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资金约束供应链预付款融资模式的比较优势分析

  

  1. 上海交通大学 1.中美物流研究院, 2. 安泰经济与管理学院，上海 200030
  • 出版日期:2016-04-30 发布日期:2016-05-27
  • 作者简介:李超（1985-），男，山东省人, 博士研究生，主要研究方向为供应链金融.
  • 基金资助:

    国家自然科学基金资助项目（71372107）;上海哲学社会科学规划课题（2012BGL011）

A Comparative Advantage Analysis of Advance Payment Financing Mode for Financial Constrained Supply Chain

  1. 1. Sino-US Global Logistics Institute, Shanghai Jiao Tong University, Shanghai 200030, China; 2. Antai College of Economics and Management, Shanghai Jiao Tong University, Shanghai 200030, China
  • Online:2016-04-30 Published:2016-05-27

摘要：

供应链下游企业以预付款方式为资金约束的上游企业提供生产性融资与传统的从外部金融机构（如银行）获得融资的方式相比具有其自身的优势，具有提升供应链的运作效率作用。在上游企业存在资金约束的供应链中，建立了供应链成员企业作为参与人的动态博弈模型。分别得到了银行融资模式和预付款模式下供应链成员企业的均衡策略，分析了预付款较银行融资模式的优势。结果表明，存在价格区间使得批发价格在在该区间内时，下游企业能够激励上游企业选择预付款模式并实现双方的帕累托改进，同时提高供应链整体的运作效率。

关键词: 资金约束, 预付款, 供应链融资

Abstract:

The mode of supply chain enterprises to provide productive financing and traditional financing from outside financial institutions (such as banks) has its own advantages, which can improve the efficiency of supply chain operation. In a pull supply chain where the supplier is in financial constraint, supply chain member enterprises being the players, a dynamic game model is established to investigate the improvement to supply chain efficiency and the members’ profit by advance payment. Equilibrium strategies under bank financing and advance payment are obtained respectively, and advantage of advance payment compared with bank financing is analyzed. The results show that when there is an interval and the wholesale price is in this interval, the retailer is able to incent the supplier to opt advance payment scheme and achieve Pareto improvement for both players and improve the efficiency of the whole supply chain.

Key words: capital constraint, advance payment, supply chain financing