区块链技术驱动下的供应链金融运作管理创新研究

Block chain supply chain finance (referred as BCSCF) is becoming an important force to promote the supply-side reform of financial industry and promote the construction of inclusive finance. It has great theoretical value and practical significance to study the operation management innovation of BCSCF. This project chooses several key themes in the process of BCSCF operation to carry out research. The research themes conclude that: the modeling and parameter design of BCSCF; capital market competition and applicability analysis of BCSCF; risk management mechanism design of BCSCF; alliance cooperation mechanism design of BCSCF; empirical study and case analysis of BCSCF.This project has major theoretical innovation as follows from the point of a quantitative analysis view, the BCSCF operation management model will be designed and built, the parameter setting mode of the BCSCF products will be given; The applicable conditions and improvement strategies of BCSCF under the environment of capital market competition will be given; The risk management mechanism for BCSCF will be designed; The alliance cooperation mechanism between the core enterprise and the financial institution, the coordination mechanism of the whole BCSCF system will be analyzed and build by using the combination of cooperative game and non-cooperative came analysis methods; The financial practice innovation of BCSCF will be promoted through empirical research and case study. The research conclusions will provide theoretical basis and decision-making reference for promoting the new and old kinetic energy conversion and high-quality and high-efficiency development of BCSCF; and is of great significance and importance to the advancement of BCSCF theory and applications.

区块链供应链金融正成为推动金融产业供给侧改革，助力普惠金融建设重要力量，研究区块链供应链金融运营管理创新具有极高的理论价值和实践意义。课题选取区块链供应链金融运作过程中几个关键主题开展研究—区块链供应链金融建模及参数设计；资本市场竞争与区块链供应链金融适用性分析；区块链供应链金融风险管理机制、联盟合作机制设计、实证及案例分析等。研究主要创新在于：从定量角度设计并建立区块链供应链金融运作管理模型，给出融资产品参数设计方式；给出资本市场竞争环境下区块链供应链金融适用条件及改进策略；设计适用于区块链供应链金融的风险管理机制；通过合作博弈与非合作博弈结合方法分析并建立核心企业及金融机构间联盟合作机制、区块链供应链金融系统整体协调机制等；通过实证及案例研究推动区块链供应链金融实践创新。研究结论对于推动供应链金融新旧产能转换和高质量、高效率发展提供了理论依据和决策参考，具有重要理论创新及广泛应用前景。

区块链技术与供应链金融的深度融合对于解决中小企业贷款融资难、银行风控难、部门监管难等问题意义重大。项目面向区块链供应链金融运营中的重大需求和关键问题展开研究。分别设计供应链各层级企业资金约束时的区块链供应链金融运营模型并开展最优决策分析；比较传统供应链金融和区块链供应链金融模式，并给出区块链供应链金融的优势区间及适用条件；开展区块链供应链金融风险分析并设计风险分担机制；研究区块链供应链金融的联盟合作方法，开展相关新兴产业商业模式创新实证和案例研究；围绕决策者风险偏好、融资模式选择冲突等主题开展拓展性研究。研究结果表明：(1) 需求不确定风险影响下的下游资金约束供应链中，当资金时间价值较高时，区块链供应链金融为供应链创造的价值高于传统供应链金融；(2) 需求中断风险影响下的下游资金约束供应链中，随着零售商初始资金的降低和产品制造成本的增加，区块链供应链金融优势凸显；(3) 在上游资金约束的供应链中，当产品制造成本较低时，区块链供应链金融优于传统供应链金融；(4) 采用传统风险分担机制加重了供应链双重边际效应，合理设计风险分担比例有助于实现供应链效率提升和各方共赢；(5) 在强技术不确定性环境下，技术学习是实现区块链供应链金融等新兴商业模式创新成功的重要动力。研究成果为区块链供应链金融参与者制定运营和金融联合决策提供了借鉴，同时给出了区块链供应链金融模式的适用条件和风险控制方法等。项目取得了较为丰硕的科研成果，累计在《经济管理出版社》出版学术专著1部，发表科研论文21篇，大部分成果发表在《Decision Sciences》《Transportation Research Part E: Logistics and Transportation Review》《International Journal of Production Research》《系统工程理论与实践》《中国管理科学》等FMS重要期刊。成果累计被引用150余次，被“欧亚系统科学研究会”等官方公众号刊载推介，以多种形式惠及数十家部门和企业，产生了较大的学术价值和社会贡献。