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20 July 2017, Volume 25 Issue 7 Previous Issue    Next Issue

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The Short-term and Medium-term Impact of Carbon Trading Mechanism on Chinese Industries YAN Bing-qian, QIAO Hai, WANG Shou-yang 2017, 25 (7):  1-10.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.001 Abstract ( 1244 )   PDF (2258KB) ( 949 )   Save Two assumptions of the traditional input-output price model are: not to consider the price adjustment of the initiative industries and not to consider the feedback effect of consumption final demand change on industry output. This paper makesa new development and an improvement on the traditional input-output price model by relaxing those two assumptions, and proposes the global price transmission model under the carbon emission trading mechanism, which can be used to analyze the short-term and medium-term impact of carbon emission trading mechanism on the production cost and price of national economic industries. This analysis can identify the industries to which more attention should be paid, in order to ensure the successful implementation of carbon trading policy. The simulation results show that, after the police implementation, some industries, such as production and supply of tap water, other minerals mining and dressing, production and supply of electric power, are sensitive to the policy and have relatively large profit percentage change. References | Related Articles | Metrics

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Competitive Investment Strategy for Renewable Power Generation Under Uncertainty LI Li, ZHU Lei, FAN Ying 2017, 25 (7):  11-17.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.002 Abstract ( 2360 )   PDF (1017KB) ( 800 )   Save In this paper, complete preemption game model based on the real option theory is provided to analyze the optimal investment timing for investors when they compete with counterparts for the renewable energy projects under the feed in tariff policies. A geometric Brownian motion is adopted to characterize the dynamic variation of electricity spot pricing. Also, the influence of incomplete information related to rivals' investment timings on the decisions is stuaied. Theoretically, it is proved that the investment timing is within the range with upper bound of the timing for a monopolist and lower bound of the timing decided by zero-net present value. Numerical results reveal that the more FIT level and the earlier investment timing. The proposed model is able to help investors to determine the optimal timing of the feed in tariff policies when they participate in investigating, and the policy makers can draft a reasonable FIT level according to the feedback of the investors. References | Related Articles | Metrics

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The Constructional Path and the System Logic of Financial Regulation from the Local Government QU Shu-juan 2017, 25 (7):  18-27.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.003 Abstract ( 1097 )   PDF (912KB) ( 1447 )   Save The rapid development of the financial industry has required a higher level of supervision.Is there an access to improve our finance? Improving the local financial regulation system within the framework of the law is an inevitable choice to promote the reform of Chinese financial system and accelerate the development of the financial in dustry.Aiming at the practical problem of local governments' participation in financial regulation,the game theory is adopted to analyze the relationship between the central regulatory authority and local financial regulatory aglncies,as well as the relationship between local financial regulatory agencies and local financial institutions on the basis of the legitimacy analysis of looal financial supervision system.Furthermore,the path to improve the local financial regulatory system is tried to be found out.A great significance is contributed to improve the theory of local financial supervision and construct the system. References | Related Articles | Metrics

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Optimal Inventory Policy for Deteriorating Items Under Cap-and-trade Regulation BAI Qing-guo, XU Xian-hao 2017, 25 (7):  28-37.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.004 Abstract ( 1311 )   PDF (1735KB) ( 986 )   Save Reducing the excessive emissions of greenhouse gases such as carbon dioxide is an effective way to achieve a low carbon economy. Many governments have carried out carbon cap-and-trade regulation. This regulation has brought more challenges to the firms' operational management because the firm activities are the main source of carbon emissions. In this scenario, a new inventory optimization problem for deteriorating items is proposed from the perspective of a retailer. The retailer orders a type of deteriorating items from the upstream supplier during a finite time horizon and sells it to customers with a time-varying price. This type of product deteriorates with a constant deterioration rate during the storing process. Moreover, the carbon emissions are generated in the ordering and storing processes. Under the constraint of carbon cap-and-trade regulation, the retailer should determine the optimal number of replenishment cycles, replenishment time and order quantity to maximize his/her total profit. This paper formulates a mixed-integer optimization model for this problem. By analyzing several properties of this model, we solve the optimal solution by using convex optimization method. Further-more,it is compared with the other two replenishment policies of the model without carbon emission consideration and the model with minimizing the carbon emissions. By solving the above thee replenishment policies, the key conditions of attaining higher profit and lower carbon emissions theoretically are cleriued. Finally, numerical analysis is used to illustrate the theoretical results and the effects of some key parameters on the optimal replenishment policy are analyzed. The results show that, the optimal number of replenishment cycles can be uniquely determined to maximize the total profit of the retailer under carbon cap-and-trade regulation; the retailer may obtain higher profit and emit lower carbon emissions when the optimal number of replenishment cycles under cap-and-trade regulation is equals to that of the model with minimizing the carbon emissions; decreasing the length of time horizon or increasing the price of trading carbon emission permit may lead to higher profit and lower carbon emissions. These observations can help firm decision-makers to determine the optimal inventory policy for maximizing his/her profit and reducing carbon emissions. On the other hand, these results can help government policy-makers to determine several feasible carbon parameters in constructing specific carbon emission regulation. References | Related Articles | Metrics

