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| Theoretical Study on Upstream Party Initiated Finance |
| YANG Bin, ZHU Weiming, ZHAO Haiying
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PBC School of Finance,Tsinghua University;
IESE Business School;
China Investment Corporation |
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Abstract In recent years, supply chain finance has been brought under the spotlight in both academia and industry. With the launch of One Belt, One Road Initiative, a number of companies in China are planning to sell their products their foreign counterparts, and success of the scheme relies upon the proper implementation of supply chain finance. But they are facing financial constrain of buyers widely. In this paper, a novel buy back financing scheme is introduced. We calculated the optimal order quantity under such novel financing scheme, and compare its efficiency to other commonly used financing scheme like commercial loan and trade credit. We demonstrate that the buy back financing scheme outperforms the two financing schemes and can greatly enhance the efficiency of the supply. This is very important to cut overcapacity and excess inventory.
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Received: 28 July 2016
Published: 01 January 1900
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