| 贸易信用交易下的保险投资策略研究 |
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| 引用本文： | 刘露,邓伟升,董兴林,李雅婷.贸易信用交易下的保险投资策略研究[J].运筹与管理,2020,29(7):172-179. |
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| 作者姓名： | 刘露 邓伟升 董兴林 李雅婷 |
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| 作者单位： | 1.山东科技大学 经济管理学院,山东 青岛 266590;2.云南大学 工商管理与旅游管理学院,云南 昆明 650091;3.南开大学 商学院,天津 300071 |
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| 基金项目： | 国家自然科学基金资助项目 (71902105,71702082) ;教育部人文社会科学规划基金资助项目(17YJAZH018);教育部人文社会科学基金资助项目(17YJC630161);山东科技大学“菁英人才”项目(0104060540701) |
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| 摘 要： | 贸易信用融资被广泛应用于解决中小企业融资困境,而保险正成为解决贸易信用融资风险的重要手段。本文站在核心企业角度,探究贸易信用融资保险的运营策略,运用Stackelberg博弈分析方法分别建立并比较了贸易信用融资、贸易信用融资保险、资金约束无融资、资金充足四类优化模型,探究了博弈均衡下的最优运营决策,并分析了零售商初始资金、生产商风险态度等关键参数的影响。研究表明:融资不仅对供应链有利,还能同时实现生产商及零售商共赢;当生产商风险厌恶程度、保险市场竞争程度较高,零售商初始资金较低时,融资保险能够为生产商及供应链创造价值,否则生产商应当放弃投保。研究结论为工业界合理且高效开展贸易信用融资保险运营提供了策略指导和管理启示。
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| 关 键 词： | 资金约束 贸易信用 商业保险 投资策略 供应链金融 |
| 收稿时间： | 2018-11-25 |
Research on Insurance Investment Strategy under Trade Credit Transaction |
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| LIU Lu,DENG Wei-sheng,DONG Xing-lin,LI Ya-ting.Research on Insurance Investment Strategy under Trade Credit Transaction[J].Operations Research and Management Science,2020,29(7):172-179. |
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| Authors: | LIU Lu DENG Wei-sheng DONG Xing-lin LI Ya-ting |
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| Affiliation: | 1. College of Economics and Management, Shandong University of Science and Technology, Qingdao 266590, China;2. School of Business and Tourism Management, Yunnan University, Kunming, 650091, China;3. Business School, Nankai University, Tianjin 300071, China |
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| Abstract: | Trade credit finance has been widely used to solve the financing difficulties of small and medium-sized enterprises. Insurance is becoming an important means to solve the risk of the financing. This paper explores the optimizing operation strategy of trade credit finance based on the core enterprise's perspective. We use Stackelberg game method to build and compare four kinds of optimization models—trade credit finance, trade credit finance insurance, capital-constraint and none-financing, capital adequate. We explore the optimal equilibrium operation decisions and analyze the impacts of key parameters such as the retailer's initial capital amount and the manufacturer's risk attitude. The results show that trade credit finance is beneficial to not only the supply chain, but also bringing win-win between the manufacturer and the retailer. When the manufacturer's risk aversion degree and the competitive degree of insurance market are high, and the retailer's initial capital amount is low, trade credit finance insurance can create value for the manufacturer and the supply chain. Otherwise, the manufacturer should give up to invest the insurance. This research gives strategy guidance and managerial insights for the industry to operate the trade credit finance insurance more reasonably and effectively. |
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| Keywords: | capital-constraint trade credit finance commercial insurance investment strategy supply chain finance |
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