第四方物流参与的融通仓模式及其激励监督机制研究
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摘要
融资难历来是制约中小企业发展的“瓶颈”,尤其在当前金融危机背景下资金短缺已成为众多中小企业生存发展的最大障碍。融通仓的出现为解决中小企业融资难题提供了一条有效的途径,因此研究融通仓模式具有非常重要的现实意义。
论文在前人研究基础上,首先深入分析开展融通仓的可行性、仅有第三方物流参与融通仓的不足及第四方物流参与的优势,然后从参与各方相互关系出发,提出委托模式、统一授信模式、共同委托模式和联盟模式(银行和物流企业)四种基于第四方物流参与的融通仓运作模式,同时比较每种模式的特点并结合具体案例进行了分析。最后,针对融通仓有效运作的一个关键问题——银行如何促使物流企业努力工作以最大限度控制风险进行研究,运用委托代理理论,研究信息不对称下银行对物流企业的激励监督机制,得到结论:在激励基础上进行必要的监督,可促使物流企业更加努力地工作;银行存在一个愿意监督的条件—“愿意监督集”及最优的监督水平。论文进一步完善和发展了融通仓理论,研究结论有利于防范物流企业道德风险、提高银行开展融通仓的积极性及融通仓在实际中的应用。
论文的创新之处有:在分析仅有第三方物流参与融通仓不足的基础上,提出第四方物流参与融通仓业务并分析其参与的可行性,同时给出委托、统一授信、共同委托及联盟四种基于第四方物流参与的融通仓运作模式;为了有效开展融通仓、降低其运作风险,将传统委托代理理论引入到融通仓中银行促使物流企业努力工作的问题上,建立的激励模型考虑了银行的监督成本,讨论不同监督力度对物流企业努力水平、激励系数、固定报酬及代理成本的影响。
Financing is one of the conventional bottlenecks in the development of the small and medium-sized enterprise (SME), and the fund shortage has become the biggest obstacle to many SME’s survival and development under the circumstances of the financial crisis. Finance、Transportation and Warehouse (FTW) is a effective solution to solve this problem. Therefore, it is of great realistic significance to research on FTW modes.
First of all, based on former research, this paper analyzes in depth the feasibility of developing FTW、the shortcomings of the FTW model in which only the third party logistics (3PL) participates and the advantages of the fourth party logistics (4PL) taking part in FTW. Then, from the perspective of mutual relation of all parties, the paper puts forward four FTW models based on the participation of 4PL, which are respectively Principal-Agent Mode、United Credit Mode、Common Principal-Agent Mode and Alliance Mode, analyze and compare the characteristics of four models combining the theory with practice. Finally, we study on one of the key problems on the operation of FTW --how does the bank urges the logistics enterprise to work diligently in order to reduce the risk by the greatest extent. We apply the Principal-agent theory to study the bank’s incentive and supervision mechanism for logistics enterprises under asymmetry information, and come to a conclusion which shows that the bank can prompt the logistics enterprises to work harder by supervising necessarily on the basis of incentive. As a precondition, the banks must have“principles would like to supervise”as well as the optimal level of supervision. The paper further perfects and develops the theory of FTW, and the conclusions is useful for avoiding the logistics enterprise’s moral risk and improving banks’initiative to participate in FTW as well as the application of FTW.
The main innovations of this paper are as follows: based on the analysis of the shortcomings of the FTW model in which only the third party logistics (3PL) participates, the paper puts forward the opinion of admitting 4PL to participate in the operation of FTW, analyzes its possibility, and brings forward four FTW models based on the participation of 4PL, which are respectively Principal-Agent Mode、United Credit Mode、Common Principal-Agent Mode and Alliance Mode; In order to operate FTW effectively and reduce its risk, the paper applies the Principal-agent theory to the problem of the bank urging the logistics enterprises to work harder; The model considers the cost of bank supervision, discusses the effect of different supervision levels on the logistics enterprise’s effort levels, encouraging factor, fixed remuneration and agency costs.
论文在前人研究基础上,首先深入分析开展融通仓的可行性、仅有第三方物流参与融通仓的不足及第四方物流参与的优势,然后从参与各方相互关系出发,提出委托模式、统一授信模式、共同委托模式和联盟模式(银行和物流企业)四种基于第四方物流参与的融通仓运作模式,同时比较每种模式的特点并结合具体案例进行了分析。最后,针对融通仓有效运作的一个关键问题——银行如何促使物流企业努力工作以最大限度控制风险进行研究,运用委托代理理论,研究信息不对称下银行对物流企业的激励监督机制,得到结论:在激励基础上进行必要的监督,可促使物流企业更加努力地工作;银行存在一个愿意监督的条件—“愿意监督集”及最优的监督水平。论文进一步完善和发展了融通仓理论,研究结论有利于防范物流企业道德风险、提高银行开展融通仓的积极性及融通仓在实际中的应用。
论文的创新之处有:在分析仅有第三方物流参与融通仓不足的基础上,提出第四方物流参与融通仓业务并分析其参与的可行性,同时给出委托、统一授信、共同委托及联盟四种基于第四方物流参与的融通仓运作模式;为了有效开展融通仓、降低其运作风险,将传统委托代理理论引入到融通仓中银行促使物流企业努力工作的问题上,建立的激励模型考虑了银行的监督成本,讨论不同监督力度对物流企业努力水平、激励系数、固定报酬及代理成本的影响。
Financing is one of the conventional bottlenecks in the development of the small and medium-sized enterprise (SME), and the fund shortage has become the biggest obstacle to many SME’s survival and development under the circumstances of the financial crisis. Finance、Transportation and Warehouse (FTW) is a effective solution to solve this problem. Therefore, it is of great realistic significance to research on FTW modes.
