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Robust pricing and inventory decisions in ship‐from‐store omnichannel operations 从商店发货的全渠道运营中的稳健定价和库存决策
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-09-05 DOI: 10.1002/mde.4348
Yue Sun, Ruozhen Qiu, Minghe Sun
This work studies the deployment of the ship‐from‐store omnichannel strategy and the pricing and inventory decisions for an online retailer. Robust optimization models are constructed for the online‐only and the ship‐from‐store modes under a budgeted uncertainty set. The ARIMA model is used to predict the parameter values of the budgeted uncertainty set using historical demand data. The closed‐form optimal solution for the online‐only mode is obtained. The robust counterpart model for the ship‐from‐store mode is converted to a mixed integer quadratic programming model. Numerical studies are conducted to validate the theoretical results and to verify the effectiveness and practicality of the developed robust optimization solution approach. The results show that adopting a ship‐from‐store strategy may hurt the retailer's profit if a significant proportion of consumers are time‐sensitive with high travel cost. The ship‐from‐store strategy is optimal if it significantly boosts market growth.
这项研究探讨了从商店发货的全渠道战略的部署以及在线零售商的定价和库存决策。在预算不确定性集下,为在线模式和从商店发货模式构建了稳健的优化模型。利用历史需求数据,ARIMA 模型可用于预测预算不确定性集的参数值。得出了在线模式的闭式最优解。从商店发货模式的稳健对应模型被转换为混合整数二次编程模型。通过数值研究验证了理论结果,并验证了所开发的稳健优化求解方法的有效性和实用性。研究结果表明,如果相当一部分消费者对时间敏感且旅行成本较高,那么采用从商店发货的策略可能会损害零售商的利润。如果从商店发货能显著促进市场增长,那么这种策略就是最优的。
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引用次数: 0
Harnessing the power of module markets for effective product recovery strategies 利用模块市场的力量制定有效的产品回收战略
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-09-02 DOI: 10.1002/mde.4375
Xuxin Lai, Li Zhou, Nengmin Wang, Tao Jia
This paper investigates how product modularity affects a manufacturer's recovery strategy by constructing two trade‐in models: one with a module market and another without. Our results reveal that opening a module market is not always profitable for the manufacturer, except when the module production cost is extremely low. When opening it is less profitable, the manufacturer can boost profits by raising the module price, increasing salvage value, and reducing costs through remanufacturing. Regarding collection quantity, our findings reveal that a module market, particularly with high module costs and durability, increases trade‐in quantity, challenging the conventional expectations of market share erosion.
本文通过构建两个以旧换新模型:一个有模块市场,另一个没有。我们的研究结果表明,除了模块生产成本极低的情况外,开放模块市场对制造商来说并不总是有利可图的。当开设模块市场的利润较低时,制造商可以通过提高模块价格、增加残值以及通过再制造降低成本来提高利润。在回收数量方面,我们的研究结果表明,模块市场,尤其是模块成本高、耐用性好的市场,会增加以旧换新的数量,这对市场份额受到侵蚀的传统预期提出了挑战。
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引用次数: 0
Imported inputs and productivity: Unraveling the dynamics in India's manufacturing sector 进口投入与生产率:解读印度制造业的发展动态
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-09-02 DOI: 10.1002/mde.4382
Rupika Khanna, Chandan Sharma
This study investigates effects of imported intermediate inputs on firms' productivity in the Indian manufacturing. We use a panel data of manufacturing firms from 2001 to 2021 and adopt the production function approach for analysis. Our results confirm the crucial role of all three imported input types at aggregated and disaggregated levels. However, the productivity effect of imported raw materials is the largest, followed by finished goods and capital inputs. Results show the role of imports is marginally higher for high innovation, specialist‐suppliers and science‐based industries. We also show that spillover effects of foreign technology embodied in imported capital goods.
