摘要
信贷交易是一种跨时间的价值交换。在交易过程中,借贷双方的信用对减轻未来的不确定性、降低信用风险、保障资金安全、保证信贷交易正常开展等都起到至关重要的作用。作为典型的信用弱势群体,中小企业和农户由于信息非对称及抵押物缺乏,往往面临严重的信贷约束。如何在信息约束与抵押不足的情况下,通过信贷交易治理机制创新,改善信用弱势群体的信用状况,从而缓解其信贷约束?供应链融资为中小企业提供了一种有效的融资解决方案。但是,现有研究并没有对这种融资模式的内在机理、外部效应及其对农户的适用性等问题给出令人满意的解答。本文从动态信用入手,通过对现实各种融资模式的深入剖析,从理论和实证上回答了供应链融资如何解决农户融资难的几个关键性问题:
(1)理论上,供应链融资信用形成机理怎样?在信用能力不足的情况下,供应链融资如何对农户进行授信?在司法制度不完善与信用体系不健全的情况下,如何建立负债履约机制以控制信用风险?信用的基础与条件是什么?
(2)实践中,农户供应链融资的可行模式有哪些?应用效果如何?影响借款农户授信水平的关键因素有哪些?通过对上述问题的研究与回答,本文得出了以下结论:
(1)供应链网络治理是供应链融资动态信用形成的外部条件。在一定的供应链网络治理条件下,可以建立授信准入、结构授信、信用捆绑、团体授信等授信管理机制及贷前甄别、现金流控制、担保替代、贷款再清偿等负债履约机制,将交易主体之间通过交易互动关系所形成的动态信用转换成银行信用,以提高主体的信用等级,并最终达到提高银行授信额度的目标。同时,供应链网络治理可以在一定程度上转变主体的交易特征,以直接或间接提高银行授信额度。
(2)基于担保授信农户供应链融资模式可以显著提高借款农户的授信水平。其中,不同的担保因素组合是影响担保能力以至影响贷款申请人授信水平的关键因素。
(3)基于农产品质押授信农户供应链融资模式可以显著提高借款农户的授信水平。其中,农产品价值控制是影响贷款申请人授信水平的关键因素。
(4)基于订单质押授信农户供应链融资模式可以显著提高借款农户的授信水平。其中,交易伙伴的信用能力、价值控制水平及不同供应链金融教育水平是影响银行信贷员对贷款申请人授信水平的关键因素。
总体而言,本文在有机结合理论研究与实证分析的基础上,对供应链融资信用形成的条件与机理进行了研究,验证了基于担保授信、农产品质押授信及订单质押授信等农户供应链融资模式的可行性、应用效果及关键因素。本文可能在以下几个方面对现有研究作出了贡献:
(1)从供应链视角解决了农户借贷中激励完全相容的难题,证明了在供应链产业组织模式中,供应链的网络治理机制可以替代农户的自我约束,实现激励完全相容约束,从而降低贷款风险和缓解信贷配给。
(2)构筑动态信用理论,证明了在一定的供应链网络治理机制下,可以将交易伙伴在交易互动中形成的动态信用转化为银行信用,为解决农户等信贷群体普遍存在的“授信难”问题提供了一种新的思路。
(3)证明了借贷双方可以在不进行关系专用性投资的情况下,充分利用现有的供应链网络来进行信贷交易治理,为信贷交易治理提供了一种新思路。
(4)证明了供应链融资对农户的适用性,而且通过构筑供应链融资的动态信用理论,对供应链融资的信用基础、信用形成内在机理等理论问题作出了初步解答。
(5)证明了作为农户业务伙伴的供应链核心企业与专业合作社,往往比农村信用社更有信息优势,由其提供第三方信用担保,能较好地起到信号补充作用。
(6)证明了供应链融资可以利用嵌入交易网络的动产质押弥补农户抵押物不足的缺陷,为扩大有效担保范围提供一种有效途径。
(7)证明了不同供应链金融认知水平对授信活动的影响,从供应链金融教育视角,初步探讨了由于某些银行自身方面原因造成信贷约束及银行授信难的可能性,可以为缓解信贷配给提供一种新的视角与思路
Credit transaction is an exchange of value over time. In the transaction, the credit of the borrowers and lenders plays a crucial role in reducing future uncertainty, reducing credit risk, safeguarding safety of funds, guaranteeing credit transactions and other aspects. As the typical credit disadvantaged groups, Small & Midium-sized Enterprises and farmers often face severe credit constraints because of information asymmetry and the lack of collateral. Under the circumstance of information constraints and insufficient collateral, how to improve credit situation of disadvantaged groups through governance mechanism innovation of credit transaction in order to ease its credit constraints? Supply chain financing for SMEs is an effective financing solution. But current researches have not yet given satisfactory answer to the inherent mechanism and the external effects of this financing model, and to the applicability of Supply chain financing for farmers. Starting from the dynamic credit, the dissertation has carried out in-depth analysis of various available financing modells through theoretical and empirical research and illustrates how it solves several critical problems concerning the farmers'financing difficulties.
