市场波动下双边资金约束供应链融资决策仿真  

Simulation Analysis of Financing Decision of Bilateral Capital Constrained Supply Chain Based on Market Fluctuation

作　　者：孙凡松[1,2] 宋泳萩 蹇明[1,2] SUN Fan-song;SONG Yong-qiu;JIAN Ming(School of Transportation and Logistics,Southwest Jiaotong University,Chengdu Sichuan 611756,China;National United Engineering Laboratory of Integrated and Intelligent Transportation,Southwest Jiaotong University,Chengdu Sichuan 611756,China)

机构地区：[1]西南交通大学交通运输与物流学院,四川成都611756 [2]西南交通大学综合交通运输智能化国家地方联合工程实验室,四川成都611756

出　　处：《计算机仿真》2021年第9期221-226,共6页Computer Simulation

基　　金：国家社会科学基金项目(18BGL104)。

摘　　要：当技术创新型制造业集聚的过程中,供应链成员均可能受到资金约束的困扰,针对波动性较强新兴制造业市场中资金约束供应链成员企业的搭便车问题,对双边资金约束的供应链融资决策进行仿真分析。研究表明,金融机构及下游核心企业与上游企业存在信息博弈,在考虑市场波动性时,市场不确定性相较于下游企业融利率对此刻下游企业期望利润的影响更加显著,存在下游企业关于融资利率决策的临界值对下游企业的期望利润产生影响,在特定区间内下游企业更愿意向自有资金更少的上游企业提供融资服务。In the process of technological innovation industry agglomeration, supply chain members may be troubled by capital constraints.Aiming at the free-rider problem of capital-constrained supply chain members in the process of technological innovation, this paper makes a decision analysis on the supply chain financing strategy with bilateral capital constraints.The research shows that there is an information game between financial institutions and downstream core enterprises and upstream enterprises.When the market risk is in the controllable range, the lower the initial funds of the upstream enterprises, the more effective the Pareto improvement of upstream enterprises and the higher the acceptance of market risk is.On the premise of considering the market risk, the risk of market uncertainty is more significant than the influence of the interest rate of downstream enterprises on the expected profit of the downstream enterprises at the moment and there is also an influence on the expected profit of the downstream enterprises by the critical value of the downstream enterprises on the financing interest rate decision.

关 键 词：资金约束 技术创新 市场风险 融资策略 

分 类 号：TH128[机械工程—机械设计及理论]