导　　师： 汪洋

学科专业： 120202

授予学位： 硕士

作　　者： ;

机构地区： 华南理工大学

摘　　要： 中国改革开放以来，供应链上中小企业迅速发展，已成为国民经济和社会发展的重要力量，但其在发展过程中面临诸多困难，融资难已成为中小企业发展的最大障碍。加之国际和国内经济形势低迷，供应链中小节点企业融资困难的问题更加严重。 本文首先对供应链中小节点企业的融资特征进行分析，指出供应链融资是解决中小节点企业融资难的有效途径。在对现有供应链融资产品的运作机制和特点进行比较分析后，认为现有供应链融资业务忽略了对供应链链内盈余资金的运用以及核心企业链内协调和控制能力的发挥，限制了供应链融资业务的适用性，不能满足大量中小节点企业的资金需求。其次，针对现有供应链融资业务的局限性，提出由核心企业主导的供应链融资方式，讨论供应链节点企业在核心企业主导供应链融资下的收益，分析表明供应链节点企业的收益在该种融资方式下可得到有效提升，核心企业主导的供应链融资是可行的；同时建立数理模型研究供应链节点企业在核心企业主导供应链融资下的运作决策的影响因素，为供应链各参与主体的运作决策提供指导。最后结合WL控股有限公司所在的电机制造供应链的数据，对核心企业主导供应链融资模型进行模拟仿真分析，仿真结果进一步验证了前面理论分析的结论。 本文提出核心企业主导供应链融资的框架，弥补现有供应链融资业务的不足，扩大供应链融资业务的适用性，为进一步解决中小节点企业融资困难提出可行方案，该研究在中小节点企业融资困境的解决以及供应链融资业务的发展上具有理论和现实的指导意义。 Since the policy of reform and opening up, small and medium enterprises /(SME/) havewell developed, and they have become the important developing strength of national economyand society. But SMEs have faced a lot of difficulties in their development, and financingdifficulty is the biggest obstacle. What’s more, foreign and internal economy is in a downturnthese years, so the financing difficulty of SMEs is getting more serious. Firstly, this article has analyzed financing features of SMEs in supply chain, andindicates that supply chain financing is a efficiency way to solve SME financing difficulty.After discussing the operation mechanism and features of existing products of supply chainfinancing, the result shows that existing supply chain financing has neglected the utilizing ofsurplus capital in the supply chain and the expressing of core enterprises’ coordinating andorganizing ability. This has restricted applicative scale of supply chain financing and couldn’tsatisfy most SME’s capital needs. Secondly, aiming at the boundedness of existing supplychain financing, this article has come up with a new financing model “supply chain financingled by core enterprise”. Then discuss interest of hybrid enterprises in supply chain usingsupply chain financing led by core enterprise, and find out that interest of all participants hasbeen elevated, which means supply chain financing led by core enterprise is feasible.Meanwhile, this article has built mathematical model to analyze the influencing factors ofparticipants’ decision making in supply chain led by core enterprise and supply participantswith guidance. Lastly, based on the actual data of WL Company’s electrical machine makingsupply chain, simulates the operation model of supply chain financing led by core enterprise,and the result shows accordance with the conclusion of theory analyzing forwardly. This article has come up with the financing model of supply chain financing led by coreenterprise, which offsets shortages of existing supply chain financing products and broadensthe applicative scale of supply chain financing. This new model has raised a feasible way tosolve SME’s financing difficulty deeply. This study has offered theoretical and practicalguidance in solving SME’s financing difficulty and development of supply chain financing.

关 键 词： 供应链融资 中小企业融资 资金约束 核心企业

分 类 号： [F832.42 F274]

领　　域： [经济管理] [经济管理] [经济管理]