供应链金融风险来源与系统化管理:一个整合性框架
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摘要
近年来,供应链金融在中小企业融资领域逐渐得到广泛应用。基于供应链风险管理的一般性框架,应当从结构、流程和要素三个维度来考虑供应链金融的风险管理问题,以有效应对不同来源的供应链金融风险,实现一定的融资绩效。其中,结构维度包括供应链网络结构和业务结构两个方面,流程维度包括收入自偿导向下的交易流程和垂直化的管理结构,要素维度包括全供应链网络的信息治理和融资企业的声誉资产化。构建一个整合的供应链金融风险管理框架,可以体现供应链金融风险对供应链金融绩效的影响,有助于从结构、流程、要素等维度对风险进行管理和控制。
Supply chain finance has gradually been accepted by practioners regarding the issues of SMEs' financing problems.Based on a general framework for supply chain risk management,this paper reviews researches of the source of its risks,and proposes that we should take three dimensions such as structure,process and elements into consideration to effectively cope with different sources of supply chain and achieve a certain amount of financing performance.Specifically,the structure dimension includes supply chain network structure and business structure,the process dimension includes transaction process and vertical management process,and the elements dimension includes the whole supply chain network information governance and reputation capitalization.Finally,this paper comes up with an integrated supply chain financial risk management model,then discusses the three dimensions for the further researches and practices.
Supply chain finance has gradually been accepted by practioners regarding the issues of SMEs' financing problems.Based on a general framework for supply chain risk management,this paper reviews researches of the source of its risks,and proposes that we should take three dimensions such as structure,process and elements into consideration to effectively cope with different sources of supply chain and achieve a certain amount of financing performance.Specifically,the structure dimension includes supply chain network structure and business structure,the process dimension includes transaction process and vertical management process,and the elements dimension includes the whole supply chain network information governance and reputation capitalization.Finally,this paper comes up with an integrated supply chain financial risk management model,then discusses the three dimensions for the further researches and practices.
引文
(1)Trkman,P.,and K.Mccormack.“Supply Chain Risk in Turbulent Environments-A Conceptual Model for Managing Supply Chain Network Risk”.International Journal of Production Economics,2009,119(2):247-258.
(2)Hofmann,E.“Supply Chain Finance:Some Conceptual Insights”.Beitrge zu Beschaffung und Logistik,2005:149;Pfohl,H.C.,and M.Gomm.“Supply Chain Finance:Optimizing Financial Flows in Supply Chains”.Logistics Research,2009,1(3-4):149-161.
(3)Basu,P.,and S.K.Nair.“Supply Chain Finance Enabled Early Pay:Unlocking Trapped Value in B2BLogistics”.International Journal of Logistics Systems&Management,2012,12(3):334-353;More,D.,and P.Basu.“Challenges of Supply Chain Finance:A Detailed Study and a Hierarchical Model Based on the Experiences of an Indian Firm”.Business Process Management Journal,2013,19(4):624-647.
(4)Barsky,N.P.,and A.H.Catanach.“Evaluating Business Risks in the Commercial Lending Decision”.Commercial Lending Review,2005,20(3):3-10.
(5)李毅学:《供应链金融风险评估》.载《中央财经大学学报》,2011(10)。
(1)郭清马:《供应链金融模式及其风险管理研究》,载《金融教学与研究》,2010(2)。
(2)邹武平:《银行供应链金融业务风险及其防范》,载《网络财富》,2009(16)。
(3)孙敏:《供应链金融给各方带来的优势和风险及对策分析》,载《物流工程与管理》,2010,32(10);童映磊:《商业银行供应链金融业务风险分析及防范》,载《金融经济(理论版)》,2010(12)。
(4)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210.
(5)张涛、张亚南:《基于巴塞尔协议Ⅲ我国商业银行供应链金融风险管理》,载《时代金融旬刊》,2012(12)。
(6)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210;Rao,S.,and T.J.Goldsby.“Supply Chain Risks:A Review and Typology”.The International Journal of Logistics Management,2009,20(1):97-123.