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Signaling Quality in Supply Chains by Corporate Social Responsibility LI Yu-hui, NI De-bing, TANG Xiao-wo 2017, 25 (7):  38-47.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.005 Abstract ( 1376 )   PDF (1279KB) ( 1475 )   Save Focusing on the question of how a firm in supply chain indirectly shares the product quality information via its CSR strategy,a supply chain consisting of an upstream supplier,a downstream retailer and final consumers is considered. In this supply chain,the supplier owns private information on the product quality level and tries to signal it by its CSR strategy and the supplier and the retailer transact via a wholesale price contract. Under this quality information asymmetry,in order to examine the role of CSR on signaling the quality level and the profitability conditions for the implementation of CSR mean,a signaling model is built to capture how the supplier indirectly share the quality information by its CSR strategy,the pooling equilibriums in the model when implements no CSR and the separate equilibriums in the model when implements CSR strategy are completely characterized,and a unique equilibrium is selected by the intuitive criterion. The equilibrium results show that under some technical conditions,(1) a high enough CSR level signals a high quality level in the sense of a separate equilibrium,(2) the equilibrium with the lowest threshold of CSR level is the only equilibrium satisfying the intuitive criterion,(3) the lowest threshold of the equilibrium CSR levels increases in the low-quality supplier's CSR efficiency,but is independent of that of the high-quality supplier,and (4) when and only when the differences between two types of suppliers' CSR marginal cost are sufficiently small,it is profitable for high quality supplier to share quality information through the CSR mean. These results reveal a quality-signaling motivation of firm's CSR strategy in a supply chain,provide supply chain managers indirect methods on sharing product quality information except the existing direct way,with an implication on choosing a direct or an indirect way to sharing information conditional on a known cost of direct information sharing. References | Related Articles | Metrics

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The Coordination Strategy for Two-tier Supply Chains with a Cost-sharing Contract in the Cap-and-Trade Mechanism ZHI Bang-dong, CHEN Jun-lin, LIU Xiao-hong 2017, 25 (7):  48-56.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.006 Abstract ( 1181 )   PDF (1836KB) ( 1610 )   Save With increasing awareness of the environment, how to reduce carbon emissions and improve business performance has become a new concern in the field of supply chain management. To respond to this recognition, the objective of this paper is to address the issue as to how supply chain members coordinate the production, order and emission reduction strategy in the cap-and-trade mechanism, and that improve supply chain performance by means of cost-sharing contracts. In order to solve the problem, a two-tier supply chain with a manufacturer and a supplier is considered. An EOQ model is used to analyze decision making between supply chain members. Differing from previous studies which consider single factor only, two factors, production and transportation,are taken into account. From this starting point, a Stackelberg game model is built up to investigate the optimal carbon reduction strategy and cost-sharing contracts. The research results indicate that supply chain members can coordinate against a cost-sharing contract inclusive of carbon emission reductions. Joint decision making can help to reduce carbon emissions and improve supply chain performance. According to the study, the application of cost-sharing contracts is subject to the emission reduction technology of suppliers and the carbon attribute of products. The suppliers equipped with high quality technology for carbon emission reduction and low-carbon products would have more choices for cost-sharing contracts. The research is not only conducive to supply chain members making decisions to reduce carbon emissions, but also instrumental to the government for making policies pertaining to carbon emission reduction in the cap-and-trade mechanism. References | Related Articles | Metrics

