需求不确定与竞争性市场下平台供应链融资的决策研究  

Supply Chain Financing Strategies of Platforms under Uncertain Demands and Competitive Markets

作　　者：弋泽龙 张慧君 付业林 黎建强 YI Zelong;ZHANG Huijun;FU Yelin;LAI Kinkeung(College of Economics,Shenzhen University,Shenzhen 518060,China;Department of Industrial and Manufacturing Systems Engineering,Hongkong University,Hongkong 999017,China)

机构地区：[1]深圳大学经济学院,广东深圳518060 [2]香港大学工业与制造系统工程系,中国香港999017

出　　处：《运筹与管理》2023年第11期5-11,共7页Operations Research and Management Science

基　　金：国家自然科学基金资助项目(72031004,72171154,72101098,72222019);广东省自然科学基金项目(2019A1515111164,2022A1515010232);国家重点研发计划项目(2021YFB3301701,2021YFB3301702)。

摘　　要：数字平台参与供应链运营,一方面为供应商卖家提供线上销售渠道,成为供应链的一个共同方;另一方面,数字平台掌握数据、技术和资本,成为供应链中资金的供给方。本文构建一个数字平台和两个竞争供应商组成的供应链模型,研究平台直接融资对供应链和平台利润的影响。研究表明,平台总是能从财务短缺的供应商融资中获得更多利润,平台更偏好财务状况较差的供应商。此外,平台佣金对供应商的生产数量决策有两个相反的影响:越低的佣金率能激励资金充足的供应商生产更多产品,而资金短缺的供应商的生产数量随着佣金定价上涨而增加。供应商利润与平台佣金呈负相关关系。The global economy is increasingly characterized by digitization and informatization.In the digital era,the integration of digital platform and supply chain is a promising direction for which the financial services of digital platforms are widely used in companies such as Tmall’s financing plan,Alibaba’s digital supply chain scheme as well as B2B and B2C transactions.Different from bank financing and credit financing,the digital platform provides online sales channels for suppliers and becomes a common party in the supply chain.Meanwhile,the platform holds data,technology and capital,and becomes a supplier of funds.With a closer combination of platform and supply chain,in the financing area,how to balance the functions of financing providers and sales channels at the same time,and how to design a perfect transaction credit contract and achieve the ultimate optimal equilibrium,are of great practical significance.Based on these,we propose the research question as follows:1)What is the impact of capital structure of suppliers on the optimal operational decision-making and profits of each participant,namely,will the platform choose financing?2)From the view of platform,how to control the interest rate and commission fee to make a larger production and a higher profit?In this paper,we construct a supply chain model consisting of a digital platform and two competing suppliers to examine the impacts of direct financing of the platform on profits of supply chain members and the platform.We set up a random demand environment and a competitive market structure.The demand follows a downward sloping function and the market size is random;on the other hand,two suppliers make their own production decisions and form a Cournot competition in horizontal level.The suppliers’funding structure is also an important influencing factor in our game.As such,we consider four cases of symmetrical and sufficient capital structure,symmetrical and insufficient capital structure and asymmetric capital structure.In addition,as the leader

关 键 词：平台融资 古诺竞争 资金约束 供应链金融 

分 类 号：F273[经济管理—企业管理]