Issue |
E3S Web Conf.
Volume 257, 2021
5th International Workshop on Advances in Energy Science and Environment Engineering (AESEE 2021)
|
|
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Article Number | 02045 | |
Number of page(s) | 4 | |
Section | Research on Energy Consumption and Energy Industry Benefit | |
DOI | https://doi.org/10.1051/e3sconf/202125702045 | |
Published online | 12 May 2021 |
Optimization on Loan-to-value Ratios of Port’s Inventory Financing: Effects of Risk Aversion and Decision Preference
1
Collaborative Innovation Center for Transport Studies Dalian Maritime University Dalian, China
2
Collaborative Innovation Center for Transport Studies Dalian Maritime University Dalian, China
3
Collaborative Innovation Center for Transport Studies Dalian Maritime University Dalian, China
a dsj8922@126.com
b* Corresponding author: khb@dlmu.edu.cn
c mengbinfly@163.com
Under inventory financing mode, port offers joint logistics and financial services to a capital-constrained cargo-owner whose cargos are taken as collaterals. Port takes financial risk while gaining profit from both traditional logistics and derived financial services. This paper adopts Mean-CVaR criterion to formulate objective function and derive the equilibrium loan-to-value ratio. The Mean-CVaR model proposed in this article depicts risk-aversion attitude and decision preference of port under the uncertainty of collateral’s demand. The result shows that there is a positive relation between decision preference and loan-to-value ratio. The growth in risk aversion attitude prompts port to act cautiously by reducing the loan-to-value ratio.
© The Authors, published by EDP Sciences, 2021
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