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Supply Chain Value Creation considering Open Innovation from the Perspective of Co-creation WAN Xiao-le, HAO Ting-ting, RONG Xiao-xia, MENG Qing-chun 2017, 25 (7):  57-66.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.007 Abstract ( 1283 )   PDF (1967KB) ( 1036 )   Save Previous studies complied with the value creation logics of the main chain in the supply chain only, while ignoring the impact of the main body outside the chain on the supply chain value creation. Therefore, a supply chain value creation model is constructed in consideration of open innovation from the perspective of supply chain innovative practice firstly based on the supply chain value creation logics of "main creation of the main body in the supply chain + main body auxiliary creation outside the chain". And then, the supply chain value, the value of enterprise alliance, customer value and main body value of open innovation are discussed, the cost reduction of enterprise alliance, innovation cost and the impact of payment made to the open innovation main body on the supply chain value, the value of enterprise alliance, consumer value and main body of open innovation are also discussed. The following conclusions are given through model analysis: (1) Whether the future market is of high demand or low demand, to increase the value created by the supply chain, the parameter set composed of the cost reduction of enterprise alliance, the cost of innovation and the payment made to the open innovation main body shall meet certain conditions. (2) When the future market demand is high, and the unit cost lowered by the enterprise alliance is higher than the unit reward given to the main body of open innovation, the enterprise alliance value increases; and when the future market demand is low, the enterprise alliance value is uncertain. (3) Regardless of the market demand, consumer value increases to varying degrees, consumers are always the beneficiaries of supply chain value creation with open innovation. (4) The income of open innovation main body is not stable, influenced by the future market demand, unit reward given to the open innovation and the innovation cost. The paper also finds that under open innovation, the enterprise alliance and the main body of open innovation may suffer from the value loss. The risk of open innovation is shared by the enterprise alliance and the open innovation main body together. Finally, numerical analysis, and analog simulation are made with MATLAB software. This study is of great significance in revealing the value of supply chain comprehensively and enriching supply chain value management theory under the perspective of common creation in a broad sense. References | Related Articles | Metrics

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Research ofthe Model and Algorithm for Two-dimensional Multi-depots Capacitated Vehicle Routing Problem with Time Window Constrain YAN Rui, ZHU Xiao-ning, ZHANG Qun, QI Yao-yuan, LIN Yu-zheng 2017, 25 (7):  67-77.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.008 Abstract ( 1158 )   PDF (1698KB) ( 1437 )   Save Both vehicle routing problem (VRP) and bin packing problem (BPP) are important, typical combinatorial optimization problems, and are frequently and independently studied in the past few decades. In recent years, some attention has been devoted to their combined optimization, called 2L-CVRP (two-dimensional capacitated vehicle routing problem), which is a combination of two important NP-hard optimization problems in distribution logistics. In the 2L-CVRP, clients demand are defined as sets of rectangular weighted items, while vehicles have a weight capacity and a rectangular two-dimensional loading surface. The objective of the 2L-CVPR is to serve all the customers and load the corresponding items into the vehicles, through a road network, with minimum total cost. Problem description:In this paper, a multi-depots capacitated vehicle routing problem with time window where client demand is composed of two-dimensional weighted items is addressed (2L-CVRP-MDTM).The model and an improved hybrid algorithm to solve the problem are proposed. The hybrid algorithm GLS-QPSO is composed by the Quantum-behaved Particle Swarm Optimization algorithm which is applied to solve the vehicle routing problem and Guided Local Search algorithm which is used to identify the feasible packing solutions. Method: New loading heuristic rules are proposed in Guided Local Search algorithm based on the principle of minimize the waste to get better results of the matching relationship between the items and the corresponding packing positions in shorter time. Through the algorithm we can get the tours, and identify the clients covered by the vehicles, as well as vehicles in the routes. All the items demanded by the clients need to be loaded in the vehicles with the related constrains. In fact, there are two aspects that packing algorithm needs to consider. One is to determine the next loading item, and another is to determine the feasible loading position. Computational experiments: Twenty of these 2L-CVRP standard instances are selected randomly, and loading surface (L,W) is fixed as (40,20) for all instances. The 20 selected instances are changed to two depots instances to testify the proposed algorithm in this paper by adding a new depot. We calculate the center of the clients, and then select a point between the first depot and the center randomly as the second depot. Results: We compare the improved hybrid algorithm with the known best solutions, and the other is based on the new instances which include multi-depots with time window constrain. We calculate the center of the clients, and then select a point between the first depot and the center randomly as the second depot. The results of the numerical experiments show that the proposed hybrid algorithm has better performances in terms of both the calculation results and computing time comparing with the selected recent literature. The computational results show that the proposed algorithm is effective in finding high quality solutions and the practical recharging option may significantly improve the 2L-CVRP-MDTM which a new variant of the 2L-CVRP considering vehicles start from several different depots with time window constrains. References | Related Articles | Metrics

