Research On Financing Strategy And Coordination Of Green Supply Chain Considering Retailer Risk Aversion

Constructing green supply chain system is an effective means to solve the environment and development.Capital constraint restricts the development of green supply chain.Providing financing strategies for enterprises becomes the key to solve the problem of capital constraint.In reality,due to the uncertainty of market demand,enterprises will take inventory risks and various risks in the financing process to show risk aversion,which will have a certain impact on the financing decisions and choices of the supply chain.Therefore,this paper adopts CVa R risk measurement method to measure the risk of risk-averse retailers,and studies and analyzes the influence of retailer’s risk avoidance degree on optimal decision,retailer’s risk return,supplier’s profit and green supply chain financing strategy.First of all,taking the capital-constrained green supply chain as the research background,considering the uncertain market demand,the risk measurement method of CVa R is adopted to measure the risk of risk-averse retailers,and the Stackelberg game model dominated by suppliers is established.Analyze the impact of retailers’ risk aversion,consumers’ green awareness and prepayment discount/bank loan rate on the decision-making,revenue and supply chain financing options of both sides of the supply chain.The results show that retailer’s degree of risk aversion has a reverse effect on retailer’s risk return and supplier’s profit,and product greenness decreases with the decrease of retailer’s degree of risk aversion.The optimal decision of the two financing modes has nothing to do with the initial capital,but only with the prepayment discount/bank loan interest rate.When the prepayment discount is equal to the bank interest rate,suppliers will always choose the prepayment financing mode to solve the constraint problem.Consumers’ green consciousness plays a positive role in green supply chain.Secondly,in order to coordinate the green supply chain,the conditions for realizing supply chain coordination under two financing modes are obtained through two-part pricing contracts,and the effects of retailers’ avoidance degree and prepayment discount/bank interest rate on supply chain coordination and supply chain financing mode selection are analyzed.The results show that production cost and prepayment discount/bank interest rate have the greatest influence on the coordination conditions of supply chain.When prepayment discount is equal to bank interest rate,the coordination conditions of bank loan financing are more severe than that of prepayment financing.After coordination,greenness is positively correlated with retailers’ risk aversion degree.The conclusion is helpful for enterprises to make effective use of the two financing methods and promote the rapid development of green supply chain.