In theory, what is the formation mechanism of the credit in supply chain financing? In absence of sufficient credit capacity, how to credit farmers in supply chain financing? Under the imperfect judicial system and unsound credit system, how to establish liability performance mechanism in order to control credit risk? What is the basis and conditions for formation of credit?
In practice, which are feasible supply chain financing modells for farmers? How is the application effect? What is the key factors that affect the credit level of the borrowing farmers?
Through research, the dissertation answers these questions and comes to conclutions as follows:
First, supply chain network governance is the external conditions in the formation of supply chain financing dynamic credit. Under certain supply chain network governance, the dynamic credit that formed in the transaction interaction between transactors could be transferred into bank credit through establishment of credit management mechanism(such as access of credit, structure credit, tied credit and group credit),and establishment of compliance mechanisms(such as screening before loans, cash flow control, guaranteed replacement, and re-settlement of loans liabilities) to improve the credit rating, and ultimately improve line of credit. Meanwhile, the supply chain network governance can change the characteristics of the transactors, so that the bank line of credit can be improved directly or indirectly.
Second, farmers'supply chain financing model based on credit guarantee could significantly improve the credit level of borrowing farmers. The combination of different guarantee factors can significantly affect the ability of guarantee as well as the credit level of loan applicants.
Third, farmers'supply chain financing model based on agricultural produce pledge could significantly improve the credit level of borrowing farmers. The value control of the agricultural produce is a key factor that affects the credit level of loan applicants.
Fourth, farmers'supply chain financing model based on purchase-order can significantly improve the credit level of borrowing farmers. The credit capacity of trading partners, the valve control level of trading partners, and the finance education level of supply chain are the key factors that affect credit level of loan applicants.
To sum up, combining theoretical and empirical analysis, the dissertation has conducted a study on the conditions and mechanism of credit's formation in farmers' supply chain financing model, and verify the feasibility, application effect and key factors of supply chain financing modells based on guaranteed credit, agricultural produce quality collateral, purchase-order collateral and so on. The dissertation may contribute to the existing paper in the following aspects:
First, the dissertation has solved the incentive-compatible problem of the farmers from the perspective of the supply chain, proving that supply chain network management system could replace the farmers'constraint of self-restraint to achieve complete incentive-compatible constraint, thereby reducing the credit risk and alleviating credit rationing;
Second, the dissertation has constructed a theory of dynamic credit, proving that the dynamic credit formed in the transaction interaction could be transferred into bank credit through establishment of credit management mechanism and providing a new way to solve the credit difficulties;
Third, the dissertation has proved that even without specific relationship investment, the existing supply chain management network can be fully used by the borrower and the lender for the management of credit transactions, and then provided a new way to manage the credit transactions;
Fourth, the dissertation has proved the applicability of the supply chain financing for farmers, and given preliminary answers to several theoretical questions of supply chain financing about the formation mechanism and the basis and conditions for the formation of credit through constructing dynamic credit theory for supply chain financing;
Fifth, the dissertation has proved that as farmer's supply chain business partners,the core enterprises and the cooperatives have more advantages in information than rural credit cooperatives. By providing third-party credit guarantee, the core enterprises and the cooperatives could play a better role in signal supplement;
Sixth, the dissertation has proved that the pledge of movables embedded in the supply chain network could compensate farmers for the lack of collateral, and then provided a new way to expand the effective scope of the collateral;
Finally, the dissertation has proved that the cognitive level of supply chain financing could significantly affect the credit level of borrowing farmers, preliminarily discussed the possible causes of the bank itself that lead to credit constratints and difficulties in credit by the bank, and provided a new way and perspective to alleviate credit rationing;
引文
1陈晓萍等.组织与管理研究的实证方法.北京:北京大学出版社,2008.
