The Trust Perception And Trading Decision Of Buyer's Electronic Order Financing Participants

With the rise and development of internet supply chain finance,the buyer's electronic order financing mode has brought a good opportunity to solve the financing problems of retailers(buyers,financing enterprises)in the supply chain.With the help of credit enhancement of suppliers(sellers,core enterprises)and information transmission of B2 B platform,banks perceive lower risks,and their willingness to lend is also improved.However,the buyer's electronic order financing has its own unique risks,such as lack of trust,false transactions,fraudulent money laundering and so on.This makes banks have a low level of trust perception and are reluctant to participate in financing.Therefore,it is necessary to introduce trust mechanism to improve banks' trust perception.Based on the buyer's electronic order financing model,this paper constructs and introduces a three-dimensional trust mechanism to further enhance the bank's trust perception and loan willingness,and to provide good theoretical guidance for the bank and other participants in the transaction decision-making.By consulting the relevant literature on buyer's electronic order financing,trust perception,and banks' trust and influence of trust perception on trading decisions,aiming at the financing difficulties of retailers,this paper proposes to introduce a three-dimensional trust mechanism to enhance banks' trust in buyer's electronic order financing,in order to reduce the threshold for retailers to obtain loan financing.This paper combs the theoretical foundations of buyer's electronic order financing,trust perception,expected utility and loss aversion,and newsboy model,and lays a foundation for the construction of three-dimensional trust mechanism and the establishment of buyer's electronic order financing mathematical model with three-dimensional trust mechanism.Combining with buyer's electronic order financing,this paper constructs a three-dimensional trust mechanism from three aspects: system,personality and reputation.It qualitatively analyses the mechanism of trust brought by the influencing factors of each trust dimension for banks,and aggregates each dimension of three-dimensional trust into a quantifiable factor.The factors of three-dimensional trust aggregation are quantified as quality inspection probability of B2 B platform,retailer's loss aversion degree,supplier's product qualitylevel and introduced into buyer's electronic order financing,a mathematical model of buyer's electronic order financing based on three-dimensional trust perception is established by using game theory.The influence of bank's trust perception and trust perception on trading decisions of financing participants is analyzed by solving the model with quantitative analysis method.Finally,the conclusions obtained by solving the model are simulated and analyzed by using MATLAB,and the conclusions are summarized.The results show that the three-dimensional trust mechanism enhances banks' trust perception in unfamiliar network environment and their willingness to participate in financing.The bank's interest rate decision formula is its trust perception function.When the bank perceives a higher degree of trust through rational calculation of three-dimensional trust variables,the interest rate determined by the bank will be lower,the optimal product quality level determined by the supplier and the optimal order quantity determined by the retailer accordingly will be higher.The results show that restraining the behavior of suppliers and retailers from three aspects: system,personality and reputation can enhance banks' trust and loan willingness,thus effectively solving the financing difficulties of retailers.