Financing options for logistics firms considering product quality loss

IF 1.8 Q3 MANAGEMENT

Journal of Modelling in Management Pub Date : 2024-09-04 DOI:10.1108/jm2-12-2023-0296

Gongbing Bi, Yue Wu, Hang Xu

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引用次数: 0

Abstract

Purpose

This paper aims to investigate the impact of quality loss in transit on e-commerce supply chain pricing, production and financing decisions.

Design/methodology/approach

The authors consider a Stackelberg game model with a supplier, logistics firm and e-commerce platform. The logistics firm is capital-constrained and obtains funding from the e-commerce platform by debt financing or equity financing. Through backward induction, this paper first solves the equilibrium results under the two financing schemes and then reveals the financing preferences of all parties.

Findings

The results demonstrate that equity financing reduces financing costs and promotes production significantly. However, it may also lead to overproduction, particularly in markets with poor profitability and high cost factors. When the percentage of product quality loss is large, equity financing is preferable. With the increasing of transportation level, the benefits of debt finance are steadily growing. In addition, equity financing is the Pareto dominant scheme for all firms under certain circumstances. The extensions consider hybrid financing and another quality loss type.

Practical implications

The paper derives the equilibrium solutions and financing preferences, then specifies the threshold for applying financing schemes. Provide guidance for logistics firms’ finance model innovation and core enterprise involvement in the logistics industry.

Originality/value

The paper investigates how logistics firms’ financing strategies are impacted by product quality loss.

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考虑产品质量损失的物流企业融资方案

本文旨在研究运输过程中的质量损失对电子商务供应链定价、生产和融资决策的影响。作者考虑了一个由供应商、物流公司和电子商务平台组成的 Stackelberg 博弈模型。物流公司受到资本约束，通过债务融资或股权融资从电子商务平台获得资金。通过逆向归纳法，本文首先求解了两种融资方案下的均衡结果，然后揭示了各方的融资偏好。然而，股权融资也可能导致生产过剩，尤其是在盈利能力差、成本因素高的市场中。当产品质量损失比例较大时，股权融资更为可取。随着运输水平的提高，债务融资的效益也在稳步增长。此外，在某些情况下，股权融资是所有企业的帕累托主导方案。本文推导了均衡解和融资偏好，并明确了融资方案的应用门槛。为物流企业融资模式创新和核心企业参与物流行业提供指导。原创性/价值本文研究了物流企业的融资策略如何受到产品质量损失的影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Modelling in Management MANAGEMENT-

CiteScore

5.50

自引率

12.50%

发文量

期刊介绍： Journal of Modelling in Management (JM2) provides a forum for academics and researchers with a strong interest in business and management modelling. The journal analyses the conceptual antecedents and theoretical underpinnings leading to research modelling processes which derive useful consequences in terms of management science, business and management implementation and applications. JM2 is focused on the utilization of management data, which is amenable to research modelling processes, and welcomes academic papers that not only encompass the whole research process (from conceptualization to managerial implications) but also make explicit the individual links between ''antecedents and modelling'' (how to tackle certain problems) and ''modelling and consequences'' (how to apply the models and draw appropriate conclusions). The journal is particularly interested in innovative methodological and statistical modelling processes and those models that result in clear and justified managerial decisions. JM2 specifically promotes and supports research writing, that engages in an academically rigorous manner, in areas related to research modelling such as: A priori theorizing conceptual models, Artificial intelligence, machine learning, Association rule mining, clustering, feature selection, Business analytics: Descriptive, Predictive, and Prescriptive Analytics, Causal analytics: structural equation modeling, partial least squares modeling, Computable general equilibrium models, Computer-based models, Data mining, data analytics with big data, Decision support systems and business intelligence, Econometric models, Fuzzy logic modeling, Generalized linear models, Multi-attribute decision-making models, Non-linear models, Optimization, Simulation models, Statistical decision models, Statistical inference making and probabilistic modeling, Text mining, web mining, and visual analytics, Uncertainty-based reasoning models.