Trade credit financing for supply chain coordination under financial challenges:a multi‑leader–follower game approach

This study is designed to solve supply chain inefficiencies caused by some members’financial problems,such as capital shortages and financing restrictions in a stochastic environment.To this end,we have established a supply chain finance framework by designing two novel coordinating contracts based on trade credit financing for different problem settings.These contracts are modeled in the form of multi-leader Stackelberg games that address horizontal and vertical competition in a supply chain consisting of multiple suppliers and a financially constrained manufacturer.However,previous studies in the trade credit literature have addressed only simple vertical competition,that is,seller-buyer competition.To solve the proposed models,two algorithms were developed by combining population-based metaheuristics,the Nash-domination concept,and the Nikaido-Isoda function.The results demonstrate that the proposed supply chain finance framework can eliminate supply chain inefficiencies and make a large profit for suppliers,as well as the financially constrained manufacturer.Furthermore,the results of the contracts’analysis showed that if the manufacturer is required to settle its payments to suppliers before the end of the period,the trade credit contract cannot coordinate the supply chain because of a lack of incentive for suppliers.However,if the manufacturer is allowed to extend its payments to the end of the period,the proposed trade credit financing contract can coordinate the supply chain.Finally,the sensitivity analysis results indicate that the worse the financial status of the manufacturer,the more bargaining power suppliers have in determining the contract parameters for more profit.

Understanding Credit Risk in Internet Consumer Finance:An Empirical Analysis with a Focus on the Young Generation

In recent years,internet finance has garnered increasing attention from the public.Online lending,emerging within the framework of Internet finance as a pivotal component,has witnessed substantial growth.While online credit,within the realm of Internet finance,presents numerous advantages over traditional lending,it concurrently exposes a plethora of credit risk issues.This study aims to facilitate the effective utilization of online credit tools by the young generation within the context of Internet finance.Additionally,it seeks to ensure the overall stability of the Internet finance environment and mitigate risks for the youth.Given the significance of understanding credit risk management for college students in the age of internet finance,this paper adopts the logistic model to evaluate credit risk in internet consumer finance and provides pertinent recommendations from the perspective of the young generation.