臺灣博碩士論文加值系統

全球經濟的不穩定性與破產的高風險性，使得企業透過銀行融資所取得的資金是有限的。因此，供應鏈融資(SCF)的相關議題被提出。供應鏈融資中包含不同策略，以提升供應鏈內部金流使用效率。本研究提出結合信用保證的共同融資模式(JBF)，為提升整條供應鏈成員由銀行融資取得足夠資金的機會，進而使此供應鏈中的每一位成員期望收益提升。為達到上述目的，分別建立個別融資(BFS)及共同融資(JBF)的數學模式。此外，我們以數值測試的方式具體比較供應鏈成員分別在兩種策略下的期望收益。研究結果顯示，在共同融資的模式中，供應鏈成員可以達到更高的訂購量，以增加每一位成員的期望收益。最後，我們呈現在訂購量與供應鏈成員破產的分析，並進一步討論市場需求的不確定性與規模經濟的影響。

As the growing of globalization, the competition between each supply chain becomes fiercer. However, because of the economic variation and high bankruptcy risk, the availability of credit financing is limited. Supply chain finance (SCF) is proposed to ease the situation. SCF includes solutions to make the cash flow in the supply chain efficiently used. This research aims to increase the opportunities for obtaining bank loan to gain sufficient cash flow within entire supply chain and approach higher profit individually. We propose a SCF scheme by joint bank financing with credit guarantee (JBF). To reveal the advantages of JBF, we build mathematical models of bank financing separately (BFS) and JBF, respectively. The results show that under JBF, the supply chain is able to approach higher order quantity and thus the profit of each member in the supply chain increases. We further present numerical analysis of each member's profit under BFS and JBF. In addition, we demonstrate the bankruptcy risk of each order quantity, the sensitivity analysis of demand market risk and the analysis of economic of scale.

口試合格證明 I
摘要 II
Abstract III
誌謝 IV
Outline of content V
List of Table VII
List of Figure VIII
Chapter 1 Introduction 1
1.1 Research background and motivation 1
1.2 Purpose and research question 3
1.3 Research framework 3
Chapter 2 Literature review 6
2.1 Supply chain finance 6
2.1.1 Supply chain internal finance 7
2.1.2 Supply chain external finance 11
2.1.3 Supply chain internal and external finance 12
2.1.4 Conclusion 17
2.2 Cash flow models 23
2.3 Line of credit and interest rate of bank loan 30
2.4 Conclusion 32
Chapter 3 Mathematical Model 33
3.1 Assumption and research range 33
3.2 Notations 34
3.3 Bank financing separately (BFS) 35
3.3.1 Mathematical Model 36
3.3.2 Derivation 38
3.4 Joint Bank financing with credit guarantee (JBF) 39
3.4.1 Mathematical Model 41
3.4.2 Derivation 42
3.5 Solving algorism 44
Chapter 4 Numerical Analysis 45
4.1 Maximum profit under BFS 45
4.2 Maximum profit under JBF 46
4.3 Comparing BFS and JBF 47
4.4 Analysis of bankruptcy 48
4.5 Analysis of market demand and R’s profit 51
4.6 Analysis of economic of scale 52
Chapter 5 Conclusion 55
Reference 57

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