PDF(Pubmed)
Abstract：
In the context of sustainable development, market competition is intensifying, and financial constraints have emerged as a significant hindrance to green project investment. Green Supply Chain Finance (GSCF), characterized by long-term collaboration, has emerged as a crucial financial approach to mitigate corporate financial limitations and channel capital flows into environmentally friendly industries. We propose a two-echelon supply chain with one supplier and two competing retailers over a single period and investigate ordering, sales, and financing decisions simultaneously under competition. Retailers constrained by financial considerations may secure GSCF or traditional bank financing (BF) loans. This study investigates the influence of competition on pricing and sales strategies during the selling season. The results demonstrate that retailers select between clearance and responsive selling strategies based on the level of market competition. During the ordering season, retailers share the product market equally when interest rates are uniform, and the supplier formulates a supply chain contract while considering the financing interest rate. In the presence of differential interest rates, retailers may not always opt for the GSCF, even when they offer an interest rate advantage, due to the comprehensive impacts of operational and financial strategies. Remarkably, competitive retailers do not choose the GSCF when their initial green investment capital surpasses a certain threshold.
摘要：
在可持续发展的背景下，市场竞争加剧,和财政限制已成为绿色项目投资的重大障碍。绿色供应链金融(GSCF)以长期合作为特征，已成为缓解公司财务限制并将资本流入环境友好型行业的关键财务方法。我们提出了一个两级供应链，一个供应商和两个竞争的零售商在一个时期，并调查订购，销售,在竞争下同时进行融资决策。受财务考虑约束的零售商可能会获得GSCF或传统银行融资（BF）贷款。本研究调查了销售季节竞争对定价和销售策略的影响。结果表明，零售商根据市场竞争水平在清除和响应销售策略之间进行选择。在订购季节，当利率统一时，零售商平等地分享产品市场，供应商在考虑融资利率的同时制定供应链契约。在存在差别利率的情况下，零售商可能并不总是选择GSCF，即使他们提供了利率优势，由于运营和财务战略的综合影响。值得注意的是,竞争性零售商在初始绿色投资资本超过一定阈值时不会选择GSCF。
