需求随机时的存货质押融资质押量决策研究

摘要

研究了在需求随机波动的情况下,融资企业最优存货质押量决策问题和融资企业违约问题,并分析了质押率、存货质押贷款利率、存货质押贷款期限等因素对最优存货质押量的影响,以及存货质押量对融资企业违约概率的影响.研究表明,存货质押量将随着质押率、质押贷款利率和贷款期限的增大而减小.最后,通过数值算例验证了文章的结论.%The decision of the optimal loan-to-value quantity and enterprise default problem are analyzed under a random fluctuation of demand. Then the influence of loan-to-value ratio, interest rate and loan term over the opti mal loan-to-value quantity are analyzed. The influence of loan-to-value quantity over the probability of enterprise default is analyzed in succession. The loan-to-value quantity has the contrary change trends to the loan-to-value in terest rate, interest rate and load term. Finally, the numerical study is given to demonstrate the conclusions.