本研究探讨了进口中间投入对印度制造业企业生产率的影响。我们使用 2001 年至 2021 年制造业企业的面板数据,并采用生产函数法进行分析。我们的研究结果证实了所有三种进口投入类型在总量和分类水平上的关键作用。然而,进口原材料对生产率的影响最大,其次是成品和资本投入。结果表明,进口对高创新、专业供应商和以科学为基础的产业的作用略高。我们还表明,进口资本货物所体现的外国技术具有溢出效应。
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引用次数: 0
Does a super league tournament harm domestic leagues? Evidence from basketball's Euroleague 超级联赛会损害国内联赛吗?篮球欧洲联赛的证据
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-30 DOI: 10.1002/mde.4376
Babatunde Buraimo, Jing Guan, J. D. Tena
Sports leagues are traditionally considered natural monopolies. Understanding how they interact with one another is important. It is unclear how participation in a closed supra league affects competition in domestic leagues. This paper studies the effect of participating in basketball's Euroleague on team performance in national leagues. We find that Euroleague participation reduces the probability of victory by around 9% in ‘big’ leagues (i.e. those with the strongest teams). However, no significant effect was found in other leagues. A possible transmission channel is the reduction in the number of days between matches. We discuss the policy implications of this result.
体育联盟历来被视为自然垄断组织。了解它们如何相互影响非常重要。目前还不清楚参加封闭的超级联赛会如何影响国内联赛的竞争。本文研究了参加篮球欧洲联赛对国内联赛球队表现的影响。我们发现,参加欧洲联赛会使 "大 "联赛(即拥有最强球队的联赛)的获胜概率降低约 9%。然而,在其他联赛中并未发现明显的影响。一个可能的传播渠道是比赛间隔天数的减少。我们将讨论这一结果的政策含义。
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引用次数: 0
Technology innovation decision‐making and optimal government subsidy strategy with endogenous bargaining power in a vertical supply chain 纵向供应链中具有内生议价能力的技术创新决策和最优政府补贴策略
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-26 DOI: 10.1002/mde.4351
Junlong Chen, Zuli Han, Xiaomin Sun, Jiali Liu
This study presents a vertical supply chain model that considers bargaining power to explore independent innovation and co‐innovation decisions and their impacts and analyzes the optimal subsidy strategy for co‐innovation. We find that collaboration promotes technology innovation. Increases in consumer innovation preferences and government subsidies are conducive to co‐innovation. Both independent and co‐innovation can promote Pareto improvements under limiting conditions. Government subsidies can improve co‐innovation performance, but the subsidy parameter needs to be regulated. The optimal subsidy strategy is influenced by the subsidy target and budget. Governments prefer an innovative degree subsidy or a production cost subsidy.
本研究提出了一个考虑议价能力的垂直供应链模型,以探讨独立创新和联合创新决策及其影响,并分析联合创新的最优补贴策略。我们发现,合作能促进技术创新。消费者创新偏好的增加和政府补贴有利于联合创新。在限制条件下,独立创新和联合创新都能促进帕累托改进。政府补贴可以提高联合创新的绩效,但需要对补贴参数进行调节。最佳补贴策略受补贴目标和预算的影响。政府更倾向于创新程度补贴或生产成本补贴。
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引用次数: 0
Optimal extended warranty strategy considering channel perception and endogenous quality 考虑渠道感知和内生质量的最优延保策略
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-23 DOI: 10.1002/mde.4371
Keang Zhang, Tao Zhang, Shang Gao
Extended warranties (EWs) are common in online sales, available from various providers. Manufacturers are typically perceived as better repairers, making their EWs more valuable than retailers'. We explore four cases: no provider (Model N), manufacturer‐provided (Model M), retailer‐provided (Model R), and dual‐provider (Model B). Initially, we analyze exogenous quality, then consider endogenous quality with variable failure rates (Models VN, VM, VR, and VB). While product demand is consistent, EW demand varies across models. Dual‐channel EWs (Model B/VB) maintain manufacturer EW demand but reduce retailer EW demand. They increase profits under exogenous quality but may not under endogenous quality.
