東華大學圖書館 |

語系: 繁體中文

說明(常見問題)

回圖書館首頁

手機版館藏查詢

登入

回首頁

切換: 標籤 | MARC模式 | ISBD

Trade credit in supply chains: Theor...

Yang, Song.

FindBook

Google Book

Amazon

博客來

Trade credit in supply chains: Theory and empirical evidence.

紀錄類型:	書目-語言資料,印刷品 : Monograph/item
正題名/作者:	Trade credit in supply chains: Theory and empirical evidence./
作者:	Yang, Song.
面頁冊數:	152 p.
附註:	Source: Dissertation Abstracts International, Volume: 71-07, Section: A, page: 2548.
Contained By:	Dissertation Abstracts International71-07A.
標題:	Business Administration, Management. -
電子資源:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3408612
ISBN:	9781124049526

Trade credit in supply chains: Theory and empirical evidence.
Yang, Song.

Trade credit in supply chains: Theory and empirical evidence. - 152 p.

Source: Dissertation Abstracts International, Volume: 71-07, Section: A, page: 2548.

Thesis (Ph.D.)--The University of Chicago, 2010.

As an integrated part of a supply contract, trade credit has intrinsic connections with supply chain contracting and inventory management. Using a series of stylized models that explicitly capture the interaction of firms' operational decisions and financial risks, this thesis attempts to develop a deeper understanding of trade credit from an operational perspective.

ISBN: 9781124049526Subjects--Topical Terms:

626628
Business Administration, Management.

Trade credit in supply chains: Theory and empirical evidence.
LDR:04064nam 2200385 4500 001 1395070
005 20110506125600.5
008 130515s2010 ||||||||||||||||| ||eng d
020 $a 9781124049526
035 $a (UMI)AAI3408612
035 $a AAI3408612
040 $a UMI $c UMI
100 1 $a Yang, Song. $3 1029309
245 1 0 $a Trade credit in supply chains: Theory and empirical evidence.
300 $a 152 p.
500 $a Source: Dissertation Abstracts International, Volume: 71-07, Section: A, page: 2548.
500 $a Adviser: John R. Birge.
502 $a Thesis (Ph.D.)--The University of Chicago, 2010.
520 $a As an integrated part of a supply contract, trade credit has intrinsic connections with supply chain contracting and inventory management. Using a series of stylized models that explicitly capture the interaction of firms' operational decisions and financial risks, this thesis attempts to develop a deeper understanding of trade credit from an operational perspective.
520 $a We first lay out a framework that incorporates capital constraints and costs of financial distress into the classical supply chain model and show that these frictions further reduce the chain efficiency under the price-only contract. Further, this model shows that a decentralized supply chain with appropriate contract forms can outperform the centralized chain.
520 $a Revolving around the question of what role trade credit plays in channel coordination and inventory financing,1 our model demonstrates that with demand uncertainty, trade credit enhances supply chain efficiency by serving as a risk-sharing mechanism. The optimal trade credit terms balance the operational profit and costs of financial distress. Facing a trade credit contract, the retailer finances his inventory using a portfolio of cash, trade credit, and short-term debt. The structure of this inventory financing portfolio depends on the retailer's financing need and bargaining power. Additionally, our model suggests that financial diversification, that is, employing multiple financing sources, provides an alternative explanation for the decentralization of some supply chains and the use of factoring in accounts receivable management. Using a sample of firm-level data from COMPUSTAT, we document the usage of trade credit in the retail sector, and confirm that the inventory financing pattern responds to firms' financing need.
520 $a Finally, we study how different priority rules influence trade credit terms and supply chain efficiency when multiple creditors are present. We find that with only demand risk, when the wholesale price is exogenous, trade credit with high priority can lead to high chain efficiency, yet trade credit with low priority allows more retailers to obtain trade credit and suppliers to gain higher profits. When the supplier has control of wholesale price, however, we show that the supplier should extend unlimited trade credit with net terms. We also study the case when demand risk mingles with other risks, especially those with longer terms in nature. Under this setting, we show several scenarios when the optimal trade credit policy should change according to different risks, and that in general, trade credit with low priority results in high chain efficiency. Finally, we discuss the optimal priority when other trade credit theories are relevant.
520 $a 1The term "inventory financing" throughout this thesis applies to firms' decisions on how to finance inventory instead of how to use inventory as collateral to gain more loans.
590 $a School code: 0330.
650 4 $a Business Administration, Management. $3 626628
650 4 $a Economics, Finance. $3 626650
650 4 $a Operations Research. $3 626629
690 $a 0454
690 $a 0508
690 $a 0796
710 2 $a The University of Chicago. $b Business. $3 1671506
773 0 $t Dissertation Abstracts International $g 71-07A.
790 1 0 $a Birge, John R., $e advisor
790 1 0 $a Adelman, Dan $e committee member
790 1 0 $a Debo, Laurens G. $e committee member
790 1 0 $a Diamond, Douglas W. $e committee member
790 1 0 $a Parker, Rodney P. $e committee member
790 $a 0330
791 $a Ph.D.
792 $a 2010
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=3408612