基于中小供应商低碳融资需求的核心企业统一授信额度配置研究

doi:10.16381/j.cnki.issn1003-207x.2020.1871

中国管理科学 ›› 2023, Vol. 31 ›› Issue (6): 71-81.doi: 10.16381/j.cnki.issn1003-207x.2020.1871

基于中小供应商低碳融资需求的核心企业统一授信额度配置研究

孟庆春¹, ³, ⁴, 潘建¹, ³, ⁴, 王自然¹, ³, ⁴, 戎晓霞², ³, ⁴

1.山东大学管理学院,山东济南250100; 2.山东大学数学学院,山东济南250100;3.山东大学价值共创网络研究中心,山东济南250100;4.山东省高等学校数智管理与决策模拟实验室,山东济南250100

收稿日期:2020-10-01 修回日期:2021-06-21 出版日期:2023-06-20 发布日期:2023-06-17
通讯作者: 潘建(1993-)，男(汉族)，山东烟台人，山东大学管理学院，博士研究生，研究方向：供应链金融，Email:panjian@mail.sdu.edu.cn. E-mail:panjian@mail.sdu.edu.cn
基金资助:
国家自然科学基金资助面上项目(71974115)

Research on Optimized Allocating the Unified Credit Line of Focal Firm for Low-carbon Financing of Small and Medium-sized Suppliers

MENG Qing-chun¹, ³, ⁴, PAN Jian¹, ³, ⁴, WANG Zi-ran¹, ³, ⁴, RONG Xiao-xia², ³, ⁴

1. School of Management, Shandong University, Jinan 250100, China;2. School of Mathematics, Shandong University, Jinan 250100, China;3.Research Center for Value Co-creation Network, Shandong University, Jinan 250100, China;4.The digitalized & Intelligent Management and Decision Simulation Laboratory of College and Universities in Shandong Province, Jinan 250100, China

Received:2020-10-01 Revised:2021-06-21 Online:2023-06-20 Published:2023-06-17
Contact: 潘建 E-mail:panjian@mail.sdu.edu.cn

摘要/Abstract

摘要： 针对多家中小供应商存在低碳融资需求但缺乏外部融资渠道问题，基于融资担保理论，提出了核心企业统一授信担保融资模式。在确定中小供应商低碳融资需求的基础上，依据核心企业统一授信额度是否充足构建了两种配置模型，利用Karush-Kuhn-Tucker条件给出了核心企业的最优配置决策。在核心企业统一授信额度不足时对比了两种模型的配置结果，发现考虑低碳投资效率能够提高中小供应商总利润，但降低了核心企业及部分中小供应商的利润。进一步通过引入利润共享因子弥补了改进模型后部分企业的利润损失，实现了各方利润的帕累托改进。研究为存在低碳资金约束的中小供应商获得供应链融资提供了一种新思路。

关键词: 低碳融资；统一授信额度；优化配置；供应链

Abstract: Facing the environment of carbon market transactions and carbon quotas, there are many small and medium-sized suppliers with low-carbon financing needs in the same supply chain. However, they are prevented by the higher cost of external financing to develop low-carbon. At the same time, the stability of the entire supply chain is also affected. This paper attempts to solve the problem of internal financing in the supply chain when there are financing needs for multiple small and medium-sized suppliers in the same supply chain.

Key words: low-carbon financing; unified credit line; optimized allocation; supply chain

中图分类号:

F205
F062.2

孟庆春, 潘建, 王自然, 戎晓霞. 基于中小供应商低碳融资需求的核心企业统一授信额度配置研究[J]. 中国管理科学, 2023, 31(6): 71-81.

MENG Qing-chun, PAN Jian, WANG Zi-ran, RONG Xiao-xia. Research on Optimized Allocating the Unified Credit Line of Focal Firm for Low-carbon Financing of Small and Medium-sized Suppliers[J]. Chinese Journal of Management Science, 2023, 31(6): 71-81.

参考文献

［1］ Oliveira-Neto G C, Leite R R, Shibao F Y, et al. Framework to overcome barriers in the implementation of cleaner production in small and medium-sized enterprises: multiple case studies in Brazil［J］. Journal of Cleaner Production, 2016, 142(1): 50-62.
［2］ Fahimnia B, Sarkis J, Eshragh A. A tradeoff model for green supply chain planning: a leanness-versus-greenness analysis［J］. Omega, 2015, 54: 173-190.
［3］ Zakeri A, Dehghanian F, Fahimnia B, et al. Carbon pricing versus emissions trading: a supply chain planning perspective［J］. International Journal of Production Economics, 2015, 164: 197-205.
［4］王许,姚星,朱磊. 基于低碳融资机制的CCS技术融资研究［J］. 中国人口·资源与环境,2018,28(4):17-25.Wang Xu, Yao Xing, Zhu Lei. Research on financing of CCS technologies: based on the analysis of the low-carbon technology financing mechanism and practical experiences［J］. China Population, Resources andEnvironment,2018,28(4):17-25.
［5］孟庆春, 张夏然, 郭影. “供应链+多元主体”视角下中小制造企业污染共治路径与机制研究［J］. 中国软科学, 2020(9): 100-110.Meng Qingchun, Zhang Xiaran, Guo Ying. The co-governance path and mechanism of small and medium-sized manufacturingenterprises’ pollution from the perspective of “supply chain + multiple subjects”［J］. ChinaSoft Science, 2020(9): 100-110.
［6］宋华, 卢强. 什么样的中小供应商能够从供应链金融中获益?——基于网络和能力的视角［J］. 管理世界, 2017(6): 104-121.Song Hua, Lu Qiang. What kind of small and medium-sized enterprises can benefit from supply chain finance? Based on the network and capability perspective［J］. Management World, 2017(6): 104-121.
［7］宋华.供应链金融［M］.北京:中国人民大学出版社,2015.Song Hua. Supply chain finance［M］. Beijing: China Renmin University Press,2015.
［8］ Yang Hui, Sun Fei, Chen Jing, et al. Financing decisions in a supply chain with a capital-constrained manufacturer as new entrant［J］. International Journal of Production Economics, 2019, 216: 321-332.
［9］陈东彦, 田春英, 陈兆波. 考虑应收账款质量的供应链无追索权保理融资模型［J］. 管理工程学报, 2020, 34(4): 101-108.Chen Dongyan, Tian Chunying, Chen Zhaobo. A supply chain non-recourse factoring finance considering the quality of the accounts receivable［J］. Journal of Management Engineering, 2020, 34(4): 101-108.
［10］ Choi T M. Optimal apparel supplier selection with forecast updates under carbon emission taxation scheme［J］. Computers & Operations Research, 2013, 40(11): 2646-2655.
［11］张汉江,张佳雨,赖明勇.低碳背景下政府行为及供应链合作研发博弈分析［J］.中国管理科学,2015,23(10):57-66.Zhang Hanjiang, Zhang Jiayu, Lai Mingyong. The game analysis of the supply chain cooperative R&D and the government’s behavior under the low-carbon background［J］. Chinese Journal of Management Science,2015,23(10):57-66.
［12］ Wang Qinpeng, Zhao Daozhi, He Longfei. Contracting emission reduction for supply chains considering market low-carbon preference［J］. Journal of Cleaner Production, 2016, 120: 72-84.
［13］ Wang X J, Choi S H. Impacts of carbon emission reduction mechanisms on uncertain make-to-order manufacturing［J］. International Journal of Production Research, 2015, 54(11): 3311-3328.
［14］ Yu Songmin, Fan Ying, Zhu Lei, et al. Modeling the emission trading scheme from an agent-based perspective: system dynamics emerging from firms’ coordination among abatement options［J］. European Journal of Operational Research, 2020, 286(3): 1113-1128.
［15］唐书传,刘云志,肖条军.考虑社会责任的供应链定价与碳减排决策［J］.中国管理科学,2020,28(4):99-108.Tang Shuchuan, Liu Yunzhi, Xiao Tiaojun. Pricing and carbon emission reduction decisions in asocially responsible supply chain［J］. Chinese Journal of Management Science,2020,28(4):99-108.
［16］ Ma Weimin, Zhang Ranran, Cheng Zhengrong. Analysis of internal and external funding mechanisms considering green consumer loyalty: agame-theoretic approach［J］. IEEE Access, 2020, 8: 2931-2947.
［17］ Cao Kaiying, Xu Bing, He Yi, et al. Optimal carbon reduction level and ordering quantity under financial constraints［J］. International Transactions in Operational Research, 2018, 27(5): 2270-2293
［18］ Cao Erbao, Du Lingxia, Ruan Junhu. Financing preferences and performance for an emission-dependent supply chain: supplier vs. bank［J］. International Journal of Production Economics, 2019, 208: 383-399.
［19］ Shen Bin, Wang Xin, Cao Yifan, et al. Financing decisions in supply chains with a capital-constrained manufacturer: competition and risk［J］. International Transactions in Operational Research, 2020, 27(5): 2422-2448.
