Research On Financing Decisions Of Enterprise In Supply Chain Based On Duplex Stackelberg Game Models

Supply chain finance is a financing mode which is occurring in the supply chainbased on the value of commercial transactions and member enterprise with coreenterprise financing capacity and commercial credit. The using of supply chain financeinstrument is a game which is among supply chain financial system subjects. Researchis about game decision process which is about the selection of supply chain financialsystem subjects of supply chain finance instrument; it helps to analyze the supply chainmanagement connotation from theory and practice.Research on supply chain enterprise of supply chain finance instrument for thefinancing decision is based on the research results of supply chain finance and gametheory. Using normative research defines system variables, this paper constructedDuplex Stackelberg Game Models of secondary single cycle for three supply chainfinancing modes-prepayments financing, chattel pledge financing, and accountsreceivable financing. The game of bank and supply chain enterprises sets bank as leaderand supply chain enterprises as follower. The game of core enterprise and memberenterprise sets core enterprise as leader and member enterprise as follower. Usingexpected revenue function of subjects and game equilibrium analyzed strategic choiceof member enterprise. The results show that: In prepayments financing mode, when coreenterprise guarantees and bank loans, the factors in the process of member enterprisefinancing decision are wholesale price and loan rate. In chattel pledge financing mode,when core enterprise guarantees and bank loans, the factors in the process of memberenterprise financing decision are inventory pledge rate and loan rate. In accountsreceivable financing mode, when core enterprise guarantees and bank loans, the factorsin the process of member enterprise financing decision are margin which is delivered bycore enterprise，loan rate and accounts receivable. Three modes are given the conditionsof the subject selection strategy respectively, it provides a basis for the financingdecision process to analyze the supply chain member enterprise of financing decision.