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The Strategy of Retailer for Logistics Outsourcing base on Logistics Service and Price Competition FU Lei, LIAO Cheng-lin 2017, 25 (7):  78-85.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.009 Abstract ( 2515 )   PDF (1226KB) ( 1268 )   Save Nowadays the logistics outsourcing is the important factor in the competition and revolution of retailer's omni-channel, facing end customers who are sensitive to both retail price and logistics service, we consider the retailer who outsources the logistics to multiple symmetric TPLs who compete on price and service level. The retailer allocates demand to the TPLs using a MNL (Multinominal Logit Model) choice function while the retailer chooses her price and allocation parameter to maximize his profits. Under symmetric information, a game-theoretic framework is applied to obtain the equilibrium solutions for every entity in single-sourcing, dual-sourcing and multisourcing, the comparison of equilibrium price, service level and retailer's profit in different scenarios was presented. An interesting result shows that both the price and service level of TPLs decrease when the retailer outsources demand to more than one TPL, which makes the retailer difficult to determine the outsourcing strategy. We found that the advantage of single-sourcing versus multisourcing depends on the sensitivity of market demand to retail price and logistics service. For maximized her profits, the retailer prefer to single-sourcing when the sensitivity parameter is high, however, when the sensitivity parameter is low, retailer would rather choose dual-sourcing. Furthermore, we studied the impact of the number of TPLs on the retailer's performance in the competitive setting, we found that while service level decreases as the number of TPLs increases, but the equilibrium logistics price does not change. Overall, the retail's profit is decreasing with the number of TPLs, suggesting that the retailer prefer to dual-source instead of multisourcing. In addition, we considered the problem that the retailer decides how to allocate demands between the TPLs in order to foster competition on both logistics price and service, the optimal parameter of allocation function is given for the dual-sourcing and multisoucing. Finally, the numerical simulation shows the effect that market demand sensitivity and the values which weight the logistics service relative to price have on the retailer's profits. These useful conclusions can provide supports for enterprise managers to make decisions. References | Related Articles | Metrics

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Research on Incentive Mechanism of Banks to Logistics Company in Inventory Financing Considering Reputation Effect LI Jian, WANG Ya-jie, WU Jun, YANG Feng-mei 2017, 25 (7):  86-92.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.010 Abstract ( 1463 )   PDF (1225KB) ( 1071 )   Save The logistics company plays an important role in the inventory financing business. The effort level of the logistics company is one of key factors related to the successful operation of inventory financing. In this paper, a principal-agent model that combines explicit incentive mechanism with implicit incentive mechanism is established by considering reputation effects. A comparison between two scenarios considering reputation effect and not considering reputation effect is made. It is found that the effort level, the single stage income of bank, and the incentive coefficient will increase as considering reputation effect.However,the fixed payment to the logistics companiesby the bank will decrease. Furthermore, the logistics company will improve effort level more positively if the bank establishes a long-term relationship withthe logistics company. Finally, the relevant conclusions are verified by a numerical exampleand some recommendations are provided. References | Related Articles | Metrics

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Stability Research for Cooperation Between Farmers and Dealers in China: An Analysis of Marketing Risks Sharing ZHANG De-bin, XU Juan, Paul D. Mitchell, LI Chong-guang 2017, 25 (7):  93-101.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.011 Abstract ( 1051 )   PDF (1318KB) ( 910 )   Save During the research of Chinese vegetable industry and National Science Foundation project of cooperative behaviors between farmers and deals,it is found that for fresh produce industry in some developing nations, there exists a critical problem: Price fluctuates sharply and usually with dealers drop out of the chain letting all the risk to farmers. Different to developed nations, farmers in these developing nations have different risk appetite and constraints. But there is the same thing for all situations, the only reason for any players to drop out is that they don't have or they don't think they have a reasonable benefits (or risk) share. So that in fresh vegetable industry, risk sharing mechanism which could consolidate the cooperation stability between farmers and dealers facing price fluctuations has been discussed. In this paper, firstly the betray behaviors disobeