The receivables arose after small and medium-sized logistics enterprises supplied manufacturer with services, which influenced the operations of the logistics enterprises. In order to alleviate the capital pressure of small and medium-sized logistics enterprises and promote the sustained and good development of supply chain, in this paper, we take the financing advantage of supply chain finance and design the model of receivables financing of small and medium-sized logistics enterprises based on the supply chain finance theories, using the Stackelberg model and inferring the optimal pricing and the optimal profit of the bank and the Small and medium-sized logistics enterprises, And carry out data simulation. All these can provide the small and medium-sized logistics enterprises with a cost-effective financing program.

A company's performance significantly depends on how well a company manages its finances keeping in view the short term hurdles and long term goals. One objective of financial statement analysis is to determine firm value. Research suggests that a firm's value is a function of the expected future growth and profitability of the firm (e.g., . The purpose of this study is to assess the performance of the top players in the Indian FMCG industry and benchmark the best player's actions in different scenarios to be the best practice in the industry. The author mainly concentrates on which company stood in what place in tacking different finance constraints of supply chain. Inputs and outputs are strategically selected to show cases ranging from short term transfers to company capital structure. The results show that each company is good at different cases and they did earn them with good management. Also it is evident that company that has been managing its finances well was rewarded with a good market share.

Executive Summary
The aim of this report is to evaluate the business environment of the Chinese automobile industry with particular reference to Chery automobile company. These gives a brief review of BRICS (acronyms for Brazil, Russia, India, China and South Africa). Then an analysis of the Chinese automobile industry’s external environment using the PESTEL was conducted. The study further used Porter’s five forces to compare the industry’s competitiveness in the global automobile market, also organisational culture theory are discuss in analysing the internal environment of Chery automobile with the view of assessing it. Conclusion and recommendation were given on strategic option opens to Chery automobile in its drive toward globalisation.
The study found that the BRICS countries are forces to be reckoned with in the global automobile sector. It also found that there are sufficient evidences suggesting that the BRICS economy with surpass that of the United States and Europe by the year 2050. In relation to Chery, the analysis revealed that it is one of the leading automaker in China and it rate of globalisation is very fast. The company’s corporate culture has also worked well.
Based on the analysis conducted it is recommended that among the strategic options open to Chery in its globalisation pursue is contract manufacturing, joint venture manufacturing, strategic alliance and licensing.
Key words: BRICS, China Automobile Industry, Chery Motors.

 Automated Teller Machines (ATMs) have gained prominence as a delivery channel for banking transactions in India.  Banks have been deploying ATMs to increase their reach.  More people are now moving towards using the automated teller machines (ATM) for their banking needs.  Majority of people now prefer this modern channel to traditional mode of banking. Almost more than half of people use an ATM at least once a week.  Increased ATM usage is also helped by the fact that customers have now the flexibility of using ATMs of other banks, as most of the banks are part of major interbank networks.  The interbank networks have brought together ATMs of several banks so that consumers would gain access to any of the participating banks' ATMs.  Banks find it cheaper to pay membership fees to these networks as against setting up additional units in expensive-to-deploy areas.

Supply Chain Finance (SCF) is a relatively recent thinking in Supply Chain Management (SCM) literature. Major Interest in SCF has steadily increased since the past decades and especially during the global financial crisis of 2008. However, SCF places the focus of research on the interconnection among SCM, corporate value and financial performance, away from the myopic perspective of managing solely the cost when studying financial aspects of SCM. Despite the crisis-related research interest and the growing importance of SCF, academic contributions on the subject remain vague, while scarce research efforts have been identified toward the systematic documentation of its core concepts. This chapter aims to redefine the term SCF by shedding light on theoretical ambiguities, provide an up-to-date systematic literature review of the SCF concept and identify research gaps. The goal is to also highlight emerging areas like the "Supply Chain Financial Bullwhip Effect" and Blockchain Technology.

The article rise the question from the background of the economic transformation and the difficult survival of small and medium enterprises. In the premise of considering the current situation of financial competition, environment and industry analysis, the article will analyze the status and problems of China Postal Saving Bank. In order to take a strategic analysis and put forward specific implementation measures to supply chain finance of Postal Saving Bank by SPACE analysis, combined with SWOT analysis.

Following the recession created by the recent global financial crisis, which caused disruptions in the funding markets and in the financial flow level of supply chains, companies were forced to reduce their working capital targets, as well as find new forms of financing their business plans. This inevitably caused a substantial shock in the supply chains across the world thus, creating both an inventory-driven and a financial bullwhip effect. While the previous Supply Chain Management (SCM) research has focused on the bullwhip effect of physical material flows, the existing bullwhip in financial flows has been neglected, despite the crisis-enhanced interest and its growing significance. The main objective of this paper is to study the current literature dealing with the interactions among supply chain material and financial flows, to shed light on the increasing amplification of financial distortion along supply chains, caused by the transmission channels of financial shocks at the micro (firm) and the macro (economy) level and to build on current theory by introducing the supply chain financial bullwhip effect (SCFBE) in the contemporary supply chain scientific agenda.

