存在破产成本时保理授信下供应商赊销策略研究

doi:10.12005/orms.2022.0017

运筹与管理 ›› 2022, Vol. 31 ›› Issue (1): 115-122.DOI: 10.12005/orms.2022.0017

存在破产成本时保理授信下供应商赊销策略研究

田春英¹, 陈东彦², 陈兆波³, 章定⁴

1.哈尔滨理工大学经济与管理学院,黑龙江哈尔滨 150080;
2.哈尔滨理工大学理学院,黑龙江哈尔滨 150080;
3.山西人文社科重点基地:装备制造创新发展研究中心,山西太原 030024;
4.纽约州立大学奥斯威哥商学院,纽约 13126

收稿日期:2019-06-18 出版日期:2022-01-25 发布日期:2022-02-11
通讯作者: 陈东彦(1964-),女,江西赣州人,教授,博士,研究方向:系统优化,供应链管理。
作者简介:田春英(1982-),女,吉林长春人,讲师,硕士,研究方向:供应链金融。
基金资助:
国家社会科学基金资助项目(19BGL259)

Study on the Supplier’s Credit Sale Strategies under Factoring Credit When Bankruptcy Costs Exist

TIAN Chun-ying¹, CHEN Dong-yan², CHEN Zhao-bo³, ZHANG Ding⁴

1. School of Economics and Management, Harbin University of Science and Technology, Harbin 150080, China;
2. School of Science, Harbin University of Science and Technology, Harbin 150080, China;
3. Key Research Bases for Humanities and Social Sciences in Shanxi: Research Center for Innovation and Development of EquipmentManufacturing Industry, Taiyuan 030024, China;
4. School of Business, State University of New York, Oswego, NY 13126, USA

Received:2019-06-18 Online:2022-01-25 Published:2022-02-11

摘要/Abstract

摘要： 在存在破产成本的前提下,构建了保理商确定授信额度的量化模型,并研究了供应商如何在保理授信下确定赊销量的问题。研究结果表明,保理商的授信以保理费率不低于临界值为前提。当保理费率高于一定水平时,授信额度较高,供应商将在额度内进行赊销交易。否则,供应商将超出授信额度进行赊销交易,并且此时,若固定破产成本高于阈值,供应商最优赊销量存在上限,保理对供应链的作用主要体现在其风险分担功能上;若固定破产成本低于阈值,供应商最优赊销量存在下限,保理对供应链的作用主要体现在其融资功能上。

关键词: 供应链管理, 保理融资, 授信额度, 破产成本

Abstract: Considering the bankruptcy costs, this paper establishes a quantitative model to study a factor’s optimal line of credit and a supplier’soptimal credit saleamount under factoring credit. The results show that the factor will offer a line of credit if only the factoring fee is no less than a critical level. In the case that the factoring fee is high enough, the factoring finance will be efficient for the supplier to make credit sale to his downstream customer within the credit line checked by the factor. Otherwise, the supplier’s credit sale may exceed the line. In this situation, there exists a threshold such that if the fixed bankruptcy cost is aboveit, then the supplier’s credit sale amount will always be lower than a certain upper limit. The devotion of factoring to the supply chain lies in its risk sharing function. However, if the fixed bankruptcy cost is below the threshold, the supplier’s credit sale amount will always be higher than a certain lower limit, and the supply chain tends to utilize the financing function of the factoring.

Key words: supply chain management, factoring finance, creditline, bankruptcy cost

中图分类号:

田春英, 陈东彦, 陈兆波, 章定. 存在破产成本时保理授信下供应商赊销策略研究[J]. 运筹与管理, 2022, 31(1): 115-122.

TIAN Chun-ying, CHEN Dong-yan, CHEN Zhao-bo, ZHANG Ding. Study on the Supplier’s Credit Sale Strategies under Factoring Credit When Bankruptcy Costs Exist[J]. Operations Research and Management Science, 2022, 31(1): 115-122.

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存在破产成本时保理授信下供应商赊销策略研究

Study on the Supplier’s Credit Sale Strategies under Factoring Credit When Bankruptcy Costs Exist

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