文章基本信息

标题：Study on the Selection Strategy of Supply Chain Financing Modes Based on the Retailer’s Trade Grade
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作者：Yu, Jianjun ; Zhu, Dan
期刊名称：Sustainability
印刷版ISSN：2071-1050
出版年度：2018
卷号：10
期号：9
页码：1-12
出版社：MDPI, Open Access Journal
摘要：In the supply chain financing (SCF) system composed of a capital-constrained retailer, a supplier and a commercial bank, we design two different limited financing modes (internal financing and external financing) based on the retailer’s collateral assets. A newsvendor-like retailer has a single opportunity to order goods from a supplier to satisfy future uncertain demand. In the presence of bankruptcy risk for the retailer, we model their strategic interaction as a Stackelberg game with the supplier as the leader and analyze the optimal decisions for each participant. Regardless of which financing mode is chosen, the capital-constrained retailer orders fewer goods if the financing cost is relatively high. In addition, when the market demand obeys the uniform distribution, if the retailer possesses more collateral assets, he will enjoy a lower loan interest rate and increase order quantity gradually. Moreover, compared with the internal financing mode, each participant obtains the larger expected profits under the external financing mode.
关键词：trade grade; internal financing; external financing; bankruptcy threshold; Stackelberg game