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Research On The Selection Of Financing Models For E-commerce Supply Chain Under Risk Aversio

Posted on:2022-10-07Degree:MasterType:Thesis
Country:ChinaCandidate:K CaiFull Text:PDF
GTID:2568307103457764Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
This paper introduces the attitude of risk aversion into a supply chain system including e-commerce platform,manufacturer and bank,and explores how the degree of risk aversion affects supply chain companies’ financing in banks when e-commerce platforms and manufacturers have risk aversion respectively.Financing options between financing with e-commerce platforms.Using the CVaR method and the Stackelberg game,the paper constructs a risk-averse e-commerce platform or manufacturer and the risk-return model of the bank,and obtains the optimal output and the most e-commerce platform when the manufacturer chooses the e-commerce platform(bank)for financing.Optimal lending rates(optimal yield and bank best lending rates).When the e-commerce platform is risk-averse and the manufacturer is risk-neutral,the conditional value-at-risk of the e-commerce platform and the manufacturer’s expected profit under the two financing modes are compared and analyzed.The study found that when the risk aversion coefficient of the e-commerce platform is low and the supplier cost is low(high),the profit loss of the e-commerce platform under the bank financing model is less(more),and the platform tends to bank financing(platform financing);When the risk aversion coefficient of the business platform is high and the supplier cost is low(high),the profit loss of the e-commerce platform under the bank financing model is less(more),and bank financing(platform financing)is preferred.For manufacturers,it is often more profitable to choose bank financing than to choose e-commerce platform financing.In addition,there is an equilibrium interval,so that manufacturers can obtain higher profits,and the conditional value at risk of e-commerce platforms is low.At this time,manufacturers can maximize supply chain profits by choosing bank financing.When the manufacturer is risk averse and the e-commerce platform is risk neutral,the risk averse manufacturer tends to choose bank financing when the cost is low and e-commerce platform financing when the cost is high.For the e-commerce platform,the optimal profit range is related to the sales price and manufacturer’s cost.When the sales price is high,the manufacturer’s cost is too low or too high,which will make it tend to choose platform financing,otherwise it will tend to choose bank financing;When the sales price is low,the manufacturer’s low cost will make the e-commerce platform tend to choose platform financing,otherwise it will tend to choose bank financing.Further,through equilibrium analysis,we can find out the best financing method for manufacturers,so as to benefit both manufacturers and e-commerce platform to achieve win-win results.
Keywords/Search Tags:E-commerce supply chain, Risk aversion, CVaR, Stackelberg game, Financing options
PDF Full Text Request
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