First of all, based on former research, this paper analyzes in depth the feasibility of developing FTW、the shortcomings of the FTW model in which only the third party logistics (3PL) participates and the advantages of the fourth party logistics (4PL) taking part in FTW. Then, from the perspective of mutual relation of all parties, the paper puts forward four FTW models based on the participation of 4PL, which are respectively Principal-Agent Mode、United Credit Mode、Common Principal-Agent Mode and Alliance Mode, analyze and compare the characteristics of four models combining the theory with practice. Finally, we study on one of the key problems on the operation of FTW --how does the bank urges the logistics enterprise to work diligently in order to reduce the risk by the greatest extent. We apply the Principal-agent theory to study the bank’s incentive and supervision mechanism for logistics enterprises under asymmetry information, and come to a conclusion which shows that the bank can prompt the logistics enterprises to work harder by supervising necessarily on the basis of incentive. As a precondition, the banks must have“principles would like to supervise”as well as the optimal level of supervision. The paper further perfects and develops the theory of FTW, and the conclusions is useful for avoiding the logistics enterprise’s moral risk and improving banks’initiative to participate in FTW as well as the application of FTW.
The main innovations of this paper are as follows: based on the analysis of the shortcomings of the FTW model in which only the third party logistics (3PL) participates, the paper puts forward the opinion of admitting 4PL to participate in the operation of FTW, analyzes its possibility, and brings forward four FTW models based on the participation of 4PL, which are respectively Principal-Agent Mode、United Credit Mode、Common Principal-Agent Mode and Alliance Mode; In order to operate FTW effectively and reduce its risk, the paper applies the Principal-agent theory to the problem of the bank urging the logistics enterprises to work harder; The model considers the cost of bank supervision, discusses the effect of different supervision levels on the logistics enterprise’s effort levels, encouraging factor, fixed remuneration and agency costs.
引文
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[2]王勇,邓哲锋,徐鹏.基于参与各方相互关系的融通仓运作模式研究[J].华东经济管理,2010,24(2):128-132.
[3] Armbruster William. 4PL Cover Story[J]. JoC Week,2002,06:24-30.
[4] Laurie,S. Distributors tangle with 4PLs for market share[J]. EBN, 2003, 1344:1-2.
[5] Simon,R. Fouth party politics[J]. Frontline Solution Europe, 2003,12(5):14-16.
[6] John,L. 3PL/4PL-Where Next? [J]. Logistics & Transport Focus, 2004,6(3):18-21.
[7] Stephen,T. Now there are real 4PL possibilities[J]. Supply Chain Europe, 2004,13(5):16-18.
[8]韩立清.外包、供应链集成与第四方物流[J].数量经济技术经济研究,2003(7):154-157.
[9]刘源.建立我国第四方物流新模式的探讨[J].郑州航空工业管理学院学报,2001, 9(3):37-39.
[10]宋华.整合供应链服务提供商—第四方物流[J].经济理论与经济管理,2003(8):40-44.
[11]杨宝军,李华增.第四方物流剖析[J].工业工程与管理,2003(3):49-52.
[12] Visser Evert-Jan.Developing 4th party services:Empirical evidence on the relevance of dynamic transaction-cost for analyzing a logistic system innovation.August 2004.http://econ. geog.uu.nl/visser/visser.heml.
[13]李秀,应维云等.第四方物流的体系结构和运作模式研究[J].计算机集成制造系统,2004,10(10):1233-1237.
[14]赵广华.第四方物流的运作模式探析[J].财贸经济,2004,10:71-73.
[15]戴勇.虚拟物流企业联盟的构建与管理[D].上海海运学院博士学位论文,2002.
[16]李芳,乞建勋,牛东晓,苑秀娥.虚拟物流企业技术框架体系的构建[J].华北电力大学学报,2004,5:74-77.
[17] Li Xiu, YING Weiyun, LIU Wenhuang, HUANG Biqing. The Decision optimization model of 4PL, IEEE international conference on SMC. 2003, Volume 2, 58, Oct.2003.pp838-842.
[18]田宇.物流服务供应链构建中的供应商选择研究[J].系统工程理论与实践,2003,5:49-53.
[19]姚建明,钟颉,张秀敏,刘丽文. 4PL模式下的供应链资源整合决策机制研究[J].科学学与科学技术管理,2007,03:19-25.
[20]姚建明,刘丽文. 4PL模式下的供应链资源整合决策分析[J].系统工程,2007,4:1-8.
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