WDSI 2011 - Acceptance of Submission
abstract:
In this paper, by setting up a single period supply chain model with one supplier and
one retailer, we study the capital constrained retailer' procurement and financing problem,
and the supplier's decision problem when the supplier has different risk preference.
We first study the scenario when the supplier is risk neutral. At equilibrium, we find the supplier
induces the retailer to choose trade credit as the unique financing
scheme. Next we study the scenario when the supplier is risk averse.
We find when the supplier is risk averse very much, she induces the retailer to choose bank loan as the
unique financing solution; when the supplier's risk preference is
higher than some specific value, he prefers to bear the credit risk
and induces the retailer to choose trade credit as the unique
financing solution; Otherwise, in the numerical experiment, we find
the portfolio of bank loan and trade credit is the retailer's best response.
Keywords: risk-averse, CVaR(Conditional Value at Risk); trade credit, capital constrained; financing decision; supply chain management
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