阎启俊的儿子,小学英语课堂视频,望谟三月三
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2.1 Importance of supply chain finance to SMEs
Tang and Ren (2010), Yang (2013), Xia and Jin (2011) figured that supply chain finance can alleviate the financing problems of SMEs, on the one hand because of the intervention of banks, it make cooperation of enterprises of a supply chain be more closely, and close cooperation strengthens the trust between both parties, so that the downstream enterprises obtain goods by virtue of their own commercial credit, ultimately the downstream enterprises reduce the amount of financing (Tang and Ren, 2010; Yang 2013); on the other hand, Considering supply chain finance services and risk, commercial banks are more concerned about the overall trade risk of a supply chain (Tang and Ren, 2010; Xia and Jin, 2011), even if a single enterprise can not reach some of the risks control standards of the banks, as long as the business between the enterprise and its core enterprises is stabile, the banks can credit the business and contribute to the realization of the entire transaction, rather than completely dependent on the risk evaluation on the financial standing of the enterprise, like what traditional credit usually does (Tang and Ren, 2010; Xia and Jin, 2011).
2.2 China's supply chain finance model
He and Tang (2012), Zhang and Xie (2010), Yin (2009) believed that, after ten years of development, China's supply chain finance is basically solidified into three models: first, banks are based on record of transactions between core enterprises and their upstream, downstream enterprises to provide online financing support for SMEs, making use of bank credit to enhance business credit, which facilitates the effective development of corporate finance and commercial transactions (He and Tang, 2012; Xia and Jin, 2011). Second, third-party trading platforms are through providing upstream and downstream enterprises of supply chain logistics warehousing and other services to grasp the transactions, logistics, cash flow and other related data of the enterprises, according to the assessment results to provide supply chain financial services (He and Tang, 2012; Zhang and Xie, 2010; Yin, 2009). Third, core enterprises of a certain industry chain have strong industrial chain control ability and high bank credit lines. In this context, core enterprises grasp capital flow of the upstream suppliers and downstream distributors, logistics, the business flow, information flow, and then grasp the operations of the upstream and downstream enterprises, taking their credit lines as the guarantee to provide financing services to the upstream and downstream enterprises to improve the operating efficiency of the entire industry chain (He and Tang, 2012; Yin, 2009).
2.3 Discussion
Judging from the above literatures, supply chain finance can alleviate the financing problems of SMEs, but it is worth noting that supply chain finance developed in China for about 10 years, but the financing difficulties of SMEs have not been effectively alleviated. This shows that there has not been a good match between supply chain finance model and the actual needs of SMEs. This study starts from the real financing needs of SMEs to understand the specific operation mode of supply chain finance in China's SMEs, through analyzing the conflicts between the two and understanding the old and new risks in current implementation of supply chain finance to recommend on how China's supply chain finance better meet the real financing needs of SMEs.
3.0 Methodology
3.1 Research philosophy
Positivism figures that the world is real and it is observable (Creswell, 2009). Those who want to understand the world must observe it by all sorts of information collected, the information is mainly quantitative data, through a value-neutral, scientific and objective processing of the data to get the understanding of the world (Cooper and Schindler, 2006); human society has an objective regularity as what the nature has, it is not transferred by human will and human society can recognize it through scientific methods to form a universal law (Cooper and Schindler, 2006; Collis and Hussey, 2003).
Interpretivism believes that the world is objectively constructed by people, without human subjective factors, objective world does not exist; as the world is constructed by people, the statement of objective law does not exist, the most important thing is to explore why people build the world, since the world is built, then the world should be different and people should not find the general law, but to find the differences between the world and its hidden meaning (Creswell, 2009; Collis and Hussey, 2003).
In short, positivist epistemology holds that there is a universal law of social development, and the law is not transferred by human will, people should discover and verify these laws through empirical research. And interpretivism figures that there is not universal law for development of the society, researchers should be in its special context, through scientific research methods to explain, deconstruct or reconstruct people's experience and views. This study aims to study the supply chain finance problems which are prevalent in China's SMEs, rather than supply chain finance problems of a single or several SMEs. Therefore, it is proper to adopt positivist research philosophy in this study.