(7)Sheffi,Y.,and Jr.J.B.Rice.“A Supply Chain View of the Resilient Entreprise”.MIT Sloan Management Review,2005,47(1);Tomlin,B.“Managing Supply-demand Risk in Global Production:Creating Cost-effective Flexible Networks”.Business Horizons,2014,57(4):509-519.
(1)Lamoureux,M.“A Supply Chain Finance Prime”.Supply Chain Finance,2007(4):34-48.
(2)Ritchie,B.,and C.Brindley.“Supply Chain Risk Management and Performance:A Guiding Framework for Future Development”.International Journal of Operations&Production Management,2007,27(3):303-322.
(3)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210.
(4)Christopher,M.,and H.Peck.“Building the Resilient Supply Chain”.International Journal of Logistics Management,2004,15(2):1-13.
(1)Lambert,D.M.,and M.C.Cooper.“Issues in Supply Chain Management”.Industrial Marketing Management,2000,29(1):65-83.
(2)Blackman,I.D.,Holland,C.P.,and T.Westcott.“Motorolas Global Financial Supply Chain Strategy”.Supply Chain Management:An International Journal,2013,18(2):132-147.
(3)Craighead,C.W.,Blackhurst,J.,and M.J.Rungtusanatham,et al.“The Severity of Supply Chain Disruptions:Design Characteristics and Mitigation Capabilities”.Decision Sciences,2007,38(1):131-156.
(4)Trkman,P.,and K.Mccormack.“Supply Chain Risk in Turbulent Environments-A Conceptual Model for Managing Supply Chain Network Risk”.International Journal of Production Economics,2009,119(2):247-258.
(5)深圳发展银行-中欧国际工商学院“供应链金融”课题组:《供应链金融---新经济下的新金融》,上海,上海远东出版社,2009。
(6)Levin,R.,and M.Iansiti.“The Keystone Advantage:What the New Dynamics of Business Ecosystems Mean for Strategy”.In:Innovation,and Sustainability.New York:Mcgraw-Hill,2004.
(7)罗正英:《信誉链假说:中小企业融资能力的放大》,载《上海经济研究》,2003(5);Song,H.,Yu,K.,and A.Ganguly,et al.“Supply Chain Network,Information Sharing and SME Credit Quality”.Industrial Management&Data Systems,2016,116(4):740-758.
(1)Song,H.,Yu,K.,and A.Ganguly,et al.“Supply Chain Network,Information Sharing and SME Credit Quality”.Industrial Management&Data Systems,2016,116(4):740-758.
(2)Basole,R.C.,and M.A.Bellamy.“Supply Network Structure,Visibility,and Risk Diffusion:A Computational Approach”.Decision Sciences,2014,45(4):753-789.
(3)(8)宋华:《互联网供应链金融》,北京,中国人民大学出版社,2017。
(4)李占雷、陈向南、任向阳:《供应链金融生态系统节点企业协调度研究》,载《商业时代》,2013(33)。
(5)郭菊娥、史金召、王智鑫:《基于第三方B2B平台的线上供应链金融模式演进与风险管理研究》,载《商业经济与管理》,2014(1)。
(6)彭小龙:《基于FMEA的供应链风险识别和评估》,载《中国市场》,2011(2)。
(7)夏泰凤、金雪军:《供应链金融解困中小企业融资难的优势分析》,载《商业研究》,2011(6)。
(1)Halinen,A.,T9rnroos,J..,and M.Elo.“Network Process Analysis:An Event-based Approach to Study Business Network Dynamics”.Industrial Marketing Management,2013,42(8):1213-1222.
(2)宋华:《互联网供应链金融》,北京,中国人民大学出版社,2017。
(3)深圳发展银行-中欧国际工商学院“供应链金融”课题组:《供应链金融---新经济下的新金融》,上海,上海远东出版社,2009。
(4)Sadlovska.V.“Technology Platforms for Supply Chain Finance”.Aberdeen Study,Boston,2007,6-11.