In this paper, we investigate the role of governments in mitigating the socioeconomic impacts of COVID-19. We also try to evaluate the fiscal and monetary policy interventions by governments and assess how such policies could be sustained. Taking Ghana as a sample, this study reveals that, the coordinated applications of monetary and fiscal policies are lifesaving, preventing loss of incomes and jobs, protecting bankruptcies in businesses, and finally enhancing economic recovery. We propose a CCCRD Model which could serve as a global strategy for governments in the fight against COVID-19. Backing such policies with legislation could help in their sustenance.

We propose a new one-parameter family of risk functions defined on portfolio return sample -paths, which is called conditional drawdown-at-risk (CDaR). These risk functions depend on the portfolio drawdown (underwater) curve considered in active portfolio management. For some value of the tolerance parameter α , the CDaR is defined as the mean of the worst % 100 ) 1 ( * − α drawdowns. The CDaR risk function contains the maximal drawdown and average drawdown as its limiting cases. For a particular example, we find optimal portfolios with constraints on the maximal drawdown, average drawdown and several intermediate cases between these two. The CDaR family of risk functions originates from the conditional value-at-risk (CVaR) measure. Some recommendations on how to select the optimal risk measure for getting practically stable portfolios are provided. We solved a real life portfolio allocation problem using the proposed risk functions.

İktisadi ve sosyal hayatta ticareti kolaylaştırmayı sağlayan en önemli araç paradır. Tarihte para sistemleri mutat şekilde çökmüş ve yeni para sistemleri her zaman bir öncekinin kusurlu yönlerini tahsis etmek amaçlı ortaya çıkmıştır. Günümüzde de halihazırdaki para sisteminden kaynaklanan sorunlar iktisadi ve sosyal hayatta çöküşlere yol açmaktadır. Bu nedenle mevcut para sistemi sorgulanmaya başlanmış, daha büyük sıkıntılara ve yıkımlara yol açmadan ikamesi için araştırmalara hız verilmiştir.
Çalışmanın amacı mevcut para sisteminin kusurlu yönlerini düzeltmek için İslami bir çözüm önerisi sunmaktır. Bu araştırmada kavramsal analiz ve teorik araştırma yöntemi kullanılmıştır. Konunun içeriğinin son derece ehemmiyetli olmasına karşın literatürde bu önemi gösteren araştırmaların sayısı yeterli değildir.
Günümüz iktisadi sisteminde para riba içeren borçlanma senetleri ile yaratılmaktadır. Değerli madenlere dayalı para sistemleri, spekülasyon ve garar’a zemin hazırlamaları münasebeti ile, tarihte denenmiş ve çökmüşlerdir. İslami açıdan para üretime ve emeğe dayalı olmalıdır.
Bu veriler ışığında lisanslı depoculuk sistemi sayesinde paranın, tedarik zincirlerinden başlanarak üretime ve emeğe dayalı yaratılabileceği tespit edilmiştir. İslami açıdan uygun kripto para sistemiyle birlikte geliştirilecek elektronik depo sertifikalarının da paranın çapası olma fonksiyonunu kolaylıkla yerine getirebileceği sonucuna ulaşılmıştır.

The automotive production has weakened due to the downturn in car production and financial problems of car segment makers in recent years, so financial support of the small and medium enterprises is one of the essential requirements in the country's economic development programs. The purpose of this research is to present a structural model to examine the components that affect the financing of small and medium-sized enterprises in the car segment chain. This article uses the review of the theoretical literature and interviews with experts about the identified variables which affect the financing of small and medium enterprises and were stratified by using the structural equation method in 6 dimensions. Then, the research hypotheses were analyzed by using T-Student test. The results showed that 6 main dimensions are included: poor performance of banks, poor performance of the capital markets, the lack and weakness of specialized banks, the lack and weakness of financing methods, lack of cooperation and coordination between firms and financial institutions, these weaknesses effects on the financing of small and medium enterprises in the car segmentation chain.

Partendo da un caso aziendale, per evidenziare la forza pervasiva di tre variabili tra loro apparentemente distanti, e dopo aver proposto una riscrittura critica delle priorità generate dall'attuale crisi indotta, l'elaborato evidenzia alcuni drivers di valore, su cui permanentemente le organizzazioni devono concentrarsi e che dimostrano come strategia e capitale umano risultino interdipendenti per la sostenibilità dell'impresa.

FINANCIAL FORUM “Le Fonti” 2019 – Exponential CFO - The evolving role of Finance in a digital world.
Speaker at the roundtable “The importance of Fintech solutions for SCF” with Federica Dalla Noce (secretary general of ADACI) and Nevio Boscariol (AITI advisor, ARIS Head of Economic Service and Operational).
The discussion has dealt with the optimisation of cash flow, financial instruments of funding supporting the working capital, the importance of supply chain to optimise stocks and logistic, the role of logistic providers.