2同上.
1刘仁和等.农村金融改革与发展高层论坛综述.农业经济问题,2008(9).
1谢圣涛.Aberdeen公司供应链金融研究及启示.西南金融,2009(4).
[1]Adams, D., & Nehman, G. Borrowing costs and the demand for rural credit. Journal of Development Studies,1979,15(2),165-176.
[2]Adler, P., & Kwon, S. Social capital:Prospects for a new concept. The Academy of Management Review,2002,27(1),17-40.
[3]Akerlof, G. The market for" lemons":Quality uncertainty and the market mechanism. The Quarterly Journal of Economics,1970,84(3),488-500.
[4]Alchian, A., & Demsetz, H. Production, information costs, and economic organization. The American Economic Review,1972 (62),777-795.
[5]Anderson, E., & Weitz, B. The use of pledges to build and sustain commitment in distribution channels. Journal of Marketing Research,1992(1),18-34.
[6]Banerjee, A., & Besley, T. Thy neighbor's keeper:The design of a credit cooperative with theory and a test. The Quarterly Journal of Economics,1994, 109(2),491-515.
[7]Besank, D., & Thakor, A. Collateral and rationing:sorting equilibria in monopolistic and competitive credit markets. International Economic Review, 1987,28(3),671-689.
[8]Besley, T. Nonmarket institutions for credit and risk sharing in low-income countries. The Journal of Economic Perspectives,1995, (9),115-127.
[9]Bester, H. Screening vs. rationing in credit markets with imperfect information. The American Economic Review,1985,75(4),850-855.
[10]Bester, H. The Role of Collateral in Credit Markets with Imperfect Information. European Economic Review,1987,31(4),887-899.
[11]Brookes, NJ. Social Networks and Supply Chains. POMS 19th Annual Conference, La Jolla, California, U. S. A May 9th-May 12th 2008.
[12]Brown, M., & Jappelli, T. Information sharing and credit:Firm-level evidence from transition countries. Journal of Financial Intermediation,2009,18(2),151-172.
[13]Bruderl, J., & Preisendorfer, P. Network support and the success of newly founded businesses. Small Business Economics,1998(10),213-225.
[14]Cadilhon, J. J., & Fearne, A. P. Modelling vegetable marketing systems in South East Asia:phenomenological insights from Vietnam. Supply Chain Management,2003,8(5),427-441.
[15]Cadilhon, J. J., & Moustier, P. Traditional vs. modern food systems? Insights from vegetable supply chains to Ho Chi Minh City (Vietnam). Development Policy Review,2006,24(1),31-49.
[16]Chan, Y., & Thakor, A. Collateral and competitive equilibria with moral hazard and private information. Journal of Finance,1987,42(2),345-363.
[17]Chen, I., & Paulraj, A. Understanding supply chain management:critical research and a theoretical framework. International Journal of Production Research, 2004,42(1),131-163.
[18]Chiadamrong, N., & Prasertwattana, K. Using financial incentives as a coordinating mechanism to improve the supply chain network integration. European Journal of Industrial Engineering,2007,1(3),280-300.
[19]Christopher, M., & Lee, H. Mitigating supply chain risk through improved confidence. International Journal of Physical Distribution and Logistics Management,2004, (34),388-396.
[20]Claro, D., & Zylbersztajn, D. How to manage a long-term buyer-supplier relationship successfully? The impact of network information on long-term buyer-supplier relationships in the Dutch potted plant and flower industry. Journal on Chain and Network Science,2004,4 (1),7-24.
[21]Cook, T., & Campbell, D. Quasi-experimentation:Design & analysis issues for field settings. Boston:Houghton Mifflin Company,1979,1-401.
[22]Davies, W. P. Drivers for change in modern food supply. Food Australia, 2004,56(1-2),25-32.
[23]Dionne, G., & Lasserre, P. Adverse Selection, Repeated Insurance Contracts and Annoucement Strategy. The Review of Economic Studies,1985,52(4),719-723.
[24]Eccles, R. G., & Crane, D. Managing through networks in investment banking. California Management Review,1987(30),176-195.
