努力水平影响质押物损耗的存货质押融资合约选择

doi:10.3969/j.issn.1007-7375.2021.02.003

工业工程 ›› 2021, Vol. 24 ›› Issue (2): 19-26,67.doi: 10.3969/j.issn.1007-7375.2021.02.003

努力水平影响质押物损耗的存货质押融资合约选择

侯艳龙, 王文利, 丰娇弟

太原科技大学经济与管理学院，山西太原 030024

收稿日期:2019-11-01 发布日期:2021-04-25
作者简介:侯艳龙(1979-)，男，山西省人，讲师，硕士，主要研究方向为供应链运营与供应链金融。
基金资助:
国家自然科学基金青年资助项目(71402112)；山西省哲学社会科学规划资助课题(2019B252)；山西省软科学资助项目(2017041012-1)

Contract Selection for Inventory Financing with Effort Level Affecting the Loss of Pledged Goods

HOU Yanlong, WANG Wenli, FENG Jiaodi

School of Economics and Management, Taiyuan University of Science and Technology, Taiyuan 030024, China

Received:2019-11-01 Published:2021-04-25

摘要/Abstract

摘要： 在质押物是一类易损耗物品的情况下，研究存货质押融资业务中银行对物流企业激励的合约选择问题。考虑物流企业努力水平影响质押物损耗，构建斯坦克尔伯格竞争博弈模型。通过比较共同经营、委托监管、统一授信3种业务模式下银行和物流企业的期望利润，探讨质押物存在损耗情况下银行的合约选择，以及物流企业努力成本系数、质押率和物品损耗率对合约选择的影响。研究结果表明，在物流企业努力成本系数较小时，银行应选择共同经营模式和物流企业进行合作；在货物损耗率较小时，银行应选择委托监管模式；在其他情况下，银行应选择统一授信模式，但银行的质押率不应设置过大。

关键词: 存货融资, 质押物损耗, 合约选择

Abstract: In the case that the pledge is a type of consumable item, the contract selection of encouraging a logistics company by a bank in inventory financing business is studied. Considering that the level of effort affects the loss of pledges, a model of Stackleberg competition game is constructed. By comparing the expected profits of the bank and the logistics company under the three business models of joint operation, entrusted supervision and unified credit, the contract choices of the bank in the case of the loss of pledges, and the impact of the logistics company' effort cost coefficient, and pledge and item loss rate on contract selection under different contract models are explored. It is shown that the bank should choose the joint operation mode when the logistics company's effort cost coefficient is small, and consigning supervision mode when the loss rate of the goods is small, in other cases, the bank should choose the unified credit mode cooperating with the logistics company and set smaller pledge rate.

Key words: inventory financing, loss of pledged goods, contract selection

中图分类号:

F259.23
F832

侯艳龙, 王文利, 丰娇弟. 努力水平影响质押物损耗的存货质押融资合约选择[J]. 工业工程, 2021, 24(2): 19-26,67.

HOU Yanlong, WANG Wenli, FENG Jiaodi. Contract Selection for Inventory Financing with Effort Level Affecting the Loss of Pledged Goods[J]. Industrial Engineering Journal, 2021, 24(2): 19-26,67.

