Trade credit contract with limited liability in the supply chain with budget constraints |
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Authors: | Xiangfeng Chen Anyu Wang |
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Affiliation: | 1. School of Management, Fudan University, Shanghai, 200433, China
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Abstract: | The paper investigates the impacts of trade credit (i.e., open account payment) and limited liability on the performance of a two-level supply chain with budget constraints. It shows that limited liability accounts for the reason why the retailer with a lower initial budget initiates a higher ordering level under trade credit contract. Furthermore, this paper finds that trade credit contract could create value in a supply chain with budget constraints, and partly coordinate the supply chain. |
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