努力效应下电商供应链融资决策均衡

Financing Decision Equilibrium of E-Commerce Supply Chain Under Effort Effect

将电商平台的服务努力和融资服务引入电商供应链中,在单独电商借贷和单独银行借贷以及它们的混合融资模式下,构建了资金约束供应链的各参与主体的收益模型.研究发现:在三种融资模式下,随着消费者对电商平台服务努力的敏感度的增加,供应商的批发价格和利润、电商平台的服务努力水平、产品的零售价格以及系统的利润增加;单独电商借贷和单独银行借贷的选择时,银行的借贷利率的大小是资金约束供应商融资模式选择的关键;单独融资模式和混合融资的选择时,混合融资的比例是供应商选择融资策略的关键;在电商借贷模式下,供应商的初始资金水平和资金机会成本影响供应链中各参与主体的利润分配.对比三种融资模式下供应链系统的绩效,电商平台借贷供应链绩效最高,混合融资次之,银行借贷最低。

This paper presents service efforts and financing services proposed by e-commerce platforms pertaining to the e-supply chain.Under the separate e-commerce lending model,separate bank lending model,and mixed financing model,a revenue model for each link in the supply chain under capital constraint was constructed.The study highlights that under the three financing models,when consumers'sensitivity to the service efforts of e-commerce platforms increase,the wholesale price and profit of suppliers,the service effort level of ecommerce platforms,the retail price of products,and the system profit follow.The lending rate of a bank is decisive in the choice of separate e-commerce lending or separate bank lending as the financing model for suppliers under capital constraint.When choosing between a separate financing model and a hybrid financing model,the ratio of hybrid financing is key in the choice of a financing strategy by suppliers.Under the e-commerce lending model,the initial capital level of suppliers and the opportunity cost of capital both affect the profit distribution to each link in the supply chain.With regard to the performance of the three financing models,the lending supply chain of e-commerce platforms offers the highest performance,followed by hybrid financing.Bank lending has the lowest performance.