Market entrance and pricing strategies for a capital-constrained remanufacturing supply chain: effects of equity and bank financing on circular economy

References

• Abbey, J. D., and V. D. R. Guide. 2018. “A Typology of Remanufacturing in Closed-Loop Supply Chains.” International Journal of Production Research 56 (1-2): 374–384.
   Web of Science ®Google Scholar
• Atasu, A., V. D. R. Guide Jr, and L. N. Van Wassenhove. 2010. “So What If Remanufacturing Cannibalizes My New Product Sales?” California Management Review 52 (2): 56–76.
   Web of Science ®Google Scholar
• Atasu, A., V. D. R. Guide, and L. N. Van Wassenhove. 2008a. “Product Reuse Economics in Closed-Loop Supply Chain Research.” Production and Operations Management 17 (5): 483–496.
   Web of Science ®Google Scholar
• Atasu, A., M. Sarvary, and L. N. Van Wassenhove. 2008b. “Remanufacturing as a Marketing Strategy.” Management Science 54 (10): 1731–1746.
   Web of Science ®Google Scholar
• Bellantuono, N., I. Giannoccaro, P. Pontrandolfo, and C. S. Tang. 2009. “The Implications of Joint Adoption of Revenue Sharing and Advance Booking Discount Programs.” International Journal of Production Economics 121 (2): 383–394.
   Web of Science ®Google Scholar
• Burkart, M., and T. Ellingsen. 2004. “In-Kind Finance: A Theory of Trade Credit.” American Economic Review 94: 569–590.
   Web of Science ®Google Scholar
• Cai, G. G., X. F. Chen, and Z. G. Xiao. 2014. “The Roles of Bank and Trade Credits: Theoretical Analysis and Empirical Evidence.” Production and Operations Management 23 (4): 583–598.
   Web of Science ®Google Scholar
• CFi.CN. 2020. “Derivative Technology: Announcement on the Progress of the Bankruptcy and Reorganization of Xiaohuanggou Environmental Technology Co., Ltd”. Accessed Ausust 1, 2020. https://www.cfi.net.cn/p20200716001334.html. (in Chinese).
   Google Scholar
• Chen, W. D., and X. M. Bi. 2017. “A Research on Manufacturing/Remanufacturing Production Decisions with Carbon tax Policy and Capital Constraints Considered.” Industrial Engineering Journal 20 (5): 1–8.
   Google Scholar
• Chen, X., G. Cai, and J. Song. 2018. “The Cash Flow Advantages of 3PLs as Supply Chain Orchestrators.” Manufacturing & Service Operations Management 21 (2): 435–451.
   Web of Science ®Google Scholar
• Chung, K. J., and C. K. Huang. 2009. “An Ordering Policy with Allowable Shortage and Permissible Delay in Payments.” Applied Mathematical Modelling 33 (5): 2518–2525.
   Web of Science ®Google Scholar
• Devalkar, S. K., and H. Krishnan. 2019. “The Impact of Working Capital Financing Costs on the Efficiency of Trade Credit.” Production and Operations Management 28 (4): 878–889.
   Web of Science ®Google Scholar
• Ding, X. F., H. M. Su, X. J. Wang, and P. Gao. 2018. “Financing Decision for Closed Loop Supply Chain with Capital Constraints.” Computer Integrated Manufacturing Systems 24 (10): 2643–2650.
   Google Scholar
• Economic Times. 2018. “China’s Recommerce Giant AiHuiShou Looks to Cash in with Cashify Deal”. Accessed Ausust 1, 2020. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/chinas-recommerce-giant-aihuishou-looks-to-cash-in-with-cashify-deal/articleshow/64628195.cms.
   Google Scholar
• European Commission. 2015. “Closing the Loop – an EU Action Plan for the Circular Economy.” https://www.bamb2020.eu/news/closing-the-loop-eu-action-plan-for-the-circular-economy/.
   Google Scholar
• Fang, L., Y. Xia, and Y. M. Yang. 2018. “Research on Equilibrium of Supply Chain Finance Decision with Retailer’s Sale Effort Level.” Systems Engineering – Theory & Practice 38 (1): 135–144.
   Google Scholar
• Ferguson, M. E., and L. B. Toktay. 2006. “The Effect of Competition on Recovery Strategies.” Production and Operations Management 15 (3): 351–368.
   Web of Science ®Google Scholar
• Ferrer, G., and J. M. Swaminathan. 2006. “Managing New and Remanufactured Products.” Management Science 52 (1): 15–26.
   Web of Science ®Google Scholar
• Gao, P., X. Ding, and R. Qin. 2020. “Financing Strategies of the Remanufacturer under the Condition of Capital Constraints.” Computer Integrated Manufacturing Systems 26 (1): 240–249. (in Chinese).
   Google Scholar
• Gao, D., X. Zhao, and W. Geng. 2014. “A Delay-in-Payment Contract for Pareto Improvement of a Supply Chain with Stochastic Demand.” Omega 49: 60–68.
   Web of Science ®Google Scholar
• Goyal, S. K. 1985. “Economic Order Quantity under Conditions of Permissible Delay in Payments.” Journal of the Operational Research Society 36 (4): 335–338.
   Web of Science ®Google Scholar
• Guide Jr, V. D. R., G. C. Souza, L. N. Van Wassenhove, and J. D. Blackburn. 2006. “Time Value of Commercial Product Returns.” Management Science 52 (8): 1200–1214.
   Web of Science ®Google Scholar
• Huang, H., Q. Meng, H. Xu, and Y. Zhou. 2019. “Cost Information Sharing under Competition in Remanufacturing.” International Journal of Production Research 57 (21): 6579–6592.
