科技型新创企业供应链融资多主体行为策略的演化与仿真

The Multi-agent Behavior Strategy of Supply Chain Financingfor Technology-based Start-ups Evolution and simulation

科技型新创企业研发投入大、回报周期长的特性使其有着“短、频、散、小”的融资需求,但其所能依赖的融资手段却十分有限,供应链融资被认为是解决科技型新创企业融资问题的有效途径。基于科技型新创企业所面临的融资难、融资贵现实情境,建立供应链融资多主体行为策略的演化博弈模型,通过求解模型找到系统的演化稳定策略,而后结合Matlab仿真进一步探究相关因素变化对演化结果的影响。研究表明:三方都参与或三方都不参与的行为策略为该系统的稳定策略;当各主体初始参与意愿大于等于60%时,随着时间变化各主体倾向于选择参与的行为策略,否则将选择不参与;当各主体参与供应链融资获得的收益大于临界值或获得的成本小于临界值时,各主体也会随着时间变化选择参与的行为策略。研究丰富了供应链融资的相关研究,为科技型新创企业解决融资困境提供了理论支撑。

The characteristics of large R&D investment and long return cycle of technology-based start-upsmake them have“short,frequent,scattered and small”financing needs,but the financing means they canrely on are very limited.Supply chain financing is considered to be an effective way to solve the financing problems of technology-based start-ups.Based on the realistic situation of difficult and expensive fin-ancing faced by technology-based start-ups,an evolutionary game model of multi-agent participation in supply chain financing behavior strategy is established,and the evolutionary stability strategy of the syst-em is found by solving the model.Then,the influence of changes in relevant factors on the evolutionaryresults is further explored by Matlab simulation.The research shows that:The behavior strategy of all three parties participating or none participating is the stability strategy of the system.When the initialparticipation intention of each subject is greater than or equal to 60%,each subject tends to choose the behavioral strategy of participation over time;otherwise,they will choose not to participate.When the benefits obtained by each entity participating in supply chain finance are greater than the critical value orthe cost obtained is less than the critical value,each entity will also choose the behavioral strategy ofparticipation as time changes.The research enriches the relevant research on supply chain financing and provides thoretical supports for technology-based start-ups to solve financing difficulties.