附加合同条款的供应商和第三方物流信用担保融资策略研究

摘要/Abstract

摘要： 信用担保融资的本质在于担保人和金融机构之间的风险分担。本文基于供应商领导或第三方物流(3PL)领导两种权力结构,以供应商、3PL和资金约束零售商组成的三级供应链为研究对象,研究附加成本分担、收益共享和数量弹性合同条款的供应商信用担保融资与3PL信用担保融资的有效性。结果表明:(1)供应链成员对不同权力结构下两种信用担保融资的偏好受担保系数大小关系、零售商初始资金和市场需求影响;(2)两种信用担保融资中附加合同条款选择受零售商违约率影响;(3)相较于供应商领导,3PL领导的权力结构对供应链更有利。研究结果为不同权力结构下供应链信用担保方案和担保风险补偿合同条款设计提供建议。

关键词: 附加合同条款, 信用担保融资, 融资策略, 权力结构

Abstract: The essence of credit guarantee financing is the risk sharing between the guarantor and financial institution. Based on two power structures, supplier leadership and third-party logistics (3PL) leadership, this paper studies the effectiveness of supplier credit guarantee financing and 3PL credit guarantee financing with additional cost sharing, revenue sharing and quantity flexibility contract clauses in a three-tier supply chain composed of a supplier, a 3PL and a capital-constrained retailer. The following conclusions are obtained. First, the preferences of supply chain members for the two methods of credit guarantee financing under different power structures are affected by the guarantee coefficient, the initial capital of retailer and the market demand. Second, the choice of additional contract clauses in the two methods of credit guarantee financing is affected by the default rate of retailer. Third, compared with the supplier as the leader, the power structure of 3PL as the leader is more beneficial to the supply chain. The research results provide suggestions for the design of supply chain credit guarantee scheme and guarantee risk compensation contract clauses under different power structures.

Key words: additional contract clause, credit guarantee financing, financing strategy, power structure

刘涛, 康凯, 何孟雨. 附加合同条款的供应商和第三方物流信用担保融资策略研究[J]. 管理评论, 2024, 36(8): 247-261.

Liu Tao, Kang Kai, He Mengyu. Research on Credit Guarantee Financing Strategies of Supplier and Third-party Logistics with Additional Contract Clauses[J]. Management Review, 2024, 36(8): 247-261.

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