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作者：Orsdemir, Adem; Hu, Bin; Deshpande, Vinayak
作者单位：University of California System; University of California Riverside; University of Texas System; University of Texas Dallas; University of North Carolina; University of North Carolina Chapel Hill
摘要：Firms have recently vertically integrated with suppliers to ensure corporate social and environmental responsibility (CSER) in sourcing. We investigate the conditions under which CSER concerns will drive vertical integration, and how actions of nongovernmental organizations (NGOs) impact CSER. This paper is inspired by Taylor Guitars's acquisition of an ebony mill in Cameroon to ensure CSER. Whereas the majority of the responsible sourcing literature focuses on auditing as a mechanism for addr...
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作者：Zhao, Xuying; Lim, Arthur; Guo, Hong; Ding, Chao; Song, Jing-Sheng
作者单位：University of Notre Dame; University of Hong Kong; Duke University
摘要：We develop a game-theoretic model to explore why retail clusters are so popular in developing economies and when governments should facilitate the formation of retail clusters to improve social welfare. First, we find two determinants of retailer clusters: the valuation-cost ratio (consumers' maximum valuation over retailers' production cost) and retailer density (the number of retailers over unit transportation cost). The valuation-cost ratio and retailer density indicate retailers' profit po...
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作者：Lee, Hau L.
作者单位：Stanford University
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作者：Chen, Xiangfeng; Cai, Gangshu (George); Song, Jing-Sheng
作者单位：Fudan University; Santa Clara University; Duke University
摘要：With an increasingly open global economy and advanced technologies, some third-party logistics providers (3PLs), such as Eternal Asia, have emerged as supply chain orchestrators, linking buyers with manufacturers worldwide. In addition to their traditional transportation services, these orchestrators provide procurement and financial assistance to buyers in the supply network, especially small- and medium-sized enterprises (SMEs) in developing countries. Oftentimes, the 3PLs can obtain payment...
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作者：Kouvelis, Panos; Zhao, Wenhui
作者单位：Washington University (WUSTL); Shanghai Jiao Tong University
摘要：Problem description: We study the impact of credit ratings on operational and financial decisions of a supply chain with a supplier and a retailer interacting via an early payment discount contract. The retailer has a single opportunity to order a product from the supplier to satisfy future uncertain demand. Both the retailer and supplier are capital constrained, and the retailer can use both short-term bank loans and trade credits for his financing needs, while the supplier can use short-term...
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作者：Lee, Hsiao-Hui; Zhou, Jianer; Wang, Jingqi
作者单位：University of Hong Kong
摘要：Using a dyadic panel data set that links U.S. suppliers with their major buyers, we study how trade credit responds to various types of competition in supply chains, as well as the impact of trade credit on firm performance. We find that suppliers with smaller market share are associated with more trade credit, confirming that suppliers with weak market power use trade credit as a competitive tool. Next, we find that buyers with larger market share are associated with more trade credit, wherea...
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作者：Deng, Shiming; Gu, Chaocheng; Cai, Gangshu (George); Li, Yanhai
作者单位：Huazhong University of Science & Technology; Jinan University; Santa Clara University
摘要：Buyer finance has been practiced by manufacturers/assemblers for years; however, few papers have investigated the efficacy of buyer finance in an assembly system with multiple suppliers. This paper fills the literature gap by comparing buyer finance with bank finance in a supply chain with one assembler and multiple heterogeneous capital-constrained component suppliers. We characterize the equilibrium solutions for different financing schemes (i.e., buyer finance, bank finance, and no finance)...
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作者：Tang, Christopher S.; Yang, S. Alex; Wu, Jing
作者单位：University of California System; University of California Los Angeles; University of London; London Business School; City University of Hong Kong
摘要：Two innovative financing schemes have emerged in recent years to enable suppliers to obtain financing for production. The first, purchase order financing (POF), allows financial institutions to offer loans to suppliers by considering the value of purchase orders issued by reputable buyers. Under the second, which we call buyer direct financing (BDF), manufacturers issue both sourcing contracts and loans directly to suppliers. Both schemes are closely related to the supplier's performance risk ...
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作者：de Vericourt, Francis; Gromb, Denis
作者单位：European School of Management & Technology; Hautes Etudes Commerciales (HEC) Paris
摘要：We study the capacity choice problem of a firm whose access to capital is hampered by financial frictions (i.e., moral hazard). The firm optimizes both its capacity investment under demand uncertainty and its sourcing of funds from a competitive investor. Ours is the first study of this problem to adopt an optimal contracting approach: feasible sources of funds are derived endogenously from fundamentals and include standard financial claims (debt, equity, convertible debt, etc.). Thus, in cont...
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作者：Ning, Jie; Babich, Volodymyr
作者单位：University System of Ohio; Case Western Reserve University; Georgetown University
摘要：In an industry with knowledge spillover and debt financing, equilibrium investments in research and development (R&D) projects are subject to three economic forces. First, knowledge spillover among firms enables free dissemination of new technologies and produces investment synergies. Second, knowledge spillover also causes free riding: in equilibrium, firms underinvest in R&D expecting to benefit from investments by others. Third, debt financing creates incentive for risk shifting: equity hol...
