Cross-border E-commerce Development Strategy Under the Internet + Logistics Finance Model

In recent years, the rise of cross-border e-commerce in China has been relatively rapid, and the proportion of cross-border ecommerce in import and export trade has continued to increase. Cross-border e-commerce plays an extremely important role in promoting China\u27s trade transformation and has become a new model of international trade. But the prosperity of any field is inseparable from the strong support of funds. This paper identifies the risk factors that may arise when cross-border e-commerce applications are applied to these models. Then analyzes and evaluates them in order to provide decision-making reference for cross-border e-commerce enterprises that have financing needs or plan to apply logistics finance

Three Essays on the Risk Management of Logistics Finance

중국은 이미 세계에서 주요 생산국과 소비국 중의 하나가 되었다. 2016년 등록한 기업이 하루 평균 15,000개 정도로서 중국 경제의 빠른 발전에 기여했다. 또 한편으로는 중소기업의 금융문제는 갈수록 어려워지고 있다. 이와 같은 문제는 중소기업에 도덕적 리스크, 정보비대칭, 영업익스포져 등 의 요소가 존재하기 때문에 은행의 중소기업에 대한 신용평가가 높지 않기 때문이다. 게다가 대출 절차가 갈수록 복잡해지고 은행이 수익을 얻기가 어려워져 중소기업도 대출을 받기가 힘들고 투자 환경이 어려워지고 있다. 이런 상황에서 물류금융이 새로운 금융방식으로서 나타났다. 물류금융은 물류산업의 세 당사자 - 중소기업, 은행 및 물류기업 - 에게 효과적인 금융플랫폼을 제공할 수 있다. 물류금융은 중소기업의 금융문제를 해결할 뿐만 아니라 은행과 물류기업에게 새로운 이윤창출 방식을 제공할 수 있을 것이다. 이에 따라 세 당사자에게 모두 이익을 가져다 줄 가능성을 가져왔다. 그러나 한편으로는 새로운 리스크도 함께 왔다. 물류금융에서 발생하는 리스크문제를 해결하기 위한 방안을 찾기 위해 이 논문은 세가지 관점에서 연구를 진행해 세 개의 에세이로 분석했다. 첫 번째, 게임이론을 바탕으로 물류금융의 신용리스크 관리를 연구한다. (EssayⅠ) 첫 번째 에세이에서는 먼저 은행 및 물류기업이 직면한 신용리스크를 분석한다. 다음으로 게임이론을 이용하여 은행과 중소기업 간의 관계를 분석하고, 물류기업을 도입해서 세 당사자 간의 게임적인 방식을 분석한다. 이를 통해 은행이 감독하는 확률, 중소기업의 신뢰도의 확률 및 물류기업이 계약을 이행하는 확률을 찾아 신용리스크의 이론적인 근거를 제시한다. 중소기업과 물류기업의 신용불안요소 및 위약요소를 찾는 과정에서 아래와 같은 정책을 제언했다. 1. 은행과 물류기업이 중소기업 신용관리 플랫폼을 설리하고 모든 정보를 공유한다. 2. 은행과 물류기업의 협력관계를 강화해야 한다. 3. 은행이 고객의 재무자료 데이터뱅크 시스템을 완성시키고 감독비용을 최소화 시킨다. 4. 물류기업과 중소기업의 감독관리를 강화하고 중소기업 신용불량 상황의 발생을 최소화시킨다. 두 번째, 통합신용보장방식에 있어 은행의 물류기업 리스크 평가 모델을 설정한다. (Essay II) 두 번째 에세이에서는 먼저 통합신용보장방식에서 은행이 직면하는 리스크를 변별하고 다음으로 기업의 재무지표를 활용하여 요인분석모델을 설정한다. 물류기업 금융리스크의 주요 지표를 분석하고 물류기업의 금융리스크를 계량화 분석한다. 통합신용보장방식에서 은행의 기업 선택표준을 제공한다. 물류기업의 금융리스크는 주로 경영현황, 부채상환 능력, 수익성, 성장성 등에서 비롯된다. 이 논문은 통합신용보장방식에서 은행에게 기업의 선택표준을 제공하며 이를 통해 은행의 물류기업에 대한 심사효율성과 신뢰성을 향상시킬 수 있다. 이 논문은 은행이 물류기업의 담보계좌(担保账户)를 설립하고 물류기업의 재무 분석 플랫폼을 구축해야 한다고 제안한다. 그리고 상장한 물류기업의 연도 보고서를 충실히 작성하고, 은행의 기업관리기관, 세무기관 간의 소통체계를 강화해야 하고 물류기업의 재무리스크 관리를 강화해야 한다. 그리고 물류기업의 거래대금에 대한 관리를 강화해야 한다. 세 번째, 통합신용보장방식에서 물류기업의 중소기업 선택방법을 연구한다. (Essay III) 세 번째 에세이에서는 먼저 물류기업이 직면한 리스크를 변별하고, AHP과 LP기법을 활용하여, 창고의 한정량과 대출한도를 제약조건으로 하는 물류기업의 중소기업에 대한 적정 대출 규모 모델을 설정한다. 그 결과 물류기업의 이윤 극대화를 보장하기 위하여 아래와 같이 몇 가지 제안을 한다. 1. 물류기업 창고의 한정량에 대한 경보시스템을 구축하고 담보물의 저장 공간을 확보해야 한다. 2. 담보물에 대한 평가체계를 완성하고 물류기업 담보물가치의 적절성을 확보해야 한다. 3. 중소기업에 대한 신용평가 플랫폼을 구축하고 물류기업 대출의 안전성을 확보해야 한다. 위 내용을 전체적으로 보면 이 논문은 물류금융의 리스크 관리상에 세 가지 문제를 연구했다. 그리고 물류금융리스크의 관리에 대해 전략적인 제안을 제시했다. 