随机需求下基于存货质押融资的项目投资决策  

Project investment decision-making based on inventory financing with stochastic demand

作　　者：孙海雷[1,2] 王勇[1,2] 陈晓旭[1,2] 王义利[1,2] 

机构地区：[1]重庆大学经济与工商管理学院,重庆400044 [2]重庆大学现代物流重庆市重点实验室,重庆400044

出　　处：《系统工程学报》2016年第2期227-233,共7页Journal of Systems Engineering

基　　金：国家自然科学基金资助项目(71272085;71201027);重庆大学物流开放实验室资助项目(CQKLL12002);教育部人文社会科学研究规划基金资助项目(12YJA630135);山东省高校人文社科研究计划资助项目(J15WB54)

摘　　要：将投资决策与存货质押融资和库存管理结合起来,采用联合决策机制,在货物需求随机的情况下构建了企业基于存货质押融资业务的项目投资模型.将该模型的解与正常销售情况下的期望利润比较,得出中小企业的投资决策.最后,给出了一个中小企业投资决策的算例,结果表明企业的最优决策是采用存货质押模式融资进行项目投资,同时确定了该企业的最优质押量,并分析了参数变化对该企业的期望利润和投资决策的影响.Combining investment decision with inventory pledge financing and inventory management,using the joint decision-making mechanism,assuming cargo demand is random,a project investment model is set up based on the enterprise＇s inventory pledge financing.By comparing solutions of the model with the expected profit under normal selling,the investment decision is derived.Finally,a numerical example of small and medium-sized enterprises investment decision-making is given.The results show that the optimal decision of these enterprises is to use the inventory pledge financing mode for object investment.The optimal pledge amount for inventory pledge financing is also determined.The impact of the parameter changes on the expected profit of the enterprise and the investment decision is analyzed.

关 键 词：存货质押融资 库存管理 项目投资决策 

分 类 号：F253.4[经济管理—国民经济]