延长保修(EW)在网上销售中很常见,有各种供应商提供。制造商通常被认为是更好的维修商,因此他们的延长保修比零售商的更有价值。我们探讨了四种情况:无提供商(模型 N)、制造商提供(模型 M)、零售商提供(模型 R)和双提供商(模型 B)。我们首先分析外生质量,然后考虑故障率可变的内生质量(模型 VN、VM、VR 和 VB)。虽然产品需求是一致的,但不同模式下的 EW 需求却各不相同。双渠道 EW(模型 B/VB)维持了制造商的 EW 需求,但减少了零售商的 EW 需求。在外生性质量条件下,它们会增加利润,但在内生性质量条件下可能不会。
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引用次数: 0
The CO2 cost pass‐through and market power in emission trading schemes with vertical relations 具有纵向关系的排放交易计划中的二氧化碳成本转嫁和市场力量
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-23 DOI: 10.1002/mde.4356
Wenya Liu, Xusen Zhu, Zhe Chen
Recently, the use of pass‐through as an economic tool has garnered increasing interest. This paper explores the relationship between CO2 cost pass‐through and market power within emission trading schemes characterized by vertical relations. Our study finds that increased competition in the wholesale market can mitigate pass‐through under mild conditions, while countervailing buyer power at the retail level can partially neutralize the effects of CO2 cost pass‐through. Furthermore, our numerical tests reveal pass‐through overshifting, occurring even under non‐convex market demand conditions. Our results generalize and update some known findings in literature (e.g. Wang and Zhou, 2017; Yu et al., 2021; and Chen et al., 2023) and carry some important implications for energy policy, environmental regulation, and welfare analysis.
最近,将转嫁作为一种经济工具的做法越来越受到关注。本文探讨了以纵向关系为特征的排放交易计划中二氧化碳成本转嫁与市场力量之间的关系。我们的研究发现,在温和的条件下,批发市场竞争的加剧可以缓解转嫁,而零售层面的买方力量可以部分中和二氧化碳成本转嫁的影响。此外,我们的数值测试表明,即使在非凸的市场需求条件下,转嫁也会发生。我们的结果概括并更新了一些已知的文献结论(如 Wang 和 Zhou,2017 年;Yu 等,2021 年;Chen 等,2023 年),并对能源政策、环境监管和福利分析产生了一些重要影响。
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引用次数: 0
Supply chain financing decision with installment redemption under dynamic pledge 动态质押下分期赎回的供应链融资决策
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-23 DOI: 10.1002/mde.4373
Xin Cai, Dongdong Li, Jiaojie Chu, Xueyong Liu
In this paper, the dynamic pledge financing decision problem of a borrowing enterprise is studied in the context of a supply chain finance system that includes a financial institution and a borrowing enterprise (small and medium‐sized enterprises [SMEs]). The optimal Inventory pledge, as well as redemption decisions of the borrowing enterprise, are analyzed under the consideration of constant and changing redemption prices, respectively, and the effects of the main parameters on the optimal decisions are discussed. It found that (1) when the redemption price is constant, the borrowing enterprise's optimal quantity of inventory pledge increases as the initial inventory quantity increases or the redemption price decreases; (2) when the redemption price varies, the borrowing enterprise's optimal inventory redemption quantity decreases as the initial inventory pledge and the redemption price increase; and (3) the borrowing enterprise's redemption decision is affected by the previous period's redemption quantity and the actual sales quantity. The conclusions of this paper not only provide suggestions for SMEs to make inventory pledge financing decisions but also provide references for financial institutions to formulate relevant financing rules.
