Credit insurance serves as a credit enhancement in bank financing.Considering the risk avoidance behavior of retailer,the loss avoidance behavior of bank and the sales efforts of retailer,the Stackelberg game models are built respectively under two conditions with or without credit insurance based on the supply chain finance system composed of capital-constrained retailer,supplier,and bank,all of which have capital constraints.And the influence of credit insurance on the decision-making of both the retailer and bank is compared.The research finds that:credit insurance can alleviate the negative impact caused by the risk aversion behavior of the retailer and promote the retailer to increase their order volume and sales effort level.For a bank,the level of insurance coverage influences the interest rate,and the more loss-averse a bank is,the better the combination of credit insurance and sales efforts will work.The sales effort level decreases as the risk aversion factor of the retailer increases,but the level of sales effort with credit insurance is always higher than that without credit insurance.
维普
万方数据