文献类型：期刊文献

英文题名：Influences of risk-aversion behavior and purchasing option in a cross-border dual-channel supply chain

作者：Chen, Xue[1];Li, Bo[2];Song, Dongping[3];Wang, Minxue[2]

通讯作者：Li, B[1]

机构：[1]Henan Univ Econ & Law, Sch Business Adm, Zhengzhou 450000, Peoples R China;[2]Tianjin Univ, Coll Management & Econ, Tianjin 300072, Peoples R China;[3]Univ Liverpool, Sch Management, Liverpool 999020, England

第一机构：河南财经政法大学工商管理学院

通讯机构：[1]corresponding author), Tianjin Univ, Coll Management & Econ, Tianjin 300072, Peoples R China.

年份：2023

外文期刊名：INTERNATIONAL TRANSACTIONS IN OPERATIONAL RESEARCH

收录：;EI(收录号：20232814369907);Scopus(收录号：2-s2.0-85164111753);WOS:【SSCI(收录号:WOS:001019878900001)，SCI-EXPANDED(收录号:WOS:001019878900001)】；

基金：Acknowledgments The authors are grateful to the editor and the anonymous reviewers for their valuable comments. This work was supported by National Project Pre-research Project (no. GS202206) and Major Program of the National Social Science Foundation of China (no. 21 & ZD102).

语种：英文

外文关键词：cross-border dual-channel supply chain; exchange rate; option; risk-aversion behavior; pricing decisions

摘要：Considering the rapid development of cross-border e-commerce, this paper constructs a cross-border dual-channel supply chain with a supplier and a retailer in different countries. The supplier directly sells products to overseas market through an online channel and a retail channel. Since the supplier expands the overseas market and bears the potential risk of exchange rate volatility, the supplier is risk-averse. In the presence of exchange rate volatility, the risk-averse supplier decides whether to purchase an option to hedge against the risk of exchange rate volatility. Conditional value at risk is applied as a measure of the supplier's risk-averse behavior. To identify the conditions under which the risk-averse supplier should purchase an option, we analyze two scenarios: the benchmark model and the option model. By comparing the benchmark model with the option model, we show that if the option premium is lower than a threshold, the risk-averse supplier prefers to purchase an option, which also makes the retailer better off. Interestingly, when the supplier becomes less risk-averse, as the exchange rate volatility increases, both players benefit a higher utility in the option model. Finally, we verify the results' robustness using numerical analysis.