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9-7美国圣塔克拉拉大学蔡港树教授学术讲座:Guarantor Financing in a Four-party Supply Chain with Leadership Influence

  • 发布日期:2017-09-01 06:43:00

题目:Guarantor Financing in a Four-party Supply Chain with Leadership Influence
主讲人:蔡港树教授

时间:2017年9月7日(周四)  下午15:00-17:00

地点:主楼六层 能源与环境政策研究中心

 

主讲人介绍:

蔡港树博士,现任职于美国硅谷的圣塔克拉拉大学,兼任东北财经大学国际商学院海外院长,上海市“千人计划”专家,国家自然科学基金原“海外杰出青年”基金获得者。主要研究方向是多渠道供应链管理供应链金融等领域。在国际顶级及权威期刊,如POM, Marketing Science, MSOM,上发表论文30多篇。主持美国国家科学基金、中国国家自然科学基金等各类科研项目20余项。荣获国际电子商务会议最佳论文奖,堪萨斯州立大学商学院杰出教学和杰出研究奖,圣塔克拉拉大学院长卓越教学、卓越研究、和卓越服务奖,利威商学院最高影响力教学奖和最高影响力服务奖,Decision Sciences杰出副主编奖。现为国际顶级期刊POM资深副主编、权威期刊Decision Sciences副主编。

 

内容介绍:

Recent years have seen guarantor financing growing rapidly in developing countries where small firms do not have sufficient creditworthiness to secure bank loans by themselves. However, no paper has studied the efficacy of guarantor financing in a supply chain context. This paper investigates both manufacturer guarantor financing (MG) and 3PL (third-party logistics) guarantor financing (LG) in a four-party supply chain, featuring a manufacturer, a 3PL, a retailer, and a bank, in three different game settings: manufacturer Stackelberg leadership, 3PL Stackelberg leadership, and Nash game. Comparing MG to LG in each of the three game settings reveals that there exists a guarantor-follower advantage in which the whole supply chain can benefit from letting the Stackelberg follower be the guarantor. However, the follower’s preference of either MG or LG depends on the leader’s economies of scale in operational cost. While under Nash game, there is no difference between manufacturer and 3PL guarantor financing for the retailer and the supply chain, and both upstream firms prefer the other to be the guarantor. Furthermore, from the perspective of supply chain leadership, we find that the supply chain with longer hierarchy but with a leader can be more efficient with a gloomy outlook of the expected margin return of providing guarantor financing. Moreover, our analysis indicates that, if the upstream firms’ economies of scale are substantial, all firms still prefer guarantor financing even if the traditional bank financing is viable.


(审核: 颜志军)