華師經英seminar第35期
【時間】12月30日（周四）下午1:00-2:00
【地點】文三棟MBA中心405會議室
【題目】The supply chain effects of trade credit under uncertain demands
【主講人】鄧思婧博士
【主持人】向地靈博士
【主講人簡介】鄧思婧，新葡的京集團350vip8888經濟與管理學院講師。主要從事運營管理，供應鏈管理等相關研究，研究成果發表在Omega，IJPR等國際知名期刊。主持有國家自然科學基金青年項目，教育部人文社會科學青年基金項目。
【摘要】Trade credit is an important form of short-term financing for capital-constrained small firms. In this paper, we build a supply chain model consisting of one supplier and two competing retailers to investigate the impacts of trade credit on both vertical and horizontal supply chain interactions. The supplier is a large-scale manufacturer with a strong financial status that can offer trade credit to the two downstream retailers who may be financially constrained. The two retailers are engaged in Cournot competition with uncertain market demands. The demand risks may expose a financially distressed retailer to bankruptcy risk, which may be transmitted vertically through trade credit to the upstream supplier. Horizontally, the trade credit and the ensuing bankruptcy risk of one retailer will also affect the other retailer's competition behavior and profit. We find that trade credit has two opposite effects on downstream retailers' selling quantity decisions: it may either aggravate or soften two retailers' competition. Interestingly, when two retailers have unbalanced financial statuses, the supplier may bail-out the financially distressed retailer, and the predation between two retailers exhibits a bidirectional pattern. Moreover, we show that a retailer always benefits from a better financial status. Improvement of the competitor's financial status, however, may be either beneficial or harmful to the retailer, depending on the demand uncertainty and competition intensity. The supplier's preference for the retailers' financial statuses may also be influenced by the demand uncertainty and competition intensity.