供应商资金约束下双渠道供应链融资选择与定价策略——基于期望效用视角的分析

发布时间：2018-06-08 19:37

本文选题：资金约束 + 提前支付　；参考：《商业研究》2017年07期

【摘要】：随着互联网经济的发展,许多供应商利用互联网开辟了直销渠道,形成了双渠道供应链。本文假设一个供应商与一个零售商组成的双渠道供应链,外部需求随机,供应商面临资金约束而零售商资金充足,从期望效用的视角分别考察外部融资和内部融资两种方下供应商和零售商的最优决策。研究结果表明,直销渠道的零售价会随着供应商风险厌恶程度的增大而降低,批发价根据两者之间的风险厌恶程度来确定,随供应商风险厌恶程度增大而降低,随零售商风险厌恶程度增大而提高,传统渠道的零售价随供应商和零售商的风险厌恶程度增大而降低。面临资金约束的供应商会优先选择零售商提前支付的融资方式,当供应链双方处于非风险厌恶型时最易达成无偿内部融资的"双赢"模式,但无论哪种融资方式都难以达到无资金约束下的最优期望效用。
[Abstract]:With the development of Internet economy, many suppliers use the Internet to open up direct selling channels and form double channel supply chain. In this paper, a supplier and a retailer are assumed to have a double-channel supply chain with random external demand, a supplier facing financial constraints and a retailer with sufficient funds. From the perspective of expected utility, the optimal decisions of suppliers and retailers under external financing and internal financing are investigated respectively. The results show that the retail price of direct selling channels will decrease with the increase of risk aversion of suppliers, the wholesale price will be determined by the degree of risk aversion between them, and the price will decrease with the increase of risk aversion of suppliers. With the increase of risk aversion of retailers, the retail price of traditional channels decreases with the increase of risk aversion of suppliers and retailers. Suppliers facing financial constraints will prefer the financing method of retailers' early payment. When the supply chain is in the non-risk-averse type, it is the easiest to achieve the "win-win" mode of non-reimbursable internal financing. However, it is difficult to achieve the optimal expected utility without capital constraints.
【作者单位】：烟台大学经济管理学院;大连理工大学经济与管理学部;
【基金】：国家社科基金资助项目,项目编号:12CGL042 国家自然科学基金资助项目,项目编号:71271039,71372122 烟台大学研究生科技创新基金资资助项目,项目编号:YDYB1710
【分类号】：F274;F275;F832.4

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