(5)缪苗:《大数据背景下供应链金融特点及发展趋势分析》,载《金融经济》,2015(18)。
(6)Brandon-Jones,E.,Squire,B.,and C.W.Autry,et al.“A Contingent Resource-Based Perspective of Supply Chain Resilience and Robustness”.Journal of Supply Chain Management,2014,50(3):55-73.
(7)Bode,C.,Hübner,D.,and S.M.Wagner.“Managing Financially Distressed Suppliers:An Exploratory Study”.Journal of Supply Chain Management,2014,50(4):24-43.
(8)刘捷萍:《供应链金融网络信息生态系统价值创新研究---以横琴新区为例》,载《中小企业管理与科技(中旬刊)》,2014(9)。
(9)Christopher,M.,and H.Lee.“Mitigating Supply Chain Risk through Improved Confidence”.International Journal of Physical Distribution&Logistics Management,2004,34(5):388-396.
(1)Donaldson,A,and P.Walker.“Information Governance-A View from the NHS”.International Journal of Medical informatics,2004,73(3):281-284.
(2)Kooper,M.N.,Maes,R.,and E.E.O.R.Lindgreen.“On the Governance of Information:Introducing a New Concept of Governance to Support the Management of Information”.International Journal of Information Management,2011,31(3):195-200.
(3)Fombrun,C.,and M.Shanley.“Whats in a Name?Reputation Building and Corporate Strategy”.Academy of Management Journal,1990,33(2):233-258.
(4)Lemke,F.,and H.L.Petersen.“Teaching Reputational Risk Management in the Supply Chain”.Supply Chain Management:An International Journal,2013,18(4):413-429.
(5)刘远亮、高书丽:《供应链金融模式下的小企业信用风险识别---基于北京地区信贷数据的实证研究》,载《新金融》,2013(1)。
(1)Zucker,L.G.“Production of Trust:Institutional Sources of Economic Structure,1840-1920”.Research in Organizational Behavior,1986,8(2):53-111.
(2)Barney,J.“Firm Resources and Sustained Competitive Advantage”.Journal of Management,1991,17(1):99-120.
(3)Holcomb,M.,Gligor,D.M.“The Road to Supply Chain Agility:An RBV Perspective on the Role of Logistics Capabilities”.International Journal of Logistics Management,2014,25(1):327-378.
(4)Wu,F.,Yeniyurt,S.,and D.Kim,et al.“The Impact of Information Technology on Supply Chain Capabilities and Firm Performance:A Resource-based View”.Industrial Marketing Management,2006,35(4):493-504;Brandon-Jones,E.,Squire,B.,and C.W.Autry,et al.“A Contingent Resource-Based Perspective of Supply Chain Resilience and Robustness”.Journal of Supply Chain Management,2014,50(3):55-73.
(2)Hofmann,E.“Supply Chain Finance:Some Conceptual Insights”.Beitrge zu Beschaffung und Logistik,2005:149;Pfohl,H.C.,and M.Gomm.“Supply Chain Finance:Optimizing Financial Flows in Supply Chains”.Logistics Research,2009,1(3-4):149-161.
(3)Basu,P.,and S.K.Nair.“Supply Chain Finance Enabled Early Pay:Unlocking Trapped Value in B2BLogistics”.International Journal of Logistics Systems&Management,2012,12(3):334-353;More,D.,and P.Basu.“Challenges of Supply Chain Finance:A Detailed Study and a Hierarchical Model Based on the Experiences of an Indian Firm”.Business Process Management Journal,2013,19(4):624-647.
(4)Barsky,N.P.,and A.H.Catanach.“Evaluating Business Risks in the Commercial Lending Decision”.Commercial Lending Review,2005,20(3):3-10.
