基于收益共享——回购的跨国供应链汇率风险管理  

Global Supply Chain Exchange Rate Risk Management Based on Buy-back-revenue-sharing Contract

作　　者：刘洋[1] 马永开[1] LIU Yang MA Yong-kai(School of Management and Economics, University of Electronic Science and Technology of China, Chengdu 610054, China)

机构地区：[1]电子科技大学经济与管理学院,四川成都610054

出　　处：《系统工程》2016年第8期108-115,共8页Systems Engineering

摘　　要：基于一个由供应商承担汇率风险的二阶跨国供应链,通过模型均衡,比较跨国供应链上回购契约和收益共享契约的差别,并根据这种差别设计一个收益共享——回购契约来降低销售期末转移支付的数额,从而降低供应商所承担的汇率风险。研究结果表明,(1)回购契约和收益共享契约虽能实现跨国供应链协调,但销售期末转移支付的差异将导致跨国供应链受到汇率风险不同的影响。(2)收益共享——回购契约同样可以实现跨国供应链协调。(3)收益共享——回购契约可以实现销售期末转移支付的对冲,从而降低供应商所承担的汇率风险。The main purpose of this study is to manage the exchange rate risk and the inefficiency caused by demand risk at the same time. Based on a two-level global supply chain, with the model equilibrium, this paper studies the node-enterprises＇ optimal strategies, and discusses the difference between the buy-back contract and the revenue-sharing contract. Hence, it designs a revenue-sharing contract with return policy to coordinate this global supply chain. The result shows that： （1） Though both buy-back and revenue-sharing contract can coordinate the global supply chain, the supplier will suffer from the exchange rate risk; （2） the buy-back-revenue-sharing contract can coordinate the global supply chain; （3） the buy-back-revenue-sharing contract can decrease the exchange rate risk by decreasing the transfer payments at the end of sale season.

关 键 词：跨国供应链 汇率风险 回购契约 收益共享契约 

分 类 号：F273[经济管理—企业管理]