参考文献

[1] 王勇, 徐鹏. 考虑公平偏好的委托模式融通仓银行对3PL激励[J]. 管理工程学报, 2010, 24(1): 95-100
WANG Yong, XU Peng. The incentive mechanism of banks to 3PL considering the factor of justice preference based on FTW of principal-agent mode[J]. Journal of Industrial Engineering/Engineering Management, 2010, 24(1): 95-100
[2] BUZACOTT J A, ZHANG R Q. Inventory management with asset-based financing[J]. Management Science, 2004, 50(9): 1274-1292
[3] 周咏, 胡艳梅, 杨华龙, 等. 价格和需求不确定下存货融资质押率优化研究[J]. 系统工程学报, 2018, 33(1): 34-43
ZHOU Yong, HU Yanmei, YANG Hualong, et al. Optimization on loan-to-value ratios of inventory financing under uncertain price and demand[J]. Journal of Systems Engineering, 2018, 33(1): 34-43
[4] 程帆. 季节性存货质押融资合作模式分析[J]. 中国管理科学, 2016, 24(S1): 439-447
CHENG Fan. Seasonal inventory impawn financing cooperation pattern analysis[J]. Chinese Journal of Management Science, 2016, 24(S1): 439-447
[5] 王占海, 梁工谦. 存货质押融资模式下的供应链协调[J]. 运筹与管理, 2018(6): 122-130
WANG Zhanhai, LIANG Gongqian. Supply chain coordination under inventory financing[J]. Operations Research and Management Science, 2018(6): 122-130
[6] 孙喜梅, 赵国坤. 考虑供应链信用水平的存货质押率研究[J]. 中国管理科学, 2015, 23(7): 77-84
SUN Ximei, ZHAO Guokun. Study on loan-to-value ratios of inventory pledging based on supply chain credit level[J]. Chinese Journal of Management Science, 2015, 23(7): 77-84
[7] 吴桐, 黄远新. 共同委托模式下存货质押融资双重激励机制研究[J]. 物流技术, 2018, 37(6): 53-59
WU Tong, HUANG Yuanxin. Study on double incentive mechanism of inventory pledge financing under joint entrustment[J]. Logistics Technology, 2018, 37(6): 53-59
[8] BERLING P, ROSLING K. The effects of financial risk on inventory policy[J]. Management Science, 2005, 51(12): 1804-1815
[9] 李富昌. 考虑质押物损耗的存货质押融资决策模型[J]. 工业技术经济, 2012(5): 60-66
LI Fuchang. Decision-making model of inventory financing considering the loss of pledged goods[J]. Journal of Industrial Technological Economics, 2012(5): 60-66
[10] THANGAM A, UTHAYAKUMAR R. Two-echelon trade credit financing for perishable items in a supply chain when demand depends on both selling price and credit period[J]. Computers & Industrial Engineering, 2009, 57(3): 773-786
[11] CHANG C, TENG J, CHERN M. Optimal manufacturer's replenishment policies for deteriorating items in a supply chain with up-stream and down-stream trade credits[J]. International Journal of Production Economics, 2010, 127(1): 197-202
[12] 吴庆, 但斌, 钱宇, 等. 努力水平影响损耗的低值易逝品 TPL 协调合同[J]. 管理科学学报, 2014, 17(12): 15-26
WU Qing, DAN Bin, QIAN Yu, et al. Third party logistics coordinating contracts for low value perish able products with loss dependent on logistics effort levels[J]. Journal of Management Sciences in China, 2014, 17(12): 15-26
[13] GOYAL S K, GIRI B C. Recent trends in modeling of deteriorating inventory[J]. European Journal of Operational Research, 2001, 134(1): 1-16
[14] 潘永明, 倪峰. 考虑质物耗损的银行存货质押融资决策研究[J]. 运筹与管理, 2015, 24(6): 233-241
PAN Yongming, NI Feng. Research on bank's decision of inventory financing considering inventory deterioration[J]. Operations Research and Management Science, 2015, 24(6): 233-241
[15] 张云丰, 王勇, 龚本刚. 考虑质押物损耗的存货质押融资合约设计[J]. 运筹与管理, 2017, 26(11): 146-153
ZHANG Yunfeng, WANG Yong, GONG Bengang. Research on contract design for inventory financing considering the loss of pledged goods[J]. Operations Research and Management Science, 2017, 26(11): 146-153

努力水平影响质押物损耗的存货质押融资合约选择

Contract Selection for Inventory Financing with Effort Level Affecting the Loss of Pledged Goods

RichHTML

PDF

可视化

摘要/Abstract

引用本文

使用本文

参考文献

相关文章 1

编辑推荐

Metrics

本文评价