이와 같이 보완된 물류금융은 중국경제를 지속적으로 발전시킬 수 있다고 예측한다.Korean Abstract viii INTRODUCTION: General Remarks & Literature Review 1 1.1 Background and Objective 1 1.2 Scope and Methodology of the Study 5 1.3 Structure and Contents 6 1.4 Literature Review 8 1.4.1 The Theoretical Study of Logistics Finance 8 1.4.2 Study of Logistics Finance Risk Management 13 ESSAY I: The Credit Risk Management of Three Parties in Logistics Finance-Using Game Theory 17 1. Introduction 17 1.1 Background and Objective 17 1.2 Scope and Methodology of the Study 18 1.2.1 Scope of the Study 18 1.2.2 Methodology of the Study 18 1.3 Structure and Contents 21 1.4 Literature Review 22 2. Identification of Logistics Financial Credit Risk 25 2.1 Relationship among the Three Principal Delegates 25 2.2 Identification of Credit Risk 26 2.2.1 The Credit Risk of Bank 26 2.2.2 The Credit Risk of Logistics Company 27 2.2.3 The Cause of the Credit Risk 27 3. Game Analysis 30 3.1 Game Analysis between Banks and SMEs 30 3.1.1 Hypothesis 31 3.1.2 Model Building 32 3.1.3 Model Solving 33 3.2 Tripartite Game Model 35 3.2.1 Model Hypothesis 35 3.2.2 Model Building 38 3.2.3 Model Solving 39 4. Policy Implication 45 5. Summary of Essay I 45 ESSAY II: The Risk Management of Bank Selecting Logistics Company Under Unified Credit Guarantee Mode 47 1. Introduction 47 1.1 Background and Objective 47 1.2 Scope and Methodology of the Study 48 1.2.1 Scope of the Study 48 1.2.2 Methodology of the Study 49 1.3 Structure and Contents 51 1.4 Literature Review 52 2. The Risk of Banks under Unified Guarantee Credit Mode 55 2.1. Operational Process of Unified Guarantee Credit Mode 55 2.2. The Risk of Bank under Unified Guarantee Credit Mode 56 3. Index Establishment 57 3.1 Bank Assessment Contents 57 3.2 Establishment of Financial Index System 59 3.3 Explanation of Data Indicators 61 4. Factor Analysis 70 4.1 Data Collect 70 4.2 Model Building 70 4.3 Model Solving 72 4.4 Model Comprehensive Evaluation 75 5. Policy Implication 76 6. Summary of Essay II 77 ESSAY III: The Risk Management of Logistics Company Selecting SME Under Unified Credit Guarantee Mode 79 1. Introduction 79 1.1 Background and Objective 79 1.2 Scope and Methodology of the Study 79 1.2.1 Scope of the Study 79 1.2.2 Methodology of the Study 80 1.3 Structure and Contents 84 1.4 Literature Review 85 2. Risk Identification of Logistics Company 88 2.1 Credit Risk from SME 89 2.2 Risks from Mortgage 89 2.3 Risks of Internal 90 2.4 Risks from External 90 3. Model Building and Solving 90 3.1 AHP Analysis 90 3.1.1 Analytic Hierarchy Chart of SME's Risk Assessment 90 3.1.2 Hypothesis 92 3.2 LP Analysis 96 3.2.1 The Establishment of Objective Function 96 3.2.2 Restrictions 97 3.2.3 Model Calculating 98 4. Policy Implication 99 5. Summary of Essay III 100 Summary and Conclusion 102 1.1 Summary of Research 102 1.2 Conclusion of Research 105 1.3 Research Prospects in the Future 108 Reference 110 Acknowledgment 118Docto

The study on operating mode and risk management of warehouse receipt hypothecating

