%0 Journal Article
%T Research On Loan-to-value Ratio of Inventory Financing under Randomly- fluctuant Price<br>价格随机波动下存货质押融资业务质押率研究
%A LI Yi-xue
%A FENG Geng-zhong
%A XU Yu
%A <br>李毅学
%A 冯耕中
%A 徐渝
%J 系统工程理论与实践
%D 2007
%I 
%X Given the price of the pledged stock is fluctuant randomly,the paper implements risk estimation strategies of "main body debt" and analyzes loantovalue ratio decision of banks with downside risk constraint when price distribution of the stock at the end of the loan follows general distribution and several special distributions.Based on these theory results,the case about inventory financing developed by banks and cooperating logistic firms is analyzed.The study shows: if price distribution of the stock at the end of the loan may be acquired,analytic result of loan-to-value ratio in static pledge fashion can be solved.
%K finance
%K loan-to-value ratios
%K credit risk management
%K inventory financing
%K logistic financing<br>金融学
%K 质押率
%K 信用风险管理
%K 存货质押融资
%K 物流金融
%U http://www.alljournals.cn/get_abstract_url.aspx?pcid=01BA20E8BA813E1908F3698710BBFEFEE816345F465FEBA5&cid=962324E222C1AC1D&jid=1D057D9E7CAD6BEE9FA97306E08E48D3&aid=5A30C321094BCF0E6B8CA8A23A08E70E&yid=A732AF04DDA03BB3&vid=DB817633AA4F79B9&iid=59906B3B2830C2C5&sid=ECE8E54D6034F642&eid=B6DA1AC076E37400&journal_id=1000-6788&journal_name=系统工程理论与实践&referenced_num=8&reference_num=12