[25]Fried, J., & Howitt, P. Credit rationing and implicit contract theory. Journal of Money, Credit and Banking,1980,12(3),471-487.
[26]Friesz, T. L. Supply chain network economics:Dynamics of prices, flows, and profits. Journal of Regional Science,2008,48(3),663-664.
[27]Gale, D., & Hellwig, M. Incentive-compatible debt contracts:The one-period problem. The Review of Economic Studies,1985,52 (4),647-663.
[28]Gary-Bobo, R. J., & Larribeau, S. A structural econometric modell of price discrimination in the French mortgage lending industry. International journal of industrial organization,2004,22(1),101-134.
[29]Granovetter, M. Economic action and social structure:The problem of embeddedness. American Journal of Sociology,1985, (91),481-510.
[30]Hanf, J. Supply Chain Networks:analysis based on strategic management theories and institutionaleconomics. How Effective is the Invisible Hand?. Agricultural and Food Markets in Central and Eastern Europe,214-231.
[31]Hansen, M., & Mors, M. Knowledge sharing in organizations:Multiple networks, multiple phases. Academy of Management Journal,2005,48(5),776.
[32]Harland, C. Supply chain management:relationships, chains and networks. British Journal of management,1996,(7),63-80.
[33]Harrigan, K. R. Joint ventures and competitive strategy. Strategic Management Journal,1988(9),141-158.
[34]Hart, O., & Moore, J. A theory of debt based on the inalienability of human capital. The Quarterly Journal of Economics,1994,109(4),841-879.
[35]Hart,O.,& Moore, J. Default and Renegotiation:A Dynamic Modell of Debt. Quarterly Journal of Economics,1998,113(1),1-41.
[36]Henchion, M., & McIntyre, B. Market access and competitiveness issues for food SMEs in Europe's lagging rural regions (LRRs). British Food Journal, 2005,107(6),404-422.
[37]Hicks, J. A theory of economic history. Oxford University Press, USA,1973,60-81.
[38]Hoang, H., & Antoncic, B. Network-based research in entrepreneurship A critical review. Journal of Business Venturing,2003(2),165-187.
[39]Hummon, N. P. Utility and dynamic social networks. Social Networks,2000, 22(3),221-249.
[40]Jack, S., & erson, A. The effects of embeddedness on the entrepreneurial process. Journal of Business Venturing,2002,17(5),467-487.
[41]Jaffee, D., & Russell, T. Imperfect information, uncertainty, and credit rationing. The Quarterly Journal of Economics,1976,90(4),651-666.
[42]Jappelli, T., & Pagano, M. Information sharing, lending and defaults: Cross-country evidence. Journal of Banking & Finance,2002,26(10),2017-2045.
[43]Jarosz, L. Understanding agri-food networks as social relations. Agriculture and human values,2000,17(3),279-283.
[44]Jeffries, F. L., & Reed, R. Trust and adaptation in relational contracting. Academy of Management Review,2000,25(4),873-882.
[45]John, G., & Weitz, B. Forward integration into distribution:An empirical test of transaction cost analysis. Journal of Law, Economics and Organization, 1988 (4),337-355.
[46]Johnston, D., & McCutcheon, D. Effects of supplier trust on performance of cooperative supplier relationships. Journal of Operations Management,2004, 22(1),23-38.
[47]Jones, C., & Hesterly, W. A general theory of network governance:Exchange conditions and social mechanisms. The Academy of Management Review, 1997,22(4),911-945.
[48]Klapper, L. The Role of " Reverse Factoring " in Supplier Financing of Small and Medium Sized Enterprises. Background paper prepared by the Development Research Group for Rural Finance Innovations. Washington, DC: World Bank,2005,1-32.
[49]La Porta, R., & Lopez-de-Silanes, F. Legal determinants of external finance. Journal of finance,1997,52(3),1131-1150.
[50]Leat, P., & Revoredo-Giha, C. Building collaborative agri-food supply chains. British Food Journal,2008,110(4-5),395-411.
[51]Leland, H. Quacks, lemons, and licensing:A theory of minimum quality standards. The Journal of Political Economy,1979,87(6),1328-1346.
[521 Lensink, R., & Sterken, E. Asymmetric information, option to wait to invest and the optimal level of investment. Journal of Public Economics,2001,79(2), 365-374.