(5)李毅学:《供应链金融风险评估》.载《中央财经大学学报》,2011(10)。
(1)郭清马:《供应链金融模式及其风险管理研究》,载《金融教学与研究》,2010(2)。
(2)邹武平:《银行供应链金融业务风险及其防范》,载《网络财富》,2009(16)。
(3)孙敏:《供应链金融给各方带来的优势和风险及对策分析》,载《物流工程与管理》,2010,32(10);童映磊:《商业银行供应链金融业务风险分析及防范》,载《金融经济(理论版)》,2010(12)。
(4)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210.
(5)张涛、张亚南:《基于巴塞尔协议Ⅲ我国商业银行供应链金融风险管理》,载《时代金融旬刊》,2012(12)。
(6)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210;Rao,S.,and T.J.Goldsby.“Supply Chain Risks:A Review and Typology”.The International Journal of Logistics Management,2009,20(1):97-123.
(7)Sheffi,Y.,and Jr.J.B.Rice.“A Supply Chain View of the Resilient Entreprise”.MIT Sloan Management Review,2005,47(1);Tomlin,B.“Managing Supply-demand Risk in Global Production:Creating Cost-effective Flexible Networks”.Business Horizons,2014,57(4):509-519.
(1)Lamoureux,M.“A Supply Chain Finance Prime”.Supply Chain Finance,2007(4):34-48.
(2)Ritchie,B.,and C.Brindley.“Supply Chain Risk Management and Performance:A Guiding Framework for Future Development”.International Journal of Operations&Production Management,2007,27(3):303-322.
(3)Jüttner,U.,Peck,H.,and M.Christopher.“Supply Chain Risk Management:Outlining an Agenda for Future Research”.International Journal of Logistics:Research and Applications,2003,6(4):197-210.
(4)Christopher,M.,and H.Peck.“Building the Resilient Supply Chain”.International Journal of Logistics Management,2004,15(2):1-13.
(1)Lambert,D.M.,and M.C.Cooper.“Issues in Supply Chain Management”.Industrial Marketing Management,2000,29(1):65-83.
(2)Blackman,I.D.,Holland,C.P.,and T.Westcott.“Motorolas Global Financial Supply Chain Strategy”.Supply Chain Management:An International Journal,2013,18(2):132-147.
(3)Craighead,C.W.,Blackhurst,J.,and M.J.Rungtusanatham,et al.“The Severity of Supply Chain Disruptions:Design Characteristics and Mitigation Capabilities”.Decision Sciences,2007,38(1):131-156.
(4)Trkman,P.,and K.Mccormack.“Supply Chain Risk in Turbulent Environments-A Conceptual Model for Managing Supply Chain Network Risk”.International Journal of Production Economics,2009,119(2):247-258.
(5)深圳发展银行-中欧国际工商学院“供应链金融”课题组:《供应链金融---新经济下的新金融》,上海,上海远东出版社,2009。
(6)Levin,R.,and M.Iansiti.“The Keystone Advantage:What the New Dynamics of Business Ecosystems Mean for Strategy”.In:Innovation,and Sustainability.New York:Mcgraw-Hill,2004.
(7)罗正英:《信誉链假说:中小企业融资能力的放大》,载《上海经济研究》,2003(5);Song,H.,Yu,K.,and A.Ganguly,et al.“Supply Chain Network,Information Sharing and SME Credit Quality”.Industrial Management&Data Systems,2016,116(4):740-758.
(1)Song,H.,Yu,K.,and A.Ganguly,et al.“Supply Chain Network,Information Sharing and SME Credit Quality”.Industrial Management&Data Systems,2016,116(4):740-758.
(2)Basole,R.C.,and M.A.Bellamy.“Supply Network Structure,Visibility,and Risk Diffusion:A Computational Approach”.Decision Sciences,2014,45(4):753-789.
