延迟支付方式下零售商对变质性商品的最优订购策略

在零销商给予顾客部分货款延期支付方式下的库存模型基础上,考虑商品的变质性对库存系统的影响,建立了延期支付方式下变质性商品的库存模型。通过对模型特征分析,给出不同情形下零售商的最优订货策略。     

变质物品考虑资金时值和滞后支付时的库存研究

研究了变质物品在考虑资金时间价值并且采购费允许滞后支付时的最优经济订货批量问题。建立了变质物品在需求率为库存水平的线性函数,计划时域内允许缺货且短缺量完全拖后,并且考虑资金的时间价值和采购费允许滞后支付时的最优库存决策模型。给出了模型最优解存在的必要条件和求解算法,通过一个算例说明了模型的求解过程。     

支付改革促公立医院转型

医保支付制度改革要求医院建立相应的自我控费、质量保证和运行效率提高机制。支付方式是指购买方将费用支付给提供方的方式。从医保购买服务的角度来说,医保支付方式改革是一种价格的改革,涉及4个价格要素:计价单位、付费标准、质量标准和支付先后时间。而相关改革的实质是改变4个价格要素,即计价单位从按项目付费为主,转变为按结果付费;付费标准从国家的医疗服务定价,转变为依据医疗机构的服务成本和历史数据;质量标     

商洛市商州区政府性补助资金实现国库直接支付

近日,陕西省商洛市商州区财政国库部门依托人行小额支付批量清算系统,首次成功支付2010年度成品油价格改革财政补贴资金,标志着商州区率先在商洛市实现了政府性补助资金国库直接支付。此举有效规避了过去政府补助资金发放中中转环节多、资金有可能被占压、挪用的潜在风险,商州107名农村客运经营者和4家林业企业喜获补贴343.84万元。为确保补贴资金直接支付受益者,区财政、林业、运管等部门与人行商洛市中心支行通力配合、精心协作,率先在该市通过央行小额支付系统直接支付成品油价格补贴资金,实现了从财政国库到补贴受益者账户的＂点对点＂直拨。     

一类价格折扣下存货影响销售率的短生命周期产品库存模型

在供应商给零售商提供价格折扣及存货影响销售率的条件下,讨论了允许缺货且部分拖后,理论需求符合产品生命周期且跟价格相关,变质率为常数的短生命周期易变质物品库存问题,建立了优化缺货时间和销售价格的库存模型,目的是极大化总利润,分析了模型最优解存在的条件,给出了具体求解步骤和数值实验.     

易变质品定价策略选择

变质物品销售策略是企业关注的重点,价格折扣是销售策略的主要方式之一,现阶段,对价格折扣的研究多是从供应商的角度出发,通过影响商品成本来对价格折扣进行研究,研究的内容也多为降价研究。文章不同于现有的多数研究,从零售商的角度出发,通过决策商品价格达到价格折扣,研究的内容为易变质品涨价模型。     

城市发展与住房意愿支付价格

以城市在岗职工的平均劳动收入水平和反映城市生活质量的各类宜居性指标建立了中国35个主要城市的城市发展与住房需求关系的模型,并以此估计了城市住房意愿支付价格。实证结果表明,城市在岗职工的平均劳动收入水平和以各类宜居性指标反映的城市生活质量可以解释70%左右住房价格的城市间差异。虽然城市劳动收入对住房意愿支付价格的影响仍然很大,但随着社会经济的发展,中国主要城市的生活质量对住房意愿支付价格增长的贡献有逐步增大的趋势。     

基于延迟支付期限的供应链回购契约研究

考虑由单一制造商和资金约束零售商组成的单级供应链系统，研究了供应链有无延迟支付期限策略条件下零售商的订货数量问题。研究结论表明，无延迟支付期限策略时，零售商的订货数量和供应链的系统利润都与制造商回购价格负相关；有延迟支付期限策略时，零售商的订货数量与制造商回购价格正相关，而供应链系统的利润与制造商回购价格负相关。最后，通过仿真算例验证了结论的适用性，为供应链管理实践提供参考。     

浅析国际商贸合同中的价格及支付条款

一、国际商贸合同中的价格条款 (一)价格制定的原则 1、要参照国际市场价格,国际市场价格是在国际市场上某种商品的供求状况及其竞争状况基础上形成的.容易被买卖双方所接受的价格.2、要贯彻国际市场经营战略,每一笔具体的进口或出口贸易应贯彻既定的经营战略.3、要考虑商品的质量,质量好,定价可高,质量差,可定低价.4、要和商品的成交数量相联系.5、要考虑支付条件,对于出口方来讲,如果确定的支付方式对自己不利,那么价格可制定的高些.价格还应与支付货币相结合,6、要依据不同的贸易术语,在常用的六种贸易术语中,CIF,CIP的价格最高,CFR,CPT为次,FOB,FCA最低.     

基于FMOLS模型的住房支付能力区域稳定性研究——基于对关中城市群面板数据的实证分析

对关中城市群①住宅价格与居民收入及多个基本面因素的面板数据的实证分析得知：住宅价格和居民收入存在协整和单边因果关系,住宅价格很容易受居民收入变动影响,住房支付能力稳定性存在区域差异。此外,公共设施、交通运输、教育和文化体育娱乐等因素也会显著影响支付能力的区域稳定性。基于以上诸种因素,建议地方政府在解决相关问题时,采取有...     

