资金约束下订单农业供应链内外部融资策略研究

doi:10.12005/orms.2020.0091

摘要/Abstract

摘要： 考虑一个农户和一个公司组成的二级订单农业供应链,农户面临资金约束及农产品产出随机性,分别研究了银行贷款融资和带有价格折扣的预付款两种融资模式下,农户的生产决策和公司的收购价格决策,进而探讨了供应链内外部融资方式的比较与选择。研究结果表明,农产品产出随机性风险导致农户减少种植规模,公司降低农产品的收购价格,不利于农户增加收入,对公司利润产生不利影响;由于农户的弱势地位,相比银行贷款融资模式,预付款融资无法实现农户与公司双方的帕累托改进。

关键词: 订单农业供应链, 银行融资, 预付款, 产出随机

Abstract: Considering a contract-farming supply chain with a farmer and a company, the farmer faces capital constraint and yield uncertainty. We study the bank's loan financing and the advance payment with price discounts, the farmer's production decisions and the company's wholesale price decision, and then explore the comparison and selection of the internal and external financing methods in the supply chain. The result shows that the yield uncertainty leads the farmer to reduce the planting scale and the company to lower the wholesale price of agricultural products, which is not conducive to increasing income of the farmer and company. Due to the weak position of farmers, compared with bank loan financing, advance payment financing cannot achieve Pareto improvement between the farmer and the company.

Key words: contract-farming supply chain, bank financing, advance payment, yield uncertainty

中图分类号:

F274

史立刚, 彭红军, 丛静. 资金约束下订单农业供应链内外部融资策略研究[J]. 运筹与管理, 2020, 29(4): 62-69.

SHI Li-gang, PENG Hong-jun, CONG Jing. Internal and External Financing Strategies of Contract-Farming Supply Chain under Capital Constraint[J]. Operations Research and Management Science, 2020, 29(4): 62-69.

