摘要
为了更好的研究电商参与对供应链金融融资模式的影响,通过分析电商贷款、银行贷款、统一授信三种电商参与下的供应链金融融资流程,建立了商业银行与电商平台在电商贷款、银行贷款、统一授信三种模式下的收益函数。并通过对比分析三种模式下的贷款总收益、商业银行收益和电商平台收益情况,探讨了商业银行和电商平台以自身收益最大化作为目标的决策。最后,通过数值分析验证了电商平台资金机会成本、商业银行资金无风险收益率、零售商订货量等因素的变化对贷款总收益、商业银行收益、电商平台收益的影响情况。研究结果表明:贷款总收益随订购产品数量、产品批发价格的增大而增大,随努力成本、单位库存成本的增大而减小;商业银行收益随无风险收益率的增大而增大,随激励系数的增大而减小;当电商平台资金的机会成本小于商业银行资金的无风险收益率且电商平台的资金足够时,电商平台更倾向于选择电商贷款模式;否则,电商平台更倾向于选择统一授信模式。
In order to research the impact of e-commerce participation on supply chain financial,this paper analyzes the lending process of e-commerce loan model,bank loan model and unified credit model.By establishing the revenue functions of commercial banks and e-commerce platforms under three modes,this paper analyses their revenue status under three modes,and discusses the decision-making of e-commerce platform aiming at maximizing its own revenue.Finally,this paper verifies the impact of changes in factors such as the opportunity cost of e-commerce platform,the risk-free rate of commercial bank funds,and the order quantity of retailers on the total loan income,commercial bank income,and e-commerce platform income.The research results show that the total loan income increases with the increase of the quantity of ordered products and the wholesale price of products,and decreases with the increase of labor cost and unit inventory cost;The income of commercial banks increases with the increase of risk-free rate,and decreases with the increase of the excitation coefficient;When the opportunity cost of the e-commerce platform funds is less than the risk-free rate of the commercial bank funds and the funds of the e-commerce platform are sufficient,e-commerce platform prefers e-commerce loan mode;otherwise,e-commerce platform prefers unified credit mode.
作者
李志鹏
朱淑珍
吴筱菲
LI Zhi-peng;ZHU Shu-zhen;WU Xiao-fei(Glorious Sun School of Business and Management,Donghua University,Shanghai 200051,China)
出处
《系统工程》
CSSCI
北大核心
2019年第2期129-138,共10页
Systems Engineering
基金
国家社会科学基金资助项目(17BJY195)
中央高校基本科研业务费专项资金资助项目(CUSF-DH-D-2018051)
关键词
供应链金融
电商平台
融资模式
电子订单融资
Supply Chain Finance
Electronic Commercial Platform
Financing Mode
Purchase Order Financing
