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论文编号：	12379
作者编号：	2120192801
上传时间：	2021/6/10 9:04:41
中文题目：	电商金融背景下绿色供应链的运营及融资决策研究
英文题目：	Research on Operational and Financing Decision of Green Supply Chain Under the Background of E-Commerce Finance
指导老师：	方磊
中文关键字：	绿色努力；电商金融；应收账款融资；融资策略
英文关键字：	Green effort；E-Commerce finance；Accounts receivable financing；Financing strategy
中文摘要：	当前，政府积极推动绿色制造，人们的绿色消费意识也愈加提升，开展绿色创新已经成为企业重要的经营决策之一。但无论是产品制造还是绿色努力，都需要资金的支持。面对企业特别是中小企业普遍存在的资金短缺问题，融资活动既有助于持续经营，又能促进企业加大绿色创新投入。在融资渠道上，除传统的银行金融机构外，电商金融的兴起为企业带来了更加方便快捷的融资途径。在融资方式上，对上游企业来说，除了较为常见的信贷融资，以应收账款为质押的应收账款融资可以有效缓解企业的资金压力，丰富了企业的融资方式。 在对绿色供应链和供应链金融领域相关文献进行梳理总结的基础上，结合企业发展实际情况，本文研究了不同融资情境下绿色供应链的运营和融资决策问题。本文在无资金约束、银行信贷融资、电商信贷融资、银行应收账款融资和电商应收账款融资五种情境下，建立了大型电子零售商为领导者、资金约束供应商为跟随者的斯坦科尔伯格博弈模型，其中供应商可以进行绿色努力。 本文的创新主要有三点：一是结合研究了绿色努力和企业融资模式；二是拓宽了企业的融资渠道，在研究银行融资的同时引入了电商金融；三是丰富了企业的融资方式，在考虑信贷融资的同时引入了应收账款融资。本文主要得到以下结论：（1）应收账款质押率的增大不一定能够激励供应商进行绿色努力。（2）不论在何种融资方式下，供应商通常应该选择向电子零售商融资。并且，只有当电商贷款利率略大于银行贷款利率时，电商融资更有利于供应商进行绿色投入。（3）向银行融资时，一般情况下，若绿色投资成本系数较小，供应商应该采取应收账款融资，否则应采取信贷融资。此外，应收账款融资方式下，供应商的绿色投入水平总是更优的。（4）向电子零售商融资时，一般来说，供应商应该选择应收账款融资，双方都会获得更大的利润，同时也可以促进供应商进行绿色投入。
英文摘要：	Currently, with the positive promotion of green manufacturing and the increasing awareness of green consumption, green innovation has become one of the important operation decisions of enterprises. However, both production and green efforts need financial support. In the face of the shortage of funds in enterprises, especially in small and medium-sized enterprises, financing activities can not only contribute to sustainable operation, but also promote enterprises to increase investment in green innovation. In terms of financing channels, except for traditional banking financial institutions, the rise of e-commerce finance has brought a more convenient and efficient way of financing for enterprises. In terms of financing modes, for upstream enterprises, in addition to credit financing, accounts receivable financing with accounts receivable as pledge can effectively alleviate the financial pressure of enterprises, which enriches the financing modes of enterprises. Based on the literature review of green supply chain and supply chain finance, this thesis studies the operation and financing decision-making of green supply chain under different financing situations in connection with the reality of enterprise development. In the five situations of no capital constraint, bank credit financing, e-commerce credit financing, bank accounts receivable financing and e-commerce accounts receivable financing, this thesis establishes a Stackelberg game model in which the large-scale e-retailer is the leader and the capital-constraint supplier is the follower, in which the supplier can make green efforts. There are three main points of innovation in this thesis: one is the combination of financing with green efforts; another is the introduction of e-commerce finance which broadens the financing channels; the third is the introduction of accounts receivable financing which enriches the financing modes. The main research results are listed as follows. (1) Increasing the pledge rate of accounts receivable does not necessarily promote supplier to make more green efforts. (2) No matter which kind of financing mode, the supplier should usually obtain finance from the e-retailer. Moreover, only when the loan interest rate in e-commerce financing is slightly higher than it in bank financing, e-commerce financing can promote more green efforts. (3) Under bank financing, in general, if the cost coefficient of the greenness level is small, the supplier should adopt accounts receivable financing. Otherwise, credit financing should be adopted. In addition, the greenness level is always higher under accounts receivable financing. (4) Under e-commerce financing, generally speaking, the supplier should adopt accounts receivable financing. At this time, both parties can get greater profits, and it can also promote supplier to make more green efforts.
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