[53]Lensink, R., & Sterken, E. The option to wait to invest and equilibrium credit rationing. Journal of Money, Credit and Banking,2002,34(1),221-225.
[54]Louw, A., & Jordaan, D. Alternative marketing options for small-scale farmers in the wake of changing agri-food supply chains in South Africa. Agrekon, 2008,47(3),287-308.
[55]Mahoney, J. T. The choice of organizational form:Vertical financial ownership versus other methods of vertical integration. Strategic Management Journal, 1992(13),559-584.
[56]Maria, A., Perez, G., Martinez, MG., et al. From Supply Chain Network Orientation to Supply Chain Network Management. Adding Value to the Agro-Food Supply Chain in the Future Euromediterranean Space. I Mediterranean Conference of Agro-Food Social Scientists, Barcelona, Spain,2007,1-27.
[57]McDonald, R., & Siegel, D. The value of waiting to invest. The Quarterly Journal of Economics,1986,101(4),707-727.
[58]Narrod, C., D. Roy, et al. Public-private partnerships and collective action in high value fruit and vegetable supply chains. Food Policy,2009,34(1),8-15.
[59]Noorderhaven, N. Opportunism andTrust in Transaction Cost Economics. Groenewegen, J. Transaction cost economics and beyond. London:Kluwer Academic Publishers,1996,105-129.
[60]Omta, S., & Trienekens, J. Chain and network science:A research framework. Journal on Chain and Network Science,2001,1(1),1-6.
[61]Padilla, A.,& Pagano, M. Sharing default information as a borrower discipline device. European Economic Review,2000,44(10),1951-1980.
[62]Petersen, M., & Rajan, R. The effect of credit market competition on lending relationships. The Quarterly Journal of Economics,1995,110(2),407-443.
[63]Punnett, B. J. Design Field Experiments for Management Research outside North America. International Studies of Management & Organization,1988, 18(3),44-54.
[64]Rabin, M. Psychology and economics. Journal of Economics Literature,1998, 6(1),11-46.
[65]Rindfleisch, A., & Heide, J. Transaction cost analysis:past, present, and future applications. The Journal of Marketing,1997,61(4),30-54.
[66]Ring, P. S., & Van de Ven, A. H. Structuring cooperative relationships between organizations. Strategic Management Journal,1992 (13),483-498.
[67]Sauvee, L. Efficiency, Effectiveness and the Design of Network Governance. 5th International Conference on Chain Management in Agribusiness and the Food Industry, Noordwijk an Zee, The Netherlands, June 7-8,2002,(June 7-8),1-10.
[68]Schmidt-Mohr, U. Rationing versus collateralization in competitive and monopolistic credit markets with asymmetric information. European Economic Review,1997,41(7),1321-1342.
[69]Shane, S., & Cable, D. Network ties, reputation, and the financing of new ventures. Management Science,2002(3),364-381.
[70]Spence, M. Job market signaling. The Quarterly Journal of Economics,1973, 87(3),355-374.
[71]Stiglitz, J., & Weiss, A. Credit rationing in markets with imperfect information. The American Economic Review,1981,71(3),651-666.
[72]Townsend, R. Optimal contracts and competitive markets with costly state verification. Journal of Economic theory,1979,21(2),265-293.
[73]Varian, Hal R. Monitoring Agents With Other Agents. Journal of Institutional and Theoretical Economics,1990(146),153-174.
[74]Wette, H. Collateral in credit rationing in markets with imperfect information: Note. The American Economic Review,1983,73(3),442-445.
[75]Williamson, O. E. Comparative economic organization:The analysis of discrete structural alternatives. Administrative Science Quarterly,1991 (36), 269-296.
[76]Williamson, O. E. The Economic Institutions of Capitalism. Free Press, New York,1985,1-442.
[77]Williamson, O. E. The Mechanisms of Governance.Oxford:Oxford University Press,1996,1-437.
[78]Woolthuis, R., & Hillebrand, B. Trust and formal control in interorganiz-ational relationships. Eries Research in Management, Erim Report Series No. ERS-2002-13-ORG,2002.
[79]Wu, J. B., Hom, P. W., Tetrick, L. E., et al. The norm of reciprocity scale development and validation in the Chinese context. Management and Organization Review,2006,2(3),377-402.
[80]Zaheer, A., & Venkatraman, N. Relational governance as an interorganizational strategy:An empirical test of the role of trust in economic exchange. Strategic Management Journal,1995(16),373-392.
[81]Zimmer, C., & Aldrich, H. Resource mobilization through ethnic networks: Kinship and friendship ties of shopkeepers in England. Sociological Perspectives, 1987(30),422-445.
[82]Zucker, L. Production of trust:Institutional sources of economic structure. Research in organizational behavior,1986,8(1),53-111.
[83]陈军,曹远征.农村金融深化与发展评析.北京:中国人民大学出版社,2008,1-219.
[84]陈舜.不同信息结构下银行统一授信额的确定分析经济师,2006(5)246-247.
[85]陈祥锋,石代伦,朱道立.金融供应链与融通仓服务.中国物流与采购,2006(3),93-95.
[86]陈祥锋,石代伦,朱道立等.融通仓的由来、概念和发展.中国物流与采购,2005(11),134-137.
[87]陈祥锋,石代伦,朱道立等.融通仓系统结构的研究.中国物流与采购,2005(12),103-106.
[88]陈祥锋,石代伦,朱道立等.融通仓运作模式研究.中国物流与采购,2006(1),97-99.
[89]陈祥锋.供应链金融服务创新论.上海:复旦大学出版社,2008,1-270.
[90]陈晓红,陈建中.中小企业供应链融资.北京:经济科学出版社,2008,1-182.
[91]陈晓红,杨怀东.中小企业集群融资.北京:经济科学出版社,2008,1-257.
[92]陈晓萍等.组织与管理研究的实证方法.北京:北京大学出版社,2008,1-200.
[93]陈兴荣.商业银行授信管理实务.中国金融,2000(11),53-57.
[94]陈雪松.商品融资与物流监管实务.北京:中国经济出版社,2008,1-138.
[95]董晓林,吴昌景.四大担保模式化解农民贷款难题.农业经济问题,2008(9),35-39.
[96]供应链导讯网(SCLead),企业经营中不可缺失的链条:财务供应链.http://www.sc-lead.cn/article/article.asp?category_id=502&page_no=1/2007.
[97]韩俊.信贷约束下农户借贷需求行为的实证研究.农业经济问题,2007(2),44-52.
[98]韩廷春,雷颖絮.金融生态环境对金融主体发展的影响.世界经济,2008(3),71-79.
[99]胡川.产业组织演进与产权制度变迁的关联研究.武汉:武汉大学出版社,2007,1-254.
[100]胡士华,李伟毅.农村民间金融:变迁路径与政府的行为选择.农业经济问题,2004(11),28-31.
[101]胡士华.农村非正规金融发展问题研究.博士学位论文,西南大学,2007,1-163.
[102]胡小良.对农村金融产品创新缺位的调查与思考.金融与经济,2007(4),65-66.
[103]胡雄勇.对支持中小企业发展信贷模式的探索与思考.金融经济,2009(9),114-115.
[104]黄季焜,马恒运.从资金流动看改革20年农业的基础作用.改革,1998 (5),36-39.
[105]金雪军,杨晓兰.实验经济学.北京:首都贸易经济大学出版社,2006,1-345.
[106]克劳斯·E·海因里希、鲍勃·贝茨[德].适者生存--把供应链转化为适应性商务网络.北京:东方出版社,2005,18-23
[107]李怀祖.管理研究方法.西安:西安交通大学出版社,2004,1-346.
[108]李建勇,基于生命周期理论的中小企业授信管理研究.金融经济,2008(12),92-94.
[109]李庆胜,郑方敬.从信息不对称到权责不对等:和兴牧农业担保案例研究.金融发展研究,2008(11),43-45.
[110]李锐,朱喜.农户金融抑制及其福利损失的计量分析.经济研究,2007(2),146-155.
[111]李心丹.行为金融——理论及中国的证据.上海:上海三联书店,2004,1-405.
[112]李毅,向党.中小企业信贷融资信用担保缺失研究.金融研究,2008(12),179-192.
[113]李正辉等.金融生态国际竞争力促进经济增长的实证分析.金融研究,2008(4),199-206.
[114]粱鸿飞.企业融资与信用能力.北京:清华大学出版社,2007,1-343.