参考文献

[1] Bellemare MF. Contract farming: opportunity cost and trade-offs[J]. Agricultural Economics, 2018, 49(3): 279-288.
[2] Hendrarini H, Sumartono. Syariah-based contract farming as a socio-business mnodel: experience of local phenomena[J]. Multidisciplinary Sciences, 2017, 23(12): 11928-11932.
[3] Vicol M. Is contract farming an inclusive alternative to land grabbing? the case of potato contract farming in maharashtra, india[J]. Geoforum, 2017, 85: 157-166.
[4] 于辉,李西,王亚文.电商参与的供应链融资模式:银行借贷vs电商借贷[J].中国管理科学,2017,25(7):134-140.
[5] Elahi E, Abid M, Zhang L, Haq S U, Sahito J G M. Agricultural advisory and financial services; farm level access, outreach and impact in a mixed cropping district of Punjab, Pakistan[J]. Land Use Policy the International Journal Covering All Aspects of Land Use, 2018, 71: 249-260.
[6] Soeters S, Weesie R, Zoomers A. Agricultural investments and farmer-fulani pastoralist conflict in west african drylands: a northern ghanaian case study[J]. Sustainability, 2017, 9(11): 2063.
[7] Maitra P, Mitra S, Mookherjee D, Motta A, Visaria S. Financing smallholder agriculture: an experiment with agent-intermediated microloans in india[J]. Journal of Development Economics, 2017, 23(23): 463-470.
[8] Olaitan M A, Ogunlaja B O, Juma L, Olasupo M A, Yusuf J, Oyelade O A. Promoting agricultural productivity in nigeria-the case of the agricultural credit guarantee scheme fund (ACGSF): 1981 to 2014[J]. Agricultural Mechanization in Asia Africa & Latin America, 2017, 48(1): 59-70.
[9] 罗荷花,李明贤,曹艺馨.我国农户融资需求及其融资可获得性的影响因素分析[J].农村经济,2015(8):52-57.
[10] Chen Y H, Nie P Y, Wang X H. Asymmetric duopoly competition with innovation spillover and input constraints[J]. Journal of Business Economics and Management, 2015, 16(6): 1124-1139.
[11] Nie P Y, Chen Y H. Duopoly competitions with capacity constrained input[J]. Economic Modelling, 2012, 29(5): 1715-1721.
[12] Buzacott J A, Zhang R Q. Inventory Management with Asset-Based Financing[J]. Management Science, 2004, 50(9): 1274-1292.
[13] Yan N, Liu C, Liu Y, Sun B. Effects of risk aversion and decision preference on equilibriums in supply chain finance incorporating bank credit with credit guarantee[J]. Applied Stochastic Models in Business & Industry, 2017, 33(6): 602-625.
[14] Jin W, Luo J. Optimal inventory and insurance decisions for a supply chain financing system with downside risk control[J]. Applied Stochastic Models in Business & Industry, 2017, 33(1): 63-80.
[15] Yang H, Zhuo W, Shao L. Equilibrium evolution in a two-echelon supply chain with financially constrained retailers: the impact of equity financing[J]. International Journal of Production Economics, 2017, 185: 139-149.
[16] Chen J, Zhou Y W, Zhong Y. A pricing/ordering model for a dyadic supply chain with buyback guarantee financing and fairness concerns[J]. International Journal of Production Research, 2017, 55(7): 1-18.
[17] Zhou Y W, Cao B, Zhong Y, Wu Y. Optimal advertising/ordering policy and finance mode selection for a capital-constrained retailer with stochastic demand[J]. Journal of the Operational Research Society, 2017, 68(12): 1620-1632.
[18] Zhang B, Wu D, Liang L, Olson D L. Supply chain loss averse newsboy model with capital constraint[J]. IEEE Transactions on Systems Man & Cybernetics Systems, 2017, 46(5): 646-658.
[19] 王春超,赖艳.金融抑制与企业融资渠道选择行为研究[J].经济评论,2017(5):51-63.
[20] 肖肖,骆建文.面向资金约束制造商的双渠道供应链融资策略[J].系统管理学报,2016,25(1):121-128,138.
[21] Peura H, Yang SA, Lai G. credit in competition: a horizontal benefit[J]. Manufacturing Service Operation Management, 2017, 19(2): 263-289.
[22] Wu D D, Yang L P, Olson D L. Green supply chain management under capital constraint[J]. International Journal of Production Economics, 2018, 215: 3-10.
[23] Kouvelis P, Zhao W H. Financing the newsvendor: supplier vs. bank, and the structure of optimal trade credit contracts[J]. Operation Research, 2012, 60(3): 566-580.
[24] Chen X. A model of trade credit in a capital-constrained distribution channel[J]. International Journal of Production Economics, 2015, 159(C): 347-357.
[25] 占济舟,周献中,公彦德.生产资金约束供应链的最优融资和生产决策[J].系统工程学报,2015,30(2):190-200.
[26] 王文利,骆建文.零售商提前支付与贷款担保下的供应商融资策略[J].管理工程学报,2013,27(1):178-184.
[27] Wang T R, Lan Q G, Chu Y Z. Supply chain financing model: based on china's agricultural products supply chain[J]. Applied Mechanics & Materials, 2013, 380-384: 4417-4421.
[28] Patil S, Aditya, Jha A K. Role of financial agencies in integrating small farmers into a sustainable value chain: a synthesis-based on successful value chain financing efforts[J]. Current Science, 2016, 110(11): 2082-2090.
[29] Chen K Z, Joshi P K, Cheng E, Birthal P S. Innovations in financing of agri-food value chains in China and India[J]. China Agricultural Economic Review, 2015, 7(4): 616-640.
[30] Peng H J, Pang T. Optimal strategies for a three-level contract-farming supply chain with subsidy[J]. International Journal of Production Economics, 2019, 216: 274-286.
[31] 彭红军,史立刚,庞涛.基于CVaR的产出随机订单农业供应链最优策略[J].统计与决策,2019,35(20):46-49.
[32] 叶飞,黄建辉,林强.资金约束下订单农业供应链中的农户最优决策[J].系统工程理论与实践,2017,37(6):1467-1478.
[33] 黄建辉,叶飞,周国林.产出随机及贸易信用下农产品供应链农户决策与政府补偿价值[J].中国管理科学,2018,26(1):107-117.
[34] 金伟,骆建文.基于双边资金约束供应链的均衡组合融资策略[J].系统工程理论与实践,2017,37(6):1441-1451.
[35] Jiang L, Hao Z. Alleviating supplier's capital restriction by two-order arrangement[J]. Operations Research Letters, 2014, 42(6-7): 444-449.
[36] 王文利,骆建文.基于价格折扣的供应链预付款融资策略研究[J].管理科学学报,2014,17(11):20-32.