   Web of Science ®Google Scholar
• Hurun Research Institute. 2020. “Hurun China 500 Most Valuable Private Companies 2019.” Accessed July 29, 2020. https://www.hurun.net/EN/Article/Details?num=3E542F6FBA3D.
   Google Scholar
• Hwang, H., and S. W. Shinn. 1997. “Retailer’s Pricing and Lot Sizing Policy for Exponentially Deteriorating Products under the Condition of Permissible Delay in Payments.” Computers & Operations Research 24 (6): 539–547.
   Web of Science ®Google Scholar
• Jing, B., X. F. Chen, and G. G. Cai. 2012. “Equilibrium Financing in a Distribution Channel with Capital Constraint.” Production and Operations Management 21 (6): 1090–1101.
   Web of Science ®Google Scholar
• Kouvelis, P., and W. Zhao. 2012. “Financing the Newsvendor: Supplier vs. Bank, and the Structure of Optimal Trade Credit Contracts.” Operations Research 60 (3): 566–580.
   Web of Science ®Google Scholar
• Li, X., C. Lin, and X. Zhan. 2019. “Does Change in the Information Environment Affect Financing Choices?” Management Science 65 (12): 5676–5696.
   Web of Science ®Google Scholar
• Ouyang, L. Y., C. T. Chang, and J. T. Teng. 2005. “An EOQ Model for Deteriorating Items under Trade Credits.” Journal of the Operational Research Society 6 (6): 719–726.
   Web of Science ®Google Scholar
• People’s Daily Online. 2019. “AI-Powered Waste Management Underway in China.” Accessed July 29, 2020. http://en.people.cn/n3/2019/0226/c98649-9549956.html.
   Google Scholar
• Qin, J., Y. Han, G. Wei, and L. Xia. 2020. “The Value of Advance Payment Financing to Carbon Emission Reduction and Production in a Supply Chain with Game Theory Analysis.” International Journal of Production Research 58 (1): 200–219.
   Web of Science ®Google Scholar
• Savaskan, R. C., S. Bhattacharya, and L. N. Van Wassenhove. 2004. “Closed-Loop Supply Chain Models with Product Remanufacturing.” Management Science 50 (2): 239–252.
   Web of Science ®Google Scholar
• Shi, J. Z., R. Y. K. Fung, and J. E. Guo. 2016. “Optimal Ordering and Pricing Policies for Seasonal Products: Impacts of Demand Uncertainty and Capital Constraint.” Discrete Dynamics in Nature and Society 2016: 1–13.
   Web of Science ®Google Scholar
• Taleizadeh, A. A., D. W. Pentico, M. S. Jabalameli, and M. Aryanezhad. 2013. “An EOQ Model with Partial Delayed Payment and Partial Backordering.” Omega 41 (2): 354–368.
   Web of Science ®Google Scholar
• Tang, C. S., K. Rajaram, A. Alptekinoğlu, and J. Ou. 2004. “The Benefits of Advance Booking Discount Programs: Model and Analysis.” Management Science 50 (4): 465–478.
   Web of Science ®Google Scholar
• Tang, C. S., S. A. Yang, and J. Wu. 2017. “Sourcing from Suppliers with Financial Constraints and Performance Risk.” Manufacturing & Service Operations Management 20 (1): 70–84.
   Web of Science ®Google Scholar
• VCCircle. 2018. “Chinese Recommerce Giant Aihuishou Backs Used Gadgets Marketplace Cashify.” Accessed August 1, 2020. https://www.vccircle.com/chinese-recommerce-giant-aihuishou-backs-used-gadgets-marketplace-cashify.
   Google Scholar
• Wang, Y., and W. Chen. 2017a. “Effects of Emissions Constraint on Manufacturing/Remanufacturing Decisions Considering Capital Constraint and Financing.” Atmospheric Pollution Research 8 (3): 455–464.
   Web of Science ®Google Scholar
• Wang, Y., and W. Chen. 2017b. “Integrated Research on Production and Financing Decisions of Remanufacturing Enterprise Considering Capital Constraint.” Jonrnal of Industrial Engineering/Engineering Management 31 (4): 140–146.
   Google Scholar
• Wang, Y., W. Chen, and B. Liu. 2017. “Manufacturing/Remanufacturing Decisions for a Capital-Constrained Manufacturer Considering Carbon Emission Cap and Trade.” Journal of Cleaner Production 140 (Part 3): 1118–1128.
   Web of Science ®Google Scholar
• Wu, C. H. 2012. “Product-Design and Pricing Strategies with Remanufacturing.” European Journal of Operational Research 222 (2): 204–215.
   Web of Science ®Google Scholar
• Wu, C. H. 2013. “OEM Product Design in a Price Competition with Remanufactured Product.” Omega 41 (2): 287–298.
   Web of Science ®Google Scholar
• Xu, X., and J. R. Birge. 2004. “Joint Production and Financing Decisions: Modeling and Analysis[OB/EL].” Working paper https://ssrn.com/abstract=652562 or http://dx.doi.org/10.2139/ssrn.652562.
   Google Scholar
• Yang, H., W. Zhuo, and L. Shao. 2017. “Equilibrium Evolution in a Two-Echelon Supply Chain with Financially Constrained Retailers: The Impact of Equity Financing.” International Journal of Production Economics 185: 139–149.
   Web of Science ®Google Scholar
• Zhang, Z. C., H. Y. Xu, and K. B. Chen. 2020. “Operational Decisions and Financing Strategies in a Capital-Constrained Closed-Loop Supply Chain.” International Journal of Production Research 1–21. In press.
   Web of Science ®Google Scholar