Date of Award

2006

Document Type

Dissertation

Degree Name

Master of Science in Maritime Affairs

Specialization

International Transportation & Logistics

Campus

Shanghai, China

Country

China

First Advisor

Gang, Zhao

Abstract

Warehouse receipt hypothecating as a financing mode was introduced to China just few years. In recent years it develops very fast with the third-party logistics Corporation’s rapid growing up. Logistics Corporation as a middleman creates a cooperative platform for bank and small-sized enterprise, evaded the financing risks and resolves the problem of unperfected credit system effectively in China in future long period. This dissertation is concerned with characteristics, operating mode, triple agreement and risk management of warehouse receipt hypothecating. The primary work of this study is to optimize content of agreement, make proposals of improving operating mode and increase in efficiency as well as take effective measures to evaluate and control risks. It starts with a general introduce of warehouse receipt hypothecating. An overview of the development of warehouse receipt hypothecating, status quo and its bottlenecks for three participants are provided. An analysis of selective advantages and disadvantages of warehouse receipt hypothecating is presented in order to probe deep and understand the heart of this business better. This dissertation puts more effort into improvement of operating mode, agreement designing, risk controlment and evaluation of hypothecating rate using VAR model. The findings of the empirical and theoretical study indicate that if only taking proper measures of risk management, warehouse receipt hypothecating is a low-risk financing mode.

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