Supply chain networks with corporate financial risks and trade credits under economic uncertainty

详细信息	查看全文 | 推荐本文 |

• 作者：Zugang Liu^a ; ^{ZXL23@PSU.EDU} ; Jose M. Cruz^b ; ^{jcruz@business.uconn.edu}
• 关键词：Supply chain ; Financial risks ; Variational inequality
• 刊名：International Journal of Production Economics
• 出版年：2012
• 期刊代码：90_09255273
• 类别：et
• 出版时间：May, 2012
• 卷：137
• 期：1
• 页码：55-67
• 文件大小：891 K

摘要

The focus of this paper is to provide an analytical framework which can be used to investigate how financial risks affect the values of interconnected supply chain firms from a network perspective, and how financial risks affect the supply chain firms' profitability as well as the cash and credit transactions. In particular, we develop a variational inequality equilibrium model in conjunction with capital asset pricing model (CAPM) and the net present value (NPV) to determine the optimal supply chain prices, profits, and implicit equity values of supply chain firms under financial risks and economic uncertainty. We illustrate the analytical framework with computational studies which yield interesting managerial implications to the following questions: (1) How do financial risks and economic uncertainty affect the values of interconnected supply chain firms from a network perspective? (2) How do financial risks and economic uncertainty affect the supply chain firms' profitability as well as the cash and credit transactions? (3) How does the effect of financial risks change under different competition scenarios?