融资结构视角下损失厌恶零售商的订购策略研究  

Study of the ordering strategy of loss-averse retailers from the perspective of financing structure

作　　者：燕汝贞[1] 邱启文 高伟 吴栩[1] Yan Ruzhen;Qiu Qiwen;GaoWei;Wu Xu(School of Business,Chengdu University of Technology,Chengdu 610059,China;School of Business,Sichuan Agricultural University,Chengdu 611830,China)

机构地区：[1]成都理工大学商学院,四川成都610059 [2]四川农业大学商学院,四川成都611830

出　　处：《系统工程学报》2021年第5期668-681,共14页Journal of Systems Engineering

基　　金：国家自然科学基金资助项目(71501018,71903017,71972136,71602134);教育部人文社会科学研究资助项目(17-YJC790168).

摘　　要：在零售商具有损失厌恶偏好和资金受限的条件下,研究融资结构、缺货损失和随机需求等因素对零售商订购策略影响问题.结果表明,最优订购量与库存成本呈反比,与缺货损失、回购价格呈正比;在市场需求分布满足一定条件下,最优订购量与债权融资比例、债权融资利率、损失厌恶程度呈反比;在不考虑缺货损失时,零售商最优订购量与市场需求分布无关;如果考虑缺货损失,那么不仅最优订购量会受到市场需求分布的影响,而且最优订购量与融资结构、损失厌恶程度之间的关系也会受到市场需求分布的影响.This paper develops a supply chain model consisting of one supplier and one loss averse and capitalconstrained retailer to investigate the impacts of loss aversion,financing structure,shortage cost and demand randomness on the ordering strategy of the retailer.The result shows that when the market demand distribution satisfies certain conditions,the optimal ordering quantity decreases with loss aversion,debt financing ratio,and debt financing interest rate;the optimal ordering quantity decreases with the inventory cost,but increases with the inventory cost and buyback price;the impacts of loss aversion,financing structure on the ordering strategy also depend on the market demand distribution when considering the shortage cost.

关 键 词：订购策略 损失厌恶 随机市场需求 融资结构 

分 类 号：F274[经济管理—企业管理] O227[经济管理—国民经济]