【作者】 谢洪财；

【导师】 刘轶；

【作者基本信息】 湖南大学 ， 金融学， 2014， 硕士

【摘要】 没有足够的信用评级和不动产或第三方保证作担保,是中小企业融资难的主要原因。为有效解决这一问题,近些年来我国兴起了库存商品融资业务,并逐渐成为不同行业之间业务整合、集成运行的典范。尤其是由融资企业、物流企业和银行共同参与的库存商品融资是指企业向银行出质原材料、半成品以及库存产品等抵押品以获得银行贷款,同时由具有合法保管动产资格的第三方物流企业对抵押品进行监督管理的业务活动。这对中小企业突破资金“瓶颈”、成功实现了物流与资金流的整合具有重要推动作用,同时对促进第三方物流和中小企业的发展方面具有重要的现实意义。因而,库存商品融资业务在我国有着非常广阔的发展前景。目前关于库存商品融资的风险管理研究主要是基于其业务内涵和信贷合约设计等方面研究,而关于库存商品融资中银行如何更深入参与并发挥自身作用和优势、如何更好实现对库存商品融资的监管以及对风险的识别和规避等方面的理论研究较少,仅限于对其参与优势及作用的论述。本文的研究正是基于这样一个切入点,尝试从商业银行的角度分析库存商品业务的运作模式、可能遇到的风险的识别以及相关的控制方法,并从当前库存商品融资业务中存在的问题以及对这融资业务的一些思考出发,从立法层面和实务层面全方位地提出一些想法和对策建议。本文首先主要介绍了选题的背景和意义、研究内容及所采用的研究方法,同时简述了本文的创新点及不足之处。接着,从库存商品融资概念和特点、种类、业务操作流程和开展库存商品融资的意义四个方面展开了对库存商品融资业务的阐述,然后分别从国内和国外视角介绍了库存商品融资的运作模式。其次,对库存商品融资业务的发展及现状进行考察,并尝试指出了当前我国库存商品融资存在的问题,即缺少最优的整套业务方案、信息共享不够充分和缺乏服务整个供应链的能力。然后,指出库存商品融资风险在“潜伏期”、“发作期”、“恶化期”三个不同阶段的识别,并基于简明科学性、系统整体性和可操作性的评价指标选取原则,从宏观与行业系统风险、供应链系统风险、信用风险、存货担保变现风险以及操作风险等出发,构建了库存商品融资风险评价指标体系。紧接着,给出了库存商品融资风险综合评价的具体步骤,并以B企业作为案例进行了多层次目标线性加权函数综合评价。最后,从加强政策和法律环境风险管理、建立并完善信用风险管理体系、建立应急反应机制和信息共享制度、控制供应链系统风险和增强内部风险管理意识五个层面对库存商品融资风险的防范提出了一些思考和建议,从准入体系风险控制、合约设计风险控制和执行过程风险控制三个层面提出了对库存商品融资险的控制。希望本文能够为商业银行更好完成对库存商品融资业务的实际监管工作和进一步研究提供一些参考。更多还原

【Abstract】 No qualified credit rating and limited collateral secured by real estate or a third-party guarantee are the main reasons causing the financing difficulties of SMEs. To effectively solve this problem, in recent years inventory financing business has risen up in china, and gradually becomes the model of business integration, integrated operation between different industries. Especially the inventory financing business run by finance companies, logistics companies and banks refers to the business activities, an enterprise pledging raw materials, semi-finished products and inventory such as collateral to obtain bank loans, while being under the supervision and management of third-party logistics enterprises with lawful custody of chattel qualified collateral. It not only plays an important role in promoting the breakthrough of funding "bottleneck" and the successful implementation of integrated logistics and cash flow, but also has practical significance in promoting the development of third-party logistics and SMEs. Thus, inventory financing business in China has a very broad prospect.Current research on inventory financing is mainly based on the study of its business connotation and the design of credit contracts, while the theoretical studies about how banks exert their own functions and strengths adequately, how to improve regulation of inventory financing business as well as risk identification and avoidance, etc. are less and limited to the discussion of advantages and effects. This study starts from the point mentioned above, trying to analyze the business mode, possible risk identification and related control method of the inventory business from commercial bank perspective. Meanwhile, according to the existing problems of current inventory financing business and some thoughts on the financing business, we put forward some ideas and suggestions from the aspect of legislation and practice in all directions.This paper first introduces the background and significance of selected topic, the research content, and research methods, at the same time outlines the innovation and shortcomings of the study. Secondly, this paper describes the inventory financing business from four aspects:concepts and features, types, operational processes and the significance of inventory financing, and then introduces the operation mode of inventory financing from the perspective of domestic and foreign. Thirdly, it inspects the development and status of inventory financing business, trying to point out the existing problems of current inventory financing, namely the lack of an optimal set of business solutions, information sharing shortage and insufficient capacity to serve the entire supply chain. Then, points out that the inventory financing risk in the "latency","attack","deterioration" in three different stages of recognition, and based on the principle of choosing a scientific, systematic and operability of the evaluation index, from the view of macro and industry system risk, supply chain risk, credit risk, system inventory guarantee liquidity risk and operational risk, build commodity financing risk evaluation index system of inventory. Then, the specific steps are given inventory financing risk evaluation, and taking B enterprise as a case of a multi-level multi-objective linear weight function evaluation.Finally, putting forward some thinking and suggestions from five aspects of the strengthening of environmental policy and law risk management, establish and improve the credit risk management system, the establishment of emergency response mechanism and information sharing system, the supply chain system and enhance the risk of internal risk management awareness and putting forward risk control of inventory financing risks in three aspects such as the access system, risk control, risk control and execution of contract design.We hope this article will provide some ideas for the further study of inventory financing business and the actual supervision of commercial banks to complete the work better.更多还原