基于实物期权的林浆纸供应链博弈模型研究  

Research on Game Model of Pulp & Paper Supply Chain Based on Real Options

作　　者：王虹[1] 张智光[1] 

机构地区：[1]南京林业大学经济管理学院,江苏南京210037

出　　处：《南京工业大学学报（社会科学版）》2013年第4期66-72,共7页Journal of Nanjing Tech University：Social Science Edition

基　　金：国家自然科学基金项目(70873059);国家自然科学基金项目(71071075);"十一五"国家科技支撑计划(2006BAD32B08);教育部人文社会科学青年基金项目(12YJC630180);江苏省教育厅高校哲学社会科学基金项目(2011SJB630033);中国博士后科学基金(2011M500932);江苏省博士后科研资助计划项目(1101105C)

摘　　要：针对林浆纸供应链中原材料供应不稳定、价格存在波动的情况,基于实物期权理论对营林企业原材料的期权定价决策、制浆造纸企业的原材料期权购买决策和期权执行决策进行探讨。通过构建Stackelberg博弈模型,分析营林企业与制浆造纸企业间的博弈过程,得到各决策变量间的相互影响。通过数值算例验证实物期权契约优于传统契约,为企业的实际运作提供管理启示。In the pulp and paper supply chain, the supply and price of raw materials are uncertainty. Based on the real options theory, the paper analyzes the options pricing decisions of forest enterprises, decisions of raw material options purchase and execution of options for the pulp ＆ paper industry. The paper also proposes a Stackelberg Game Model and studies the relationship between forest enterprises and the pulp ＆ paper making in- dustry. We discuss how the parameters affect each other. The numerical example verifies that the real options contract is better than the traditional contract. It is hoped that the research would provide implications for the management operations.

关 键 词：林业供应链 林浆纸产业 期权博弈 实物期权 

分 类 号：F272.3[经济管理—企业管理]