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考虑随机市场需求和零售商风险规避的绿色供应链内部融资策略研究

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在绿色供应链市场中,通过零售商向供应商提供投资或贷款,可以减少因供应商资金不足、无法正常组织生产引起的零售商以及整个供应链的损失.在随机市场需求情形下,构建供应商资金约束的供应链内部股权融资和债权融资模型,分析供应商和零售商的最优决策和对其的影响.研究发现,随着消费者绿色偏好、零售商的风险规避程度以及利润分配率的增加,产品绿色度和产品批发价格相应提高;在供应商资金约束的情况下,无论进行股权融资还是债权融资,产品绿色度都会提高;供应商和零售商为了实现自身利益最大化会选择不同的融资策略,只有当利润分配率控制在一定区间时,实行股权融资模式,才能使双方均实现利益最大化.
In the green supply chain market,providing investment or loans to suppliers through re-tailers can reduce losses for retailers and the entire supply chain caused by insufficient supplier funds and inability to organize production normally.Under the scenario of random market demand,construct an internal equity financing and debt financing model of the supply chain with supplier funding constraints,analyze the optimal decisions of suppliers and retailers and their impact on them.Research has found that as consumer green preferences,retailer risk aversion,and profit distri-bution rates increase,product greenness and wholesale prices correspondingly increase;Under sup-plier funding constraints,whether through equity financing or debt financing,the greenness of the product will increase;Suppliers and retailers will choose different financing strategies to maximize their own interests.Only when the profit distribution rate is controlled within a certain range and eq-uity financing mode is implemented can both parties achieve maximum benefits.

green supply chaincapital constraintdebt financingequity financing

文竹、白冬霞、侯剑

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内蒙古工业大学 经济管理学院,内蒙古自治区 呼和浩特 010051

绿色供应链 资金约束 债权融资 股权融资

内蒙古自治区高等学校碳达峰碳中和研究专项内蒙古自治区直属高校基本科研业务费项目

STZX202208JY20220323

2024

金融理论与实践
中国人民银行郑州中心支行 河南省金融学会

金融理论与实践

CSTPCDCHSSCD北大核心
影响因子:0.765
ISSN:1003-4625
年,卷(期):2024.(1)
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