存货质押融资定价需求分布特征  

Characteristics of Demand Distribution in Pricing of Inventory Pledge

作　　者：宋玉阳[1] 刘名武[1] 

机构地区：[1]重庆交通大学管理学院,重庆400074

出　　处：《物流技术》2013年第6期97-100,共4页Logistics Technology

基　　金：重庆市自然科学基金项目(cstc2011jjA30014);重庆交通大学研究生教育创新基金项目(20120115)

摘　　要：在供应商回购担保融资的情形下,讨论不同分布类型下的存货质押融资定价问题。首先,建立供应商回购担保融资定价的一般分析框架,并推导出约束质押率和最优质押率。然后,分别计算出需求在均匀分布、指数分布和Rayleigh分布下的实际质押率。通过比较发现,质押率在不同分布类型下的差异较大,且随着回购率的增大而减小。最后通过数值算例比较,分析了获取需求分布信息的代价和收益。因此,银行存货质押融资的正确定价需要准确掌握企业的市场需求分布类型。In this paper, regarding financing guaranteed by supplier buybaek, we discussed the pricing problem of inventory pledge with different distributional patterns. First we established the general framework for the pricing of the supplier buyback guaranteed financing and derived the ratio of constrained pledge and optimal pledge; then we calculated respectively the ratio of actual pledge of the demand with even distribution, index distribution and Rayleigh distribution; and through comparison we found that the ratio of pledge differed greatly with different distributional patterns and the higher the buyback rate, the lower the ratio of pledge. At the end, in a numerical example, we analyzed the cost and benefit in obtaining the information on demand distribution.

关 键 词：存货质押 需求分布类型 质押率 回购率 

分 类 号：F830.5[经济管理—金融学] F224