讲座主题：Sustainability Building of an Agricultural Supply Chain with the Capital-Constrained Farmer in Developing Economies

　　主讲人：弋泽龙

　　讲座地点：B228

　　讲座时间：2018年 5月23日上午10点00 分

　　主办单位：betway必威管理科学与工程系

　　讲座摘要：We consider a decentralized agricultural supply chain consisting of a capital-constrained smallholder farmer and an intermediary platform. The smallholder farmer sells the agricultural products through the intermediary platform but lacks the financial resources for production. In addition to the traditional solution of bank financing (provided by a bank) as a source of finance for the capital-constrained farmer to ensure the sustainable production of the agricultural goods, the intermediary platform can also provide loans directly to the smallholder farmer (known as direct financing) or serve as a guarantor if the capital-constrained farmer has insufficient creditworthiness to obtain bank loans (known as guarantor financing). The farmer can thus obtain a loan through three methods: bank financing, guarantor financing, and direct financing. We find that the smallholder farmer produces the most under direct financing and the least under bank financing, and that the intermediary platform prefers direct financing over guarantor financing in a weak sense. Specifically, when the farmer's production cost is low, the intermediary platform prefers financing the farmer directly; when the cost is in an intermediate range, the platform prefers either direct or guarantor financing; and when the cost is high, it is in the best interest of the intermediary platform to encourage the farmer to raise funds from the banking market. We also assess the best financing format for profitability of the smallholder farmer and the sustainability of the whole supply chain, and find that the farmer prefers bank financing while the preference of the supply chain as a whole depends on the cost. Interestingly, under both guarantor financing and direct financing, the smallholder farmer's level of production can be higher than that under a centralized chain (where the farmer and the intermediary platform belong to the same entity) regardless of whether the chain encounters financial constraints. Moreover, the decentralized supply chain can be coordinated under direct financing when the farmer's production cost is relatively low.

　　个人简介：

　　弋泽龙，深圳大学经济学院交通经济与物流管理系助理教授，博士毕业于香港科技大学商学院，研究兴趣包括供应链管理、运营管理和信息不对称等问题，已经在Production and Operations Management和Decision Sciences等期刊发表论文，担任Manufacturing & Service Operations Management、Production and Operations Management、OMEGA、Reliability Engineering and System Safety等期刊匿名审稿人。