摘要
融资模式的选择是供应链金融研究的热点问题。融资质量好坏对于供应链的可持续发展至关重要。文章考虑由碳资源供应商和资金短缺的碳排放依赖型制造商组成供应链的决策优化问题。在碳限额交易机制下,通过比较部分信贷担保(PCG)和延期支付信贷担保(TPCG)两种融资模式下供应链各成员的绩效,刻画出均衡融资模式存在的条件。结果表明,供应商的担保系数对受资金约束的低碳供应链融资模式有影响,当担保系数高于某一阈值时,TPCG融资为低碳供应链的最优融资均衡;在两种融资机制下,制造商的利润随着碳限额的增加而增加,而碳资源供应商的利润随着碳限额的增加先增加后减少。最后,通过算例对模型结论进行了验证,从而为低碳供应链的管理提供理论支持。
The choice of financing mode is a hot issue in supply chain finance research.The quality of financing is crucial to the sustainable development of supply chain.This paper considers the decision optimization problem of a supply chain consisting of a carbon resource supplier and a carbon emissions-dependent manufacturer short of capital.Under the cap-and-trade mechanism,the conditions for the existence of equilibrium financing mode are described by comparing the performance of each member of the supply chain under the financing mode of partial credit guarantee(PCG)and deferred payment credit guarantee(TPCG).The results show that the supplier guarantee coefficient affects the optimal financing for a financially constrained low-carbon supply chain,and TPCG financing is the optimal financing equilibrium for a low-carbon supply chain when the guarantee coefficient is higher than a certain threshold.Under the two financing mechanisms,manufacturers'profits increase with the increase of carbon allowances,while suppliers'profits first increase and then decrease with the increase of carbon allowances.In addition,numerical analysis is also used to verify and compare the model conclusions in this paper,so as to provide theoretical support for the management of low-carbon supply chain.
作者
李雪昕
马骋
庄亚宁
曹静静
LI Xuexin;MA Cheng;ZHUANG Yaning;CAO Jingjing(Business School,Qingdao University,Qingdao 266000,China)
出处
《物流科技》
2025年第11期100-105,111,共7页
Logistics Sci Tech
基金
国家自然科学基金重点项目(72432005)
山东省自然科学基金项目(ZR2020MA024)。
关键词
供应链金融
碳限额交易机制
碳排放依赖型的供应链
资金限制
融资
supply chain finance
cap-and-trade mechanism
emission-dependent supply chains
capital constraint
financing
