链与链竞争下绿色供应链的融资决策分析  

Analysis of financing decisions for green supply chain under the Chain-to-Chain competition

作　　者：张冲[1] 王亚仙 刘天亮 ZHANG Chong;WANG Yaxian;LIU Tianliang(School of Management,Nanjing University of Posts and Telecommunications,Nanjing 210003,China;School of Economics and Management,Beijing University of Aeronautics and Astronautics,Beijing 100191,China)

机构地区：[1]南京邮电大学,江苏南京210003 [2]北京航空航天大学,北京100191

出　　处：《管理工程学报》2022年第2期159-172,共14页Journal of Industrial Engineering and Engineering Management

基　　金：国家自然科学基金资助项目(71771007);国家社会科学基金资助项目(18BGL021)。

摘　　要：生产绿色产品的制造商由于相对高昂的绿色投资成本,经常面临资金约束问题。为分析不同融资模式对供应链绩效的影响,本文考虑分别由一个制造商和一个零售商组成的链与链竞争的纵向市场结构。根据承担绿色投资成本的成员不同,本文在考虑融资风险的情况下分别构建了无融资模式、制造商融资模式和零售商融资模式下的供应链模型,比较了三种融资模式下产品绿色水平和供应链绩效。可以发现,在竞争的环境下,绿色制造商一直有动力进行融资,而零售商只有在竞争供应链的顾客绿色偏好小于一个阈值时才有融资动力。零售商融资模式下的绿色水平更高,因此,对制造商的利润和环境绩效的提高更为有利。With the rapid development of human society,the environmental problems including depletion of resources and environmental pollution have gradually aroused people′s attention.Therefore,an increasing number of manufacturers begin to invest in production equipment and technology to produce more environmentally friendly products.However,given the high cost in the investment of green technologies,the development of green supply chain is hindered.In the real world,when it is difficult for manufacturers to complete the production of green products due to capital constraints,apart from the financing by manufacturers to undertake the cost of green investment,some well-funded retailers will also choose to bear the cost of green investment for a greater power in deciding on the green level of products.Hence,this paper is mainly designed to find out who(manufacturers or retailers)are more motivated to get involved in green technologies,and who bears the cost can further encourage the development of green supply chain.This study considers the vertical market structure of the chain-to-chain competition composed of a manufacturer and a retailer respectively.Suppose that the first supply chain produces traditional products,and the second supply chain produces green products through the way in which the manufacturer or the retailer bears the green investment cost,also known as the manufacturer financing or the retailer financing.Meanwhile,the profit functions for the members of these two supply chains under different financing modes are established.Considering the financing risk,the paper also analyzes and compares the green level of products and the performance of supply chains under the non-financing mode,the manufacturer financing mode and the retailer financing mode.The results reveal that the manufacturer of green supply chain has always been motivated to finance,but the motivation for financing is relatively small.In other words,the manufacturer prefers the financing to be carried out by the retailer with sufficient capit

关 键 词：链与链竞争 绿色偏好 制造商融资 零售商融资 融资风险 

分 类 号：F273[经济管理—企业管理] C934[经济管理—国民经济]