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| Manufacturer’s Financing Strategy in a Dual-Channel Supply Chain Based on the Behavior of Fairness Concern |
| YANG Lifang，ZHOU Yongwu，CAO Bin |
| 1. Beijing Wuzi University, Beijing, China; 2. South China University of Technology, Guangzhou, China； 3. Jinan University, Guangzhou, China |
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Abstract This study establishes a dual-channel model in which the manufacturer with capital constraint sells products through both online and traditional channels, introducing fairness concern of the retailer in traditional channels, and discusses manufacturer’s financing strategy choice. The results show that decision variables and manufacturer’s optimal financing strategies depend on fairness concern parameter. The intensification of competition leads to a higher manufacturer’s wholesale price, a higher direct sales price as well as a higher retailer’s direct retail price. When the financing party increases the loan interest rate, the manufacturer’s wholesale price and direct sales price will increase, and the both price with financing are higher than those without financing. It is better for the manufacturer to choose third-party platform financing when the fairness concern parameter is low; while the manufacturer may adopt bank financing when the fairness concern parameter is high.
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Received: 21 September 2021
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