[115]粱鸿飞.信贷融资与民营中小企业的信用能力.北京大学学报(哲学社会科学版),2005(2),129-138.
[116]林聚胜.社会网络分析:理论、方法与应用.北京:北京师范大学出版社,2009,117-120.
[117]林毅夫,李永军.中小金融机构发展与中小企业融资.经济研究,2001(5),10-93.
[118]林毅夫.推广龙头企业担保公司缓解三农问题.http://business.sohu.com/ 20050330/n224932660.shtml,2005.3.3.
[119]林永军.金融生态建设:一个基于系统论的分析.金融研究,2005(8)44-52.
[120]龙游宇.信用的博弈演化研究.博士学位论文,西南财经大学,2004,1-222.
[121]卢纹岱.SPSS for Windows统计分析(第3版).第3版,北京:电子工业出版社,2007,1-700.
[122]罗伯特.吉本斯[美].博弈论基础.高峰译.北京:中国社会科学出版社,1999,1-199.
[123]罗杰B.迈尔森[美].博弈论:矛盾冲突分析.费剑平,于寅译.北京:中国经济出版社,2001,1-3.
[124]马九杰.社会资本与农户经济:信贷融资·风险处置·产业选择·合作行动.北京:中国农业科学出版社,2008,1-286.
[125]马克.格兰诺维特[美].镶嵌:社会网与经济行动.罗家德译.北京:社会科学出版社,2007,1-191.
[126]马庆国.管理统计学——数据获取、统计原理、SPSS工具与应用研究.北京:科学出版社,2002,1-393.
[127]苗青.管理学研究方法的新思路:基于准实验设计的现场研究.浙江大学学报(人文社会科学版),2007(6),74-75.
[128]培顿·扬(Young, H. P.)[美].个人策略与社会结构:制度的演化理论.杨勇译.上海:上海三联书店,2004,1-236.
[129]奇达夫,蔡文琳[英].社会网络与组织.王凤彬,朱超威等译.北京:中国人民大学出版社,2007,1-208.
[130]青木昌彦[日].比较制度分析.周黎安译.上海:上海远东出版社,2001,1-439.
[131]邱皓政,林碧芳.结构方程模型的原理与应用.北京:中国轻工业出版社,2009,1-437.
[132]荣泰生.AMOS与研究方法.重庆:重庆大学出版社,2003,1-192.
[133]阮建青.基于产业集群模式的农村工业化萌芽与成长机制研究.博士学位论文,浙江大学,2009,1-162.
[134]芮明杰.网状产业链的构造与运行:基于模块化分工与知识创新的研究.上海:格致出版社,2009,1-223.
[135]深圳发展银行与中欧国际工商学院“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,2009,3-167
[136]石伟.社会资本与企业行为选择——一个理论框架及其在中国情境中的实证检验.北京:北京大学出版社,2006,1-216.
[137]宋炳方.商业银行供应链融资业务.北京:经济管理出版社,2008,1-304.
[138]宋炳方.商业银行供应链融资业务.经济管理出版社,2008,1-304.
[139]宋辅良.泰安:信用共同体的金融生态驱动力.金融时报,2008年11月13日.
[140]宋胜洲.基于知识的演化经济学:对基于理性的主流经济学的挑战.上海:上海世纪出版集团,2008,1-271.
[141]速水佑次郎[日].发展经济学:从贫穷到富裕.北京:社会科学文献出版社,2003,283-300.
[142]唐秀芳,唐永习.仓单质押贷款——冀州市联社支农服务的新亮点.http://www.hebnx.com/jingyingguanli/2010/0728/4328.html.
[143]王凡.现场实验的内部和外部效度——兼与实验室实验的效度比较.心理 科学,2008(7),932-935.
[144]王光石,马宁,李学伟.供应链金融服务模式的探讨.可持续发展的中国交通——2005全国博士生学术论坛(交通运输工程学科)论文集(上册),2005,588-592.
[145]王景新,李玲.苏浙农村资金互助合作组织的调查与思考.中国集体经济,2009(11),14-16.
[146]王霄,张捷.银行信贷配给与中小企业贷款——一个内生化抵押品和企业规模的理论模型.经济研究,2007(7),68-92.
[147]王重鸣.心理学研究方法.北京:人民出版社,2001,1-313
[148]文远华.中国经济转型时期信贷配给问题研究.博士学位论文,中国社会科学院研究生院,2003,1-166.
