Research On Financing Decision Of Low-carbon Supply Chain Under Different Channel Power Structures

With the implementation of the national low-carbon policy and the development of e-commerce,an increasing number of manufacturers have conduct low-carbon production and sold products through dual channels.However,the low-carbon transformation and dual-channel operations required large amount of funds,which lead to capital-constraint problem for manufacturers.But capital-constrained manufacturers often find it difficult to get loans from banks and other financial institutions because of a lack of collateral,production scale and credibility.The rise of ECP(E-Commerce Platform)financing and3PL(Third Party Logistics)financing services can effectively alleviate the financial constraints of manufacturers,and thus promote the low-carbon transformation of supply chain.In addition,there are differences in the operational decisions of dual-channel supply chains under the M(Manufacturer)power structure and the E(E-commerce platform)power structure,and channel differential pricing and unified pricing strategies also have an important impact on the operational decisions of supply chains.Therefore,under different channel power structures and pricing strategies,it is of great significance to study the choice of the low-carbon dual-channel supply chain financing strategies,and explore the impact of channel power structures and pricing strategies on supply chain carbon emission reduction,pricing,and financing decisions.Based on the above background,this paper constructs a Stackelberg game model for a low-carbon dual-channel supply chain under different channel power structures and pricing strategies,analyzes and compares the optimal decisions of the manufacturer and e-commerce platform under the ECP financing strategy and the 3PL financing strategy,and uses numerical simulation methods to further verify the correctness of the conclusions.The results show that:(1)In different situations,the financing decisions of the manufacturer and the e-commerce platform depend on the ratio of transportation fee to unit production cost;When the ratio is small,the ECP financing strategy is a balanced strategy for the manufacturer and the e-commerce platform;When the ratio is large,the 3PL financing strategy is the balance strategy between the two companies;When the ratio is within a certain range,there is a conflict in financing decisions between the manufacturer and the e-commerce platform.(2)Under the channel differential pricing strategy,the manufacturer is more inclined to the 3PL financing strategy under the M power structure,but more inclined to the ECP financing strategy under the E power structure.Under the M power structure,the e-commerce platform is more willing to provide financing services to the manufacturer,while under the E power structure,the prerequisite for providing financing services to the manufacturer is higher.Under the unified channel pricing strategy,the manufacturer is more inclined to ECP financing strategy under the M power structure,and the e-commerce platform is more willing to provide financial help to the manufacturer under the E power structure.(3)Under the channel differential pricing strategy,the 3PL financing strategy has more advantages in the supply chain system performance.Under the unified channel pricing strategy,the overall performance of supply chain under M power structure under ECP financing strategy is higher than that under 3PL financing strategy.Under the E power structure,when the ratio is higher,the supply chain system performance under the 3PL financing strategy is higher.Otherwise,the supply chain system performance under the ECP financing strategy is higher.(4)Under the M power structure and the E power structure,unified channel pricing strategy can effectively coordinate channel conflicts between the manufacturer and the e-commerce platform,strengthen the willingness of both parties to cooperate in financing,but may reduce the overall performance of the supply chain.Only under the E power structure and the ECP financing strategy,when the freight is high,the supply chain system performance under the unified channel pricing strategy is higher than that under the differential pricing strategy.(5)Both the manufacturer and the e-commerce platform should give priority to publishing operational strategies,but the e-commerce platform giving priority to publishing retail prices is more conducive to the manufacturer’s carbon emission reduction decisions.Under the M power structure,the carbon emission reduction level under the channel differential pricing strategy is higher than that under the unified pricing strategy.However,under the E power structure and the ECP financing strategy,when the transportation fee is low,the unified channel pricing strategy is more conducive to the carbon emission reduction of the manufacturer.Otherwise,channel differential pricing is more conducive to carbon emission reduction of the manufacturer.Under the E power structure and the 3PL financing strategy,the manufacturer will make higher carbon emission reduction decisions under unified channel pricing strategy.