Industry consolidation and globalization represents a challenge for procurement organizations who typically become either recipients of the acquired company’s supplier base or are directly responsible for this increase by securing new suppliers to meet the operational demands of a global supply chain. An increased supplier base not only makes it more difficult to manage suppliers but also represents higher supply chain risks. The proposed model attempts to proactively evaluate bankruptcy probabilities of suppliers by capturing financial information using web services, computing this data using a modified equation version of a well-known financial model and producing risk potentials, in percentage points, for supplier bankruptcies. The study clearly shows the usefulness of the prototype when operating in a Service Oriented Architecture and offered to end users as a leading indicator of risk.

This study empirically examines how resource dependence may be bargained away by supply chain finance (SCF) costs incurred to upstream suppliers and downstream buyers through cash-conversion-cycles. We found that a focal firm may get compensated for its resource contribution with an extra share of the financial gain by using the superior bargaining position over its vertical supply chain partners. Nevertheless, the focal firm may proactively restrain its use of bargaining power when the need for cooperative relationship with its supply chain partners prevails. Managerial and research implications for the introduction of power theory and relation theory to the SCF studies are discussed.

Throughout history, monetary systems have repeatedly collapsed, and new systems have emerged to redress the failed flaws. The repercussions of the current monetary system give rise to collapses in modern economic and social life. This study aims to have an Islamic proposition to remedy the flaws of the modern monetary system. The money can be created based on production and work effort in the supply chain starting from a licensed warehousing system. It has been inferred that Electronic warehouse receipts of licensed warehouses can act as an anchor for an Islamic cryptocurrency system that can perform the functions of money readily.

This study empirically examines how resource dependence may be bargained away by supply chain finance (SCF) costs incurred to upstream suppliers and downstream buyers through cash-conversion-cycles. We found that a focal firm may get compensated for its resource contribution with an extra share of the financial gain by using the superior bargaining position over its vertical supply chain partners. Nevertheless, the focal firm may proactively restrain its use of bargaining power when the need for cooperative relationship with its supply chain partners prevails. Managerial and research implications for the introduction of power theory and relation theory to the SCF studies are discussed.

During the Workshop 1 of the Supply Chain Finance Observatory of the School of Management of Politecnico di Milano on 19th September 2020 I presented a case study  called "The SCF and the organisational change of an SME: Artwood case", with which I wanted to describe the evolution of the SCF and the role of technologies, particularly of fintech ecosystem.

Following the recession created by the recent global financial crisis, which caused disruptions in the funding markets and in the financial flow level of supply chains, companies were forced to reduce their working capital targets, as well as find new forms of financing their business plans. This inevitably caused a substantial shock in the supply chains across the world thus, creating both an inventory-driven and a financial bullwhip effect. While the previous Supply Chain Management (SCM) research has focused on the bullwhip effect of physical material flows, the existing bullwhip in financial flows has been neglected, despite the crisis-enhanced interest and its growing significance. The main objective of this paper is to study the current literature dealing with the interactions among supply chain material and financial flows, to shed light on the increasing amplification of financial distortion along supply chains, caused by the transmission channels of financial shocks at the micro (firm) and the macro (economy) level and to build on current theory by introducing the supply chain financial bullwhip effect (SCFBE) in the contemporary supply chain scientific agenda.

Liberalization of global trade has presented an opportunity for sub-Saharan African economies to integrate into the regional and global value chains, secure stable markets for their agri-commodities, and increase the much needed private sector investment in the agriculture sector. However, for most African economies, realizing the opportunities associated with the integration of local agriculture value chains into the global supply chain has been more of a pipe dream. Moreover, the nature and organisation of agriculture value chains in most African countries, and the relevance of value chain integration in catalyzing access to finance through facilitating agriculture value chain finance remains largely unclear. This is in part due to the fact that, research evidence in this area is not only scarce but also remains fragmented across agriculture and access to finance related studies. This article briefly reviews the existing research literature relating to the relevance of agriculture value chain integration and agriculture value chain finance in the context of access to finance for the agriculture sector players in Uganda. The paper presents literature review findings, and identifies the knowledge gap which may be addressed in future research.

Business and scientific organizations, nowadays, own databases containing confidential information that needs to be analyzed, through data mining techniques, in order to support their planning activities. The need for privacy is imposed due to, either legal restrictions (for medical and socioeconomic databases), or the unwillingness of business organizations to share their data which are considered as a valuable asset. Despite the diffusion of data mining techniques, the key problem of confidentiality has not been considered until very recently. In this chapter we address the issue of mining encrypted data, in order to both protect confidential information and to allow knowledge discovery. More specifically, we consider a scenario where a company having private databases negotiates a deal with a consultant. The company wishes the consultant to analyze its databases through data mining techniques.