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| Tripartite Evolutionary Game Research of Factoring Financing Under the Integration of Blockchain |
| JIAO Yuanyuan，YAN Xin，DU Jun，LI Jingrong |
| 1. Nankai University, Tianjin, China; 2. Tianjin University, Tianjin, China; 3. Renmin University of China, Beijing, China |
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Abstract The innovative development of factoring financing model from the perspective of blockchain empowerment is inseparable from the participation of financial institutions, core enterprises and suppliers. By systematically combing the business process of blockchain-enabled factoring financing model, this paper constructs a tripartite evolutionary game model of financial institutions, core enterprises and suppliers, analyzes the stability of the strategy selection of each game subject, and analyzes the influence of key factors on the system evolution in combination with the practice of trusted blockchain promotion plan. The results are: The numerical relationship of variables affects the evolutionarily stable strategy of factoring financing system; Platform service fees, business costs, partner default losses and compensation are important factors affecting financial institutions’ choice of blockchain factoring financing model; The hidden value loss under the blockchain-enabled factoring financing model is a key factor that constrains the default of core enterprises and suppliers.
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Received: 30 March 2022
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