A Credit Risk Contagion Intensity Model of Supply Chain Enterprises under Different Credit Modes

doi:10.3390/su142013518

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	A Credit Risk Contagion Intensity Model of Supply Chain Enterprises under Different Credit Modes
	Wang, Yuhao 1; Shen, Jiaxian 1; Pan, Jinnan 1; Chen, Tingqiang 1,2
	2022-10-01
发表期刊	SUSTAINABILITY
卷号	14 期号:20 页码:26
摘要	The rapid development of theoretical and practical innovations in corporate finance driven by supply chain finance has exacerbated the complexity of credit default risk contagion among supply chain enterprises. Financial risks in the supply chain greatly hinder its sustainable development; thus, strengthening financial risk management is necessary to ensure the sustainability of the supply chain. Based on the single-channel and dual-channel credit financing models of retailers in the supply chain, the purpose of this paper was to construct a model of the intensity of credit default risk contagion among supply chain enterprises under different credit financing models, and investigate the influencing factors of credit risk contagion among supply chain enterprises and its mechanism of action through a computational simulation system. The results were as follows: (1) there was a positive relationship between the production cost of suppliers and the contagion intensity of the supply chain credit default risk, and the contagion effect of the supply chain credit default risk increased significantly when both retailers defaulted on trade credit to suppliers; (2) the market retail price of the product was negatively related to the contagion intensity of the supply chain credit default risk, and the contagion intensity of the supply chain credit default risk increased significantly when both retailers defaulted on trade credit to the supplier; (3) the intensity of credit default risk contagion in the supply chain was positively correlated with both the commercial bank risk-free rate and the trade credit rate, and retailers' repayment priority on trade credit debt was negatively correlated with suppliers' wholesale prices and positively correlated with retailers' order volumes, with retailers' repayment priority positively affecting retailers' bank credit rates and negatively affecting suppliers' bank credit rates; and (4) retailers' repayment priority on trade credit debt was negatively correlated with the intensity of supply chain credit default risk contagion, and the lower the retailer's bank credit limit, the higher the trade credit limit, and the stronger the credit default contagion effect in the supply chain.
关键词	supply chain finance trade credit financing bank credit financing credit default contagion intensity
DOI	10.3390/su142013518
收录类别	SCI
语种	英语
资助项目	National Natural Science Foundation of China[71871115] ; Key project of Jiangsu Social Science Foundation[22WTA-019] ; Major Project of Philosophy and Social Science Research in Colleges and Universities in Jiangsu Province[2019SJZDA035] ; Young and Middle-aged Academic Leaders of Qinglan Project in Jiangsu Province
WOS研究方向	Science & Technology - Other Topics ; Environmental Sciences & Ecology
WOS类目	Green & Sustainable Science & Technology ; Environmental Sciences ; Environmental Studies
WOS记录号	WOS:000873512200001
出版者	MDPI
引用统计
文献类型	期刊论文
条目标识符	http://ir.amss.ac.cn/handle/2S8OKBNM/60796
专题	中国科学院数学与系统科学研究院
通讯作者	Chen, Tingqiang
作者单位	1.Nanjing Tech Univ, Sch Econ & Management, Nanjing 211816, Peoples R China 2.Chinese Acad Sci, Acad Math & Syst Sci, Beijing 100190, Peoples R China
推荐引用方式 GB/T 7714	Wang, Yuhao,Shen, Jiaxian,Pan, Jinnan,et al. A Credit Risk Contagion Intensity Model of Supply Chain Enterprises under Different Credit Modes[J]. SUSTAINABILITY,2022,14(20):26.
APA	Wang, Yuhao,Shen, Jiaxian,Pan, Jinnan,&Chen, Tingqiang.(2022).A Credit Risk Contagion Intensity Model of Supply Chain Enterprises under Different Credit Modes.SUSTAINABILITY,14(20),26.
MLA	Wang, Yuhao,et al."A Credit Risk Contagion Intensity Model of Supply Chain Enterprises under Different Credit Modes".SUSTAINABILITY 14.20(2022):26.