(3)(8)宋华:《互联网供应链金融》,北京,中国人民大学出版社,2017。
(4)李占雷、陈向南、任向阳:《供应链金融生态系统节点企业协调度研究》,载《商业时代》,2013(33)。
(5)郭菊娥、史金召、王智鑫:《基于第三方B2B平台的线上供应链金融模式演进与风险管理研究》,载《商业经济与管理》,2014(1)。
(6)彭小龙:《基于FMEA的供应链风险识别和评估》,载《中国市场》,2011(2)。
(7)夏泰凤、金雪军:《供应链金融解困中小企业融资难的优势分析》,载《商业研究》,2011(6)。
(1)Halinen,A.,T9rnroos,J..,and M.Elo.“Network Process Analysis:An Event-based Approach to Study Business Network Dynamics”.Industrial Marketing Management,2013,42(8):1213-1222.
(2)宋华:《互联网供应链金融》,北京,中国人民大学出版社,2017。
(3)深圳发展银行-中欧国际工商学院“供应链金融”课题组:《供应链金融---新经济下的新金融》,上海,上海远东出版社,2009。
(4)Sadlovska.V.“Technology Platforms for Supply Chain Finance”.Aberdeen Study,Boston,2007,6-11.
(5)缪苗:《大数据背景下供应链金融特点及发展趋势分析》,载《金融经济》,2015(18)。
(6)Brandon-Jones,E.,Squire,B.,and C.W.Autry,et al.“A Contingent Resource-Based Perspective of Supply Chain Resilience and Robustness”.Journal of Supply Chain Management,2014,50(3):55-73.
(7)Bode,C.,Hübner,D.,and S.M.Wagner.“Managing Financially Distressed Suppliers:An Exploratory Study”.Journal of Supply Chain Management,2014,50(4):24-43.
(8)刘捷萍:《供应链金融网络信息生态系统价值创新研究---以横琴新区为例》,载《中小企业管理与科技(中旬刊)》,2014(9)。
(9)Christopher,M.,and H.Lee.“Mitigating Supply Chain Risk through Improved Confidence”.International Journal of Physical Distribution&Logistics Management,2004,34(5):388-396.
(1)Donaldson,A,and P.Walker.“Information Governance-A View from the NHS”.International Journal of Medical informatics,2004,73(3):281-284.
(2)Kooper,M.N.,Maes,R.,and E.E.O.R.Lindgreen.“On the Governance of Information:Introducing a New Concept of Governance to Support the Management of Information”.International Journal of Information Management,2011,31(3):195-200.
(3)Fombrun,C.,and M.Shanley.“Whats in a Name?Reputation Building and Corporate Strategy”.Academy of Management Journal,1990,33(2):233-258.
(4)Lemke,F.,and H.L.Petersen.“Teaching Reputational Risk Management in the Supply Chain”.Supply Chain Management:An International Journal,2013,18(4):413-429.
(5)刘远亮、高书丽:《供应链金融模式下的小企业信用风险识别---基于北京地区信贷数据的实证研究》,载《新金融》,2013(1)。
(1)Zucker,L.G.“Production of Trust:Institutional Sources of Economic Structure,1840-1920”.Research in Organizational Behavior,1986,8(2):53-111.
(2)Barney,J.“Firm Resources and Sustained Competitive Advantage”.Journal of Management,1991,17(1):99-120.
(3)Holcomb,M.,Gligor,D.M.“The Road to Supply Chain Agility:An RBV Perspective on the Role of Logistics Capabilities”.International Journal of Logistics Management,2014,25(1):327-378.
(4)Wu,F.,Yeniyurt,S.,and D.Kim,et al.“The Impact of Information Technology on Supply Chain Capabilities and Firm Performance:A Resource-based View”.Industrial Marketing Management,2006,35(4):493-504;Brandon-Jones,E.,Squire,B.,and C.W.Autry,et al.“A Contingent Resource-Based Perspective of Supply Chain Resilience and Robustness”.Journal of Supply Chain Management,2014,50(3):55-73.