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...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.展开更多
This paper explores the operational strategies of cross-border micro, small, and medium enterprises (MSMEs). Against the backdrop of globalization and digitalization, cross-border trade has become one of the important...This paper explores the operational strategies of cross-border micro, small, and medium enterprises (MSMEs). Against the backdrop of globalization and digitalization, cross-border trade has become one of the important pathways for many MSMEs to achieve growth and competitive advantage. Firstly, the paper outlines the concept and characteristics of cross-border MSMEs, as well as the analysis of their operational environment in the context of globalization, including political, economic, social, technological, environmental, and legal factors. Secondly, the paper proposes operational strategies for cross-border MSMEs, including international market selection and positioning, cross-border marketing strategies, supply chain management, cross-border financial management, and cross-border risk management. Finally, the paper summarizes the importance of effectively implementing these strategies for cross-border MSMEs to seize international market opportunities, reduce operational risks, and enhance competitiveness and profitability.展开更多
The development of Pudong hasattracted worldwide attention whilePudong’s "face", the Lujiazui Financeand Trade Zone, is more striking. Hundredsof tall buildings have sprung up likemushrooms in Pudong; the g...The development of Pudong hasattracted worldwide attention whilePudong’s "face", the Lujiazui Financeand Trade Zone, is more striking. Hundredsof tall buildings have sprung up likemushrooms in Pudong; the grand YangpuBridge and Nanpu Bridge cross the HuangpuRiver, setting each other off fantasticallywith the imposing Oriental Pearl TV Towernearby; the broad avenue traverses the zonelike a rainbow; the new Shanghai CommerceCity is emerging on the horizon,展开更多
Finance and Trade Economics(monthly) is sponsored by the Institute of Finance and Trade Economics,and directed by the Chinese Academy of Social Sciences.It is one of the oldest and most prestigious journals in economi...Finance and Trade Economics(monthly) is sponsored by the Institute of Finance and Trade Economics,and directed by the Chinese Academy of Social Sciences.It is one of the oldest and most prestigious journals in economics in China,展开更多
Finance and Trade Economics (monthly) is sponsored bythe Institute of Finance and Trade Economics, and directedby the Chinese Academy of Social Sciences.It is one of theoldest and most prestigious journals in economic...Finance and Trade Economics (monthly) is sponsored bythe Institute of Finance and Trade Economics, and directedby the Chinese Academy of Social Sciences.It is one of theoldest and most prestigious journals in economics in China,featuring sound unification of both theoretical and empiricalresearch.Since 1980, FTE has presented vast展开更多
文摘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.
文摘This paper explores the operational strategies of cross-border micro, small, and medium enterprises (MSMEs). Against the backdrop of globalization and digitalization, cross-border trade has become one of the important pathways for many MSMEs to achieve growth and competitive advantage. Firstly, the paper outlines the concept and characteristics of cross-border MSMEs, as well as the analysis of their operational environment in the context of globalization, including political, economic, social, technological, environmental, and legal factors. Secondly, the paper proposes operational strategies for cross-border MSMEs, including international market selection and positioning, cross-border marketing strategies, supply chain management, cross-border financial management, and cross-border risk management. Finally, the paper summarizes the importance of effectively implementing these strategies for cross-border MSMEs to seize international market opportunities, reduce operational risks, and enhance competitiveness and profitability.
文摘The development of Pudong hasattracted worldwide attention whilePudong’s "face", the Lujiazui Financeand Trade Zone, is more striking. Hundredsof tall buildings have sprung up likemushrooms in Pudong; the grand YangpuBridge and Nanpu Bridge cross the HuangpuRiver, setting each other off fantasticallywith the imposing Oriental Pearl TV Towernearby; the broad avenue traverses the zonelike a rainbow; the new Shanghai CommerceCity is emerging on the horizon,
文摘Finance and Trade Economics(monthly) is sponsored by the Institute of Finance and Trade Economics,and directed by the Chinese Academy of Social Sciences.It is one of the oldest and most prestigious journals in economics in China,
文摘Finance and Trade Economics (monthly) is sponsored bythe Institute of Finance and Trade Economics, and directedby the Chinese Academy of Social Sciences.It is one of theoldest and most prestigious journals in economics in China,featuring sound unification of both theoretical and empiricalresearch.Since 1980, FTE has presented vast
