基于区块链技术的供应链存货质押融资决策研究  

Research on Supply Chain Inventory Pledge Financing Decision Based on Blockchain Technology

作　　者：陈科 Chen Ke(School of Business,Nanjing Audit University,Nanjing 211815,China)

机构地区：[1]南京审计大学商学院,江苏南京211815

出　　处：《科技创业月刊》2023年第5期132-140,共9页Journal of Entrepreneurship in Science & Technology

摘　　要：存货质押融资是中小企业解决资金问题的重要金融手段。同时区块链技术因其公开透明、难以伪造数据等特点,能有效改善存货质押融资模式在发展过程中存在的诸多痛点。针对区块链技术下的存货质押决策问题,建立区块链技术下零售商和采用下侧风险银行的存货质押融资博弈决策模型,采用Stackelberg博弈模型分析区块链技术对零售商质押量和银行质押率的决策影响。研究表明:制造商初始批发价定价较高时,区块链技术可以使零售商用较少的质押量获更高的期望利润。在银行采用相同的风险容忍水平下,使用区块链技术后银行的最优质押率上限提高,且最优质押率会有所提高。对融资参与方是否使用,以及何时使用区块链优化存货质押融资有一定参考价值。Inventory pledge financing is an important financial means to solve the financial problems of small and medium-sized enterprises(SMEs).At the same time,due to its characteristics of openness and transparency and difficulty in forging data,blockchain technology can effectively improve many pain points existing in the development process of inventory pledge financing model.In this paper,aiming at the problem of inventory pledge decision under blockchain technology,a game decision model of inventory pledge financing between retailers and banks with lower risk under blockchain technology is established.The Stackelberg game model is used to analyze the impact of blockchain technology on the decision of retailer pledge quantity and bank pledge ratio.The research shows that when the initial wholesale price of the manufacturer is high,blockchain technology can enable the retailer to obtain higher expected profits with less pledge volume.Under the same risk tolerance level of banks,the upper limit of the optimal lodging-ratio of banks will be increased after the use of blockchain technology,and the optimal lodging-ratio will be improved.This paper has certain reference value for whether and when the financing participants should use blockchain to optimize inventory pledge financing.

关 键 词：区块链技术 中小企业 存货质押 质押量 质押率 

分 类 号：F832.33[经济管理—金融学] F752.62