通胀市场中在线金融租赁模型及其竞争策略设计

项目名称： 通胀市场中在线金融租赁模型及其竞争策略设计

项目编号： No.71301029

项目类型： 青年科学基金项目

立项/批准年度： 2014

项目学科： 管理科学

项目作者： 杨兴雨

作者单位： 广东工业大学

项目金额： 20.5万元

中文摘要： 金融租赁已成为企业越来越重要的融资方式之一，承租人和出租人的决策行为也越来越需要一定的决策理论作指导。由于实际的金融租赁决策活动是一种在线决策，并且受通货膨胀、金融租赁合同中的关键性条款、承租人的动态预期等因素影响，因此本项目利用在线算法和竞争分析理论研究以上各种因素影响下的在线金融租赁问题。首先，建立通胀市场中的在线金融租赁模型，设计最优随机性策略并计算其竞争比；然后，分别建立带运行费用和带留购设备选择的在线金融租赁模型，设计最优确定性和随机性策略并计算其竞争比；其次，研究动态预期下在线金融租赁模型的风险回报策略及其约束竞争比。同时，借助于实证分析，研究通货膨胀、运行费用、留购设备的价格和动态预期等因素对竞争策略及其竞争性能的影响。本项目旨在为承租人赁购设备和租赁公司确定租赁价格提供更有效的理论指导，丰富和完善在线金融租赁问题的研究成果，为其它相关在线金融决策问题的研究提供思路和方法。

中文关键词： 在线金融租赁；竞争策略；竞争比；通货膨胀；合同约束

英文摘要： Financial leasing has become one of the more and more important financing patters for enterprise, and the decision-making behavior of lessees and lessors increasingly needs some decision-making theory to guide. As the decision-making for financial leasing is on-line and is affected by factors such as the market inflation, the key items of the financial leasing contract, the lessee's dynamic forecasts, this project, using the theory of on-line algorithm and competitive analysis, studies the on-line financial leasing problem with the above factors. First, we establish the on-line financial leasing model in the inflation market, and design the optimal randomized strategy and compute its competitive ratio; second, we establish on-line financial leasing models with running cost and with option of purchasing the equipment, respectively, and design the optimal randomized strategies and compute their competitive ratios; then, we study the optimal risk-reward strategy and its restricted competitive ratio for the on-line financial leasing model under dynamic forecast. At the same time, thanks to empirical analysis, we study the effects of the factors of the market inflation, the running cost, the price of the leasing equipment and the dynamic forecast on the competitive strategies and their competitive performances. This

英文关键词： On-line financial leasing；Competitive strategy；Competitive ratio；Inflation；Contract constraint