外商直接投资与货币政策对中国出口的影响

利用2005年1月至2010年12月的数据,比较货币政策与资本流入两种因素对中国出口贸易的影响。实证结果表明,中国出口额与利率、汇率、信贷量、FDI存在长期协整关系,信贷量每增加1%,出口额增加0.84%。但FDI对出口贸易的长短期影响不一致。而且经检验发现,利率变动和汇率变动并不是出口变动的Granger原因。所以,中国应完善基础设施建设,缩短FDI发挥创造效应的时间,并综合利用信贷政策、利率政策、汇率政策等多种政策来调整贸易收支。     

Optimizing order policy and credit term for items with inventory-level-dependent demand under trade credit limit

Under the combined effects of inventory-level-dependent demand (ILDD) and trade credit, the retailer is able to order more quantities to stimulate market demand. However, from the supplier's perspective, two important issues are lacking sufficient attention. First, during the credit period, the retailer's higher order quantities imply increases in both the retailer's account payable and the supplier's opportunity cost of capital. Second, given the supplier's fixed production rate, the increased market demand may drive the capacity utilization to be variable. Thus, by formulating a supplier-dominated system, this paper incorporates trade credit limit (TCL) to address its effects on optimal policies vis-à-vis the item with ILDD. Specifically, three indicators can be proposed to reveal which type of financing policy the retailer should choose. Moreover, based on TCL, the supplier can effectively manage the retailer's order quantity and the corresponding account payable. Additionally, the retailer's maximum allowable order quantity is developed to ensure that the supplier can supply the retailer's order quantity on time. Furthermore, when the effects of ILDD become more significant, the manufacturer will reduce the maximum allowable order quantity to control the retailer's order incentive.     

Monitoring costs and trade credit

This paper addresses the question of why nonfinancial firms engage in lending to their business partners. Such lending or trade credit is modeled as a second layer of financial intermediation. It is shown that when it is costly for a bank to inspect the borrower’s revenue but not for the borrower’s business partner, then saving in monitoring costs due to the business partner’s informational advantage may lead to trade credit. The trade off is between monitoring fewer firms and monitoring larger firms that may entail an adverse scale effect. The results are consistent with the existing empirical evidence on bankruptcy costs and on the incidence of trade credit. Welfare analysis in terms of total surplus shows that the equilibrium lending arrangement is not necessarily optimal.     

Trade Credit and Monetary Policy Transmission

Abstract.  Recently, an increasing number of papers have investigated the role of trade credit as an external source of finance when analyzing the monetary transmission mechanism. These works support the balance sheet-channel view and at the same time explain the difficulties encountered when looking for evidence in favor of the bank-lending channel. This paper presents a survey of the emerging literature on the role of trade credit in the transmission of monetary policy, trying to link it with the well-established credit-channel literature.     

我国融资融券制度探析

融资融券是西方成熟证券市场的基本功能之一,早已为广大西方投资者所熟悉和运用。但在我国,融资融券还处于政策研究和准备阶段。本文主要阐述了融资融券的定义、起源及发展、交易模式、管理机制及对我国证券市场的影响几个方面的内容。     

参数不稳定下利差在宏观经济与货币政策中的应用

本文在参数不稳定的情况下考察利差对通货膨胀、经济增长的信息作用,并分析包含利差的混合货币政策规则。基于贝叶斯区制转移模型（MSBVAR）的分析发现：期限利差和信用利差对通货膨胀、经济增长有影响,宏观经济波动使得利差的信息作用存在参数不稳定性,在经济下行时对经济增长有负向信号作用。信用利差对通胀的预测作用比期限利差对通胀的预测作用更强。期限利差和信用利差都在货币政策规则中有参数不稳定性的信息作用。     

Credit risk and asymmetric information: A simplified approach

We present a simple model for risky, corporate debt. Debtholders and equityholders have incomplete information about the financial state of the debt issuing company. Information is incomplete because it is delayed for all agents, and it is asymmetrically distributed between debtholders and equityholders. We solve for the equityholders' optimal default policy and for the credit spreads required by debtholders. Delayed information accelerates the equityholders' optimal decision to default. Interestingly, this effect is small, implying only a small impact on credit spreads. Asymmetric information, however, has a major impact on credit spreads. Our model predicts high credit spreads for short-term debt, as observed empirically in credit markets.     

Trade credit versus bank credit: Evidence from corporate inventory financing

In this study, I introduce capital market imperfections into a structure framework of inventory investments and investigate impacts of trade credit on firms’ inventory dynamics and analyze the relationship between trade credit and bank loans. As a result, firms end up using a mix of trade credit and bank loans. I find that the use of trade credit and bank credit can be either complements or substitutes. During tight monetary periods, trade credit operates mainly as a substitute for bank borrowing while during looser monetary episodes even when the economy is weak, trade credit and bank loans are dominated by a complementary effect.     

On exchange rates and economic growth

Extending Ireland's (1994) model, this paper analyzes an international economy where cash or credit can be used for payment. Foreign trade credit is more costly than its domestic analog. A depreciation of the real exchange rate is associated with an external surplus and a reduced share of imports purchased with credit. Economic growth slows when foreign trade credit becomes the predominant means of payment for international transactions. A country with high inflation exports its Tobin effect and thus temporarily increases world growth.     

碳交易政策下供应链协调决策机制研究

供应链系统中成员企业存在竞争关系,在减排活动中容易相互推卸责任,使供应链系统不能良性发展,因此协调各方利益做到互利双赢十分重要。深入探究了单周期两级供应链的订购与减排决策模型,针对碳交易政策,并结合政府减排技术补贴政策,重点研究了收益共享契约对最优订购量、最优碳减排率以及最大收益的影响。