3.2 Research approach
In this research, it will make use of a quantitative research method. Quantitative research is generally used to determine the quantity of a certain aspect of a thing (Neuman, 2000). It mainly uses investigation, observation, experiment, statistics and other methods to observe phenomenon, it has high requirements for the tightness, objectivity, value neutrality of research to get objective facts. In this paper, quantitative research is used to determine the scientific research of certain aspects of things (Saunders, Lewis and Thornhill, 2009). The value of neutrality brings forward strict demands for having an access to objective facts. Quantitative research often makes uses of data to describe social phenomena, through a deductive ways to predict theories, following by collecting data, evidence to assess or validate theories, models, hypotheses that was expected before carrying out the research (Creswell, 2009).
Deduction approach refers to the way of thinking that people take theoretical understanding that reflects objective law as the basis to deduce the unknown part of a thing from the known part (Creswell, 2007). It is from the general to the individual to recognize things. Based on the steps of deductive methods, it is first through literature review to determine the research questions and research hypothesis of this study, including to understand what the supply chain finance of China's SMEs needs, what the risks are; what the reasons for the existence of the risks and so on. And then, it will design questionnaire, and then rely on the questionnaire to collect information, through quantitative analysis to verify whether the research hypothesis is correct.
3.3 Research type
This study belongs to the category of explanatory research. Explanatory research is based on certain propositions or hypothesis, through deductive methods to explore the correlation or causality between things (Cooper and Schindler, 2006). Explanatory research focuses on the interpretation of the characteristics, internal relations, and laws of the phenomena or things studied (Sadhu and Amarjit, 1980). This interpretation is based on guidance of theory, based on collection, statistics and analysis of information to achieve the purpose. Based on the explanatory research process and relevant theory, it forms the research hypothesis.
3.4 Data selection
In this study, it will be through questionnaire to collect first-hand data for analysis and discussion, the authenticity and timeliness of first-hand data is better than that of second-hand data, it can let the author have a true understanding of the current Chinese SMEs’ status and problems in the supply chain finance.
Questionnaire will be used to collect quantitative data. Benefits of using questionnaire lies in that it help researchers in a short time to spend less manpower and financial resources to collect data on research objects, and questionnaire is a structured survey, it is impossible for any individual, whether it is a researcher, or an investigator to bring subjective bias to investigation (Collis and Hussey, 2003). What’s more, results of questionnaire facilitate statistical analysis, so that researchers can obtain the desired research conclusions through data analysis. However, as questionnaires are finished by respondents themselves, so the quality of the survey results is often not guaranteed
3.5 Research tools and samples
In study, financial management of SMEs in China will be taken as the survey respondents, because they understand China's relevant financial policies, China's supply chain finance status and problems, what China's SEMs needs for supply chain finance and the difficulties they face in financing. In this study, SMEs in China's Zhejiang Province and Guangdong Province will be taken as the research objects, because the number of SMEs in these two regions is the most, and they profit most, data show that about 36% of China's SMEs are in these two provinces. By virtue of the author’s personal relationship, the author will contact with the SME Service Center of the Guangdong Province and Zhejiang Province. The author believes that with their help, he can get their help to contact with the financial management of the SMEs by e-mail contact, after getting the consent of the person in charge, the author can carry out the questionnaire survey.
The questionnaire is expected to issue 150 copies. The random sampling method will be used to determine the survey objects. According to Chung and Tan’s (2017) research, China's SMEs are divided into manufacturing, science and technology, logistics, retail agriculture types, 30 SMEs will be selected as the research objects by random sampling method from SEMs of each above-mentioned type to conduct a questionnaire survey. The questionnaire includes four parts. The first part mainly introduces the research purpose of this investigation, the method of filling out the questionnaire and declaration of ensuring the privacy of research objects, as well as avoiding use it for other commercial purposes. The second part of the survey is to investigate the needs of SMEs for supply chain finance. Third part is to understand the difficulties that China's SMEs meet in using supply chain finance in financing, How they carry out supply chain financing. The fourth part is to explore these SMEs’ status quo of their own financial operation, which will be used to analyze why Chinese SMEs have many difficulties in using supply chain finance for financing, as well as what the risks of supply chain finance are. The fifth part will investigate the industry background, the number of years of establishment, the size of the factory of the SMEs, and so on. Answers to the questions of the questionnaire will be represented by making use of Likertscale method, “1” represents “strongly disagree”, “5” represents “strongly agree”. |