本文以包括金融机构和借款企业(中小型企业 [SMEs])在内的供应链融资系统为背景,研究了借款企业的动态质押融资决策问题。在考虑赎回价格不变和变化的情况下,分别分析了借款企业的最优库存质押和赎回决策,并讨论了主要参数对最优决策的影响。研究发现:(1)当赎回价格不变时,借款企业的最优存货质押数量随着初始存货数量的增加或赎回价格的降低而增加;(2)当赎回价格变化时,借款企业的最优存货赎回数量随着初始存货质押数量和赎回价格的增加而减少;(3)借款企业的赎回决策受到上期赎回数量和实际销售数量的影响。本文的结论不仅为中小企业存货质押融资决策提供了建议,也为金融机构制定相关融资规则提供了参考。
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引用次数: 0
Exploring asymmetric dynamics of R&D spending and firm value nexus: Insights from panel autoregressive distributed lag analysis 探索研发支出与企业价值关系的非对称动态:面板自回归分布式滞后分析的启示
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-22 DOI: 10.1002/mde.4362
Navjot Kaur, Balwinder Singh
The present study aims to provide valuable insights into the impact of research and development (R&D) spending on firm value, considering both short‐term and long‐term dynamics while also considering any potential asymmetries in this relationship. This work is conducted using a sample of 185 listed Indian manufacturing firms over a time span of 18 years, that is, from 2006 to 2023. Both symmetric and asymmetric autoregressive distributed lag (ARDL) are employed on a final sample of 3330 firm‐year observations to unravel the intricacies of the aforementioned relationship. Based on the empirical findings from the symmetric ARDL model, it is revealed that R&D spending positively impacts the value of firms in the long run while showing no significant effect in the short run. On the contrary, the results from the asymmetric ARDL model present interesting insights. In the short run, positive (negative) changes in R&D spending appear to reduce (increase) the value of firms. However, in the long run, positive (negative) changes tend to increase (reduce) the value of companies. The key differentiator of the study is the identification of the asymmetrical impact of R&D spending on firm value. The paper argues that while R&D spending does influence firm value, the relationship between them is not inherently symmetrical. In particular, the impact of R&D spending changes from being statistically insignificant when using symmetric ARDL estimation to becoming significant when applying asymmetrical estimation methods. The findings remain largely consistent across different subsamples and alternative measurements of variables.
本研究旨在深入探讨研究与开发(R&D)支出对公司价值的影响,既考虑短期和长期动态,又考虑这种关系中任何潜在的不对称性。这项研究以 185 家印度制造业上市公司为样本,时间跨度为 18 年,即从 2006 年到 2023 年。对称和非对称自回归分布滞后(ARDL)均被用于 3330 个公司年观测数据的最终样本,以揭示上述关系的复杂性。对称自回归分布滞后模型的实证结果表明,研发支出在长期内对企业价值有积极影响,而在短期内没有显著影响。与此相反,非对称 ARDL 模型的结果提出了有趣的见解。在短期内,研发支出的正(负)变化似乎会降低(提高)企业价值。然而,从长期来看,正(负)变化往往会增加(减少)公司的价值。这项研究的关键与众不同之处在于发现了研发支出对公司价值的非对称影响。本文认为,虽然研发支出确实会影响公司价值,但两者之间的关系本质上并不对称。特别是,R&D 支出的影响从使用对称 ARDL 估计时的统计不显著变为使用非对称估计方法时的显著。在不同的子样本和变量的其他测量方法中,研究结果基本保持一致。
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引用次数: 0
Investment in fuel‐consumption reduction technologies in a vehicle supply chain under different subsidy policies: A dynamic framework 不同补贴政策下汽车供应链中的油耗降低技术投资:动态框架
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2024-08-21 DOI: 10.1002/mde.4365
Yongxi Yi, Meng Zhang, Yuqiong Li, Chunyan Fu
It develops a differential game model of a fuel car supply chain in which consumers' low fuel consumption, green preferences, and government subsidies promote manufacturers' investment in fuel‐consumption reduction technologies (FCRT); the price, the fuel consumption per mile, and the retailer's marketing efforts jointly determine the demand for the product. There are four game scenarios constituted by ex ante or ex post government that subsidizes and shares or does not share marketing costs. The results show that ex ante and ex post subsidies can incentivize investment in FCRT. However, the preferable subsidy model depends on the parameter values; the manufacturer‐led marketing cost‐sharing contract results in supply chain coordination.
它建立了一个燃油汽车供应链的差分博弈模型,在该模型中,消费者的低油耗、绿色偏好和政府补贴促进了制造商对降低油耗技术(FCRT)的投资;价格、每英里油耗和零售商的营销努力共同决定了产品需求。有四种博弈情景,分别由事前或事后政府补贴、分担或不分担营销成本构成。结果表明,事前补贴和事后补贴都能激励对食品添加剂和污染物回收技术的投资。然而,哪种补贴模式更可取取决于参数值;制造商主导的营销成本分担合同可实现供应链协调。
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引用次数: 0
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Managerial and Decision Economics
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