基于违约风险的供应链信用契约协调设计

Designing Trade Credit Coordination Contracts in Supply Chain Based on Default Risk

摘要:

为了发现两级供应链中供应商信用合约定价机制，在供应链决策主体中增加了违约风险的期望损失，研究了两级集成供应链和分散供应链的最优决策，讨论了供应商作为供应链协调的领导者如何给商业信用风险定价，才能实现分散供应链的协调.结论认为商业信用的风险定价与资本市场的风险溢价定价遵从共同的规律，即资本资产定价模型显示的高风险高收益.

Abstract:

In order to find the supplier trade credit pricing strategies in two echelon supply chain it is reasonable to consider the default risk in decision making. The optimal decisions were investigated on two echelon centralized and decentralized supply chain. The realization of the coordination of supply chain was discussed by considering the pricing of the trade risk premium from the perspective of the supplier who is the leader in the supply chain. The result show that the pricing on trade credit for the coordination of supply chain and on the capital market complies with the same rule, that is, the higher risk corresponds with the higher profit as the capital asset pricing model indicates.