［20］ Yan Nina, Sun Baowen, Zhang Hui, et al. A partial credit guarantee contract in a capital-constrained supply chain: financing equilibrium and coordinating strategy［J］. International Journal of Production Economics, 2016, 173: 122-133.
［21］杨浩雄, 段炜钰. 面向制造商资金约束的绿色供应链融资策略研究［J］. 运筹与管理, 2019, 28(8): 126-133.Yang Haoxiong, Duan Weiyu.Research on financing mode for capital constrained manufacturer in green supply chain［J］. Journal of Operations Research and Management, 2019, 28(8): 126-133.
［22］ Lei Fang, Xu Song. Financing equilibrium in a green supply chain with capital constraint［J］. Computers & Industrial Engineering, 2020, 143:106390.
［23］陈林,周宗放.商业银行集团客户统一授信额度的优化配置研究［J］.中国管理科学,2015,23(2):39-43.Chen Lin, Zhou Zongfang. Research on optimized allocating the unified credit line of group customer of commercial bank［J］. Chinese Journal of Management Science,2015,23(2):39-43.
［24］广东省生态环境厅. 广东省2019年度碳排放配额分配实施方案［EB/OL］.(2019-11-1)［2020-6-17］. http://gdee.gd.gov.cn/shbtwj/content/post_2675260.html.Guangdong Provincial Department of Ecology and Environment. Implementation plan for the allocation of carbon emission allowances in Guangdong province in 2019［EB/OL］. (2019-11-1)［2020-6-17］. http://gdee.gd.gov.cn/shbtwj/content/post_2675260.html.
［25］夏晖,王思逸,蔡强.多目标碳配额分配下的减排技术投资策略研究［J］.系统工程理论与实践,2019,39(8):2019-2026.Xia Hui, Wang Siyi, Cai Qiang. Study on the investment strategies of emission reduction technology under the multi-target carbon quota allocation［J］. SystemsEngineering-Theory & Practice,2019,39(8):2019-2026.
［26］ Milevsky M A, Posner S E. A closed-form approximation for valuing basket options［J］. The Journal of Derivatives, 1998, 5(4):54-61.
［27］庞素琳, 王立. 信用贷款风险中反向CDS协议设计与定价模型［J］. 管理科学学报, 2016, 19(6): 114-124.Pang Sulin, Wang Li. Design and pricing model of the reverse CDS in credit loan risk［J］. Journal of Management Sciences in China, 2016, 19(6): 114-124.
［28］ Huang Fuyou, He Juan, Lei Qian. Coordination in a retailer-dominated supply chain with a risk-averse manufacturer under marketing dependency［J］. International Transactions in Operational Research, 2018, 27(6): 3056-3078.
［29］ Ge Jiwen, Honhon D, Fransoo J C, et al. Manufacturer competition in the nanostoreretail channel［J］. European Journal of Operational Research, 2020, 286(1): 360-374.
［30］中国碳交易网. 深圳碳市吸引境外交易资金2.4亿元［EB/OL］.(2020-05-28)［2020-08-24］.http://www.tanpaifang.com/tanjiaoyi/2020/0528/71096.html.China Carbon Trading Network. Shenzhen carbon market attracts 240 million yuan of overseas transaction funds［EB/OL］.(2020-05-28)［2020-08-24］. http://www.tanpaifang.com/tanjiaoyi/2020/0528/71096.html.
［31］中国碳交易网. 企业超额碳排放量将受到市场价三倍处罚［EB/OL］.(2015-01-07) ［2020-08-24］.http://www.tanjiaoyi.com/article-62671.html.China Carbon Trading Network. Companies’ excess carbon emissions will be punished by three times the market price［EB/OL］.(2015-01-07)［2020-08-24］. http://www.tanjiaoyi.com/article-6267-1.html.
［32］中华人民共和国商务部. 中小供应商融资担保机构风险管理暂行办法［EB/OL］.(2001-03-26)［2020-6-23］. http://www.mofcom.gov.cn/article/b/bf/200207/20020700031370.shtml.Ministry of Commerce of the People's Republic of China. Interim measures for risk management of financing guarantee institutions for small and medium-sized suppliers［EB/OL］.(2001-03-26)［2020-6-23］. http://www.mofcom.gov.cn/article/b/bf/200207/20020700031370.shtml.
［33］ Krink T, Paterlini S, Resti A. The optimal structure of PD buckets［J］. Journal of Banking &Finance, 2008, 32(10): 2275-2286.
［34］陈林,周宗放,顾婧.基于复合期权、篮子期权及股权关系的企业集团母公司信用风险度量研究［J］.中国管理科学,2011,19(5):167-172.Chen Lin, Zhou Zongfang, Gu Jing. Evaluation credit risk of an enterprise group’s parent company in view of compound option basket option and ownerships［J］. Chinese Journal of Management Science, 2011,19(5):167-172.
［35］郭健,谢萌萌,欧阳伊玲,等.低碳经济下碳捕集与封存项目投资激励机制研究［J］.软科学,2018,32(2):55-59.Guo Jian, Xie Mengmeng, Ouyang Yiling, et al. Study on the investment incentive mechanism of carboncapture and storage project in low carbon economy［J］. Soft Science,2018,32(2):55-59.

基于中小供应商低碳融资需求的核心企业统一授信额度配置研究

Research on Optimized Allocating the Unified Credit Line of Focal Firm for Low-carbon Financing of Small and Medium-sized Suppliers

PDF (PC)

可视化

摘要/Abstract

引用本文

使用本文

参考文献

相关文章 1

Metrics

本文评价

推荐阅读 0