Warehouse receipt hypothecating as a financing mode was introduced to China just few years. In recent years it develops very fast with the third-party logistics Corporation’s rapid growing up. Logistics Corporation as a middleman creates a cooperative platform for bank and small-sized enterprise, evaded the financing risks and resolves the problem of unperfected credit system effectively in China in future long period. This dissertation is concerned with characteristics, operating mode, triple agreement and risk management of warehouse receipt hypothecating. The primary work of this study is to optimize content of agreement, make proposals of improving operating mode and increase in efficiency as well as take effective measures to evaluate and control risks. It starts with a general introduce of warehouse receipt hypothecating. An overview of the development of warehouse receipt hypothecating, status quo and its bottlenecks for three participants are provided. An analysis of selective advantages and disadvantages of warehouse receipt hypothecating is presented in order to probe deep and understand the heart of this business better. This dissertation puts more effort into improvement of operating mode, agreement designing, risk controlment and evaluation of hypothecating rate using VAR model. The findings of the empirical and theoretical study indicate that if only taking proper measures of risk management, warehouse receipt hypothecating is a low-risk financing mode

Research of Risk Identify of Accounts Receivable Financing Based on System Dynamics

Based on the analysis of operational mechanism and risk causes, this paper analyzes the financing risk, supply chain operation risk, financing operation risk, legal risk, macro system risk and market risk in six dimensions of SME accounts receivable financing in supply chain. This paper systematically studies the risk characteristics of SME accounts receivable financing, and build SD model of SME accounts receivable financing through the VENSIM simulation software to carry out risk identification, it could identify the risk dimension and risk boundary effectively , and it could dynamic identify the incentive of financing risk through feedback loops analysis of financing process, provides technical support for the further risk measurement and risk prevention of SME accounts receivable financing in supply chain

Bridging the Gap Between Energy and Climate Policies in Brazil: Policy Options to Reduce Energy-Related GHG Emissions

Brazil is facing a series of important policy decisions that will determine its energy future over the next several decades, with important implications for the country's economic competitiveness, the well-being of its citizens, and the global climate. The decisions concern the direction of approximately 0.5 trillion U.S. dollars of anticipated investment in energy infrastructure over the next decade -- which can either lock in carbon-intensive infrastructure, or advance Brazil's position as a leader in the low-carbon economy. This report examines Brazil's key energy-related GHG emitting sectors through a climate lens in order to offer recommendations for a more integrated approach that can more effectively reconcile energy and climate needs. It begins with an overview of Brazil's past energy and GHG emissions profiles, current pledges and future trends, and a discussion of the implications for a possible allocation of the remaining global carbon budget. Next, it reviews available scenarios for Brazil's energy-related GHG emissions in order to identify key drivers and results and compare them to a given allocation of the global carbon budget. It then focuses on the top emitting subsectors -- transport, industry, and power generation -- to identify key abatement opportunities. The report concludes with recommendations regarding a portfolio of policies and measures that could achieve both climate and energy objectives

What about realized returns in reward-based crowdfunding?

Crowdfunding is an alternative form of financing, especially for entrepreneurs in the early-stage development phase. It is well-known that for investors, beyond altruistic motives, material returns play a crucial role, too. A previous study in this field analyzed returns offered by founders and demanded by investors, resp., by means of a data set from kickstarter.com, a leading platform for reward-based crowdfunding. The present paper additionally looks at the realized returns from an ex post view. It does not present new empirical findings, but identifies problems and limitations in this field, and presents some suggestions for future research

Growing Philanthropy through Giving Circles: Lessons Learned from Start-up to Grantmaking

Individual donors coming together to pool their funds and to make grants, that is the idea behind giving circles. Emerging as a new trend in the United States, giving circles are typically organized around a particular issue or area of interest and are considered a high engagement form of philanthropy. The circle's grantmaking functions, proposal review, and site visits engage members in a participatory process that, when combined with the increased impact of pooled charitable resources, has strong appeal to many donors. The Baltimore Giving Project, housed at the Association of Baltimore Area Grantmakers (USA), has supported the growth of many giving circles since 2000. Its report details the growth and lessons learned from two of these circles

The Necessity of Digital Technology in the Supply Chain Finance Network Based on Digital Integration

Modern enterprise information consultancy and management firms are evolving with a fresh paradigm. This model emphasizes primary businesses and oversees the capital, data, and logistical operations of small to medium-sized entities. It aims to transform unpredictable risks into manageable supply chain enterprise risks, ensuring the most minimal financial service risks. Additionally, supply chain finance offers a broad spectrum of financial solutions for businesses throughout the supply chain. As technology advances, this has given rise to a novel supply chain financial ecosystem. This network can effectively execute supply chain finance operations. Notably, supply chain finance is inherently a credit-based financing system. Conventional techniques fall short in addressing the trust issues within the financial network of supply chain finance. This study introduces a digital methodology for financial network scrutiny. Initially, computer systems are employed to probe the trustworthiness challenges of the financial network, segmenting indices based on the network's demands to mitigate interfering elements. Subsequently, these systems evaluate the financial trust impacts on the supply chain, establish a financial network blueprint, and undertake a holistic examination of the financial network outcomes. Simulations in MATLAB indicate that, when assessed under specific criteria, the digital technology's financial network trust in supply chain finance surpasses traditional approaches in network reliability