On Loan-to-value Ratio of Inventory Financing under Static Pledge and Dynamic Pledge Fashion
Given the price of pledged inventory follows geometric Brownian motions,the paper implements risk estimation strategies ofmain body+ debtand comparatively analyzes loan-to-value ratio decision of banks under static pledge and dynamic pledge fashion.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 inventory at the end of the loan may be acquired,analytic result of loan-to-value ratio in static pledge fashion can be solved; if the price of pledged inventory follows geometric Brownian motions,the largest loan-to-value under dynamic pledge fashion is determined.
finance loan-to-value ratios inventory financing logistic financing
Yixue Li
School of Statistics.Jiangxi University of Finance and Ecomonics Nanchang,China,330013
国际会议
北京
英文
2008-10-12（万方平台首次上网日期，不代表论文的发表时间）