen 529020 , China) Abstract: From the perspective of information asymmetry ,the model of supply chain finance was bui 1t based on accounts receivable financing. The cost effectiveness differences of various trades in the supply chain between tradition and accounts receivable financing model were analyzed comparatively , and then the advantages of accounts receivable financing model on reducing the cost and improving the yield were discussed. At last ,the validity of the model was demonstrated further through an example. The resu 1ts showed that the supplier improved information sharing under accounts receivable financing model which led the bank to reduce the lending rate ,in tum resulting in a reduction in financing costs. At the same time ,the manufacturer obtained extemal incomes. For the bank ,the reduction of audit costs and the rise of loan amount led to