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Trade Credit Term Decision Under Boundary Logistic Default Risk
Pages: 364-368
Year: Issue:  3
Journal: Transactions of Beijing Institute of Technology

Keyword:  商业信用期限委托-代理违约;
Abstract: 采用边界Logistic模型描述下游企业违约风险,建立了一个考虑下游企业违约风险,并能体现上游生产商风险厌恶程度的委托-代理模型,用来确定激励相容的商业信用期限决? 通过对下游企业优化条件的处理,最终将信用期限决策的委托代理模型转化成普通的非线性规划.数值计算结果表明,信用期限决策会随着违约风险的增加而缩短,是违约风险的凹函数;生产商厌恶程度越大,越倾向于给予较短的期限.
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