Optimal Strategies for Inventory Financing with Capital Constrained

doi:10.3969/j.issn.1007-7375.e15-2524

Abstract

Abstract: Considering the small and medium manufacturing enterprises holding the goods while borrowing money from the financial institutions for more output with the inventory financing, a logistics finance system consisting of a bank, a manufacturing firm (financing firm) and a logistics company is designed. In the light of the capital constraint and the endogenous default, a research is conducted respectively on the optimal interest rate and loan-to-value ratio of commercial bank, the optimal financing policy and the production policy of the manufacturing firm. It is indicated that the loan-to-value ratio and interest rate play an important role in the inventory financing with inventory financing as a kind of management method to achieve a win-win situation for all members.

Key words: loan-to-value ration, logistics finance, capital constraint, inventory financing

CLC Number:

F274
C93

CHAI Zhengmeng, DUAN Lili. Optimal Strategies for Inventory Financing with Capital Constrained[J]. Industrial Engineering Journal , 2017, 20(1): 44-50,64.

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