[149]闻喻.农产品供应链案例研究.北京:中国农业科学出版社,2008,1-137.
[150]吴明隆.结构方程模型——AMOS的操作与应用.重庆:重庆大学出版社,2009,1-520.
[151]谢德仁和仁,张高菊..金融生态环境、负债的治理效应与债务重组:经验证据[J].金融研究,2007(12),43-97
[152]谢敏,李冬.对中国农业信贷风险问题的探究农业经济问题,2001(8),27-31.
[153]辛德树,刘学忠,兰澄世.农村信贷“中介——担保人”问题的制度经济学解说.农业经济问题,2005(12),46-47.
[154]熊学萍,阮红新,汪晓银.农户金融行为与融资需求的实证分析——基于湖北省天门市198个样本农户的调查.农业技术经济,2007(7),85-94.
[155]徐诺金.论我国的金融生态问题.金融研究,2005(2),35-45.
[156]徐晓萍,李猛.商业信用的提供:来自上海市中小企业的证据金融研究,2009(6),161-174.
[157]闫俊宏.供应链金融融资模式及其信用风险管理研究.硕士学位论文,西北工业大学,2007,1-84.
[158]严进.信任与合作——决策与行动的视角.北京:航空工业出版社,2007,1-306.
[159]杨静.供应链内企业间信任的产生机制及其对合作的影响.博士学位论文,浙江大学,2006,1-3.
[160]杨连波.现代农村经济呼唤金融产品创新.农村经济,2007(7),57-58.
[161]杨瑞龙,杨其静.企业理论:现代观点.北京:中国人民大学出版社,2005,1-268.
[162]杨绍辉.从商业银行的业务模式看供应链融资服务.物流技术,2005(10),179-182.
[163]姚莉.全球化和网络化下的金融服务革命.上海金融,2005(6),8-10.
[164]叶蜀君.信用风险的博弈分析与度量模型.北京:中国经济出版社,2008,1-290.
[165]约翰.斯科特[英].社会网络分析法.刘军译.重庆:重庆大学出版社,2007,1-176.
[166]张杰.中国农村金融制度:结构、变迁与政策.北京:中国人民大学出版社,2003,79.
[167]张敏.基于核心企业的农产品供应链分析.物流技术,2004(5),91-93.
[168]张维迎,邓峰.信息、激励与连带责任——对中国古代连坐、保甲制度的法和经济学解释中国社会科学,2003(3),99-112.
[169]张维迎.博弈论与信息经济学.上海:上海人民出版社,2004,1-2.
[170]张忠根.农业经济学.杭州:浙江大学出版社,2010,73-260.
[171]章元.非对称信息下的团体贷款研究.博士学位论文,复旦大学,2004,15-30.
[172]章元.团体贷款为何如此成功农村金融研究,2004(5),27-30.
[173]赵建,霍佳震.不依赖于核心企业的订单融资模式研究.昆明理工大学学报(社会科学版).2009(12),62-65.
[174]赵祥.产业集群与中小企业融资机制——基于广东产业集群的制度分析.北京:经济科学出版社,2008,1-198.
[175]中国人民银行张家界市中心支行课题组.金融生态的层次结构与金融资源均衡配置:张家界个案分析.金融研究,2005(11),162-163.
[176]中国银行业协会与全国地方金融论坛办公室.服务中小企业与三农特色金融产品.北京:中国金融出版社,2009,38-259.
[177]钟颉.融通仓在外贸交易中的应用.中国物流与采购,2006(2),92-94.
[178]周立.三次农村金融改革评述.银行家,2006(3),35-39.
[179]周小川.完善法律制度,改进金融生态.金融时报,2004年12月7日.
[180]周中胜,罗正英.企业家异质性特征对信贷融资影响的实证研究——基于非国有控股的中小企业的检验.财贸经济,2007(13),75-84.
[181]朱·弗登博格[美],让·梯若尔[法].博弈论.黄涛等译.中国:中国人民大学出版社,2002,1-504.
[182]朱娟,胡定寰.现代化的农产品供应链对我国小农户贷款行为的影响.农业经济问题,2007(1),140-143.
[183]左臣明,王莉.信息不对称,非正规金融与农村金融改革.调研世界,2006(2),32-34.