关键词: 供应链金融, 订单农业, 组合信贷

Abstract: Agriculture is the foundation of the national economy,but there have been many difficulties with agricultural financing. Agricultural supply chain finance provides a new financing way for the agricultural modernization and promotes the development of agriculture. Considering the bankruptcy risk of farmers, the randomness of output and the uncertainty of market demand, this paper establishes a decision-making model of order agriculture supply chain composed of a single company and a single farmer with capital constraints,and analyzes the optimal decision-making behavior of the company and the farmer under different financing modes. The results show that under the bank credit, the increase of bank interest rate will reduce the farmers' income. But in the portfolio credit, this result is not invariable, too high or too low corporate interest rate and bank interest rate will damage the farmers' income. When the company interest rate is greater than the bank interest rate and the growth cycle of agricultural products is long or when the company interest rate is less than the bank interest rate and the growth cycle of agricultural products is short, the farmer can choose the bank credit to obtain the optimal income when the bank interest rate is small, and the farmer should choose trade credit when the bank interest rate is large. In other cases, the farmer needs to consider factors such as the price sensitive coefficient to decide whether to choose the combination of credit model.

Key words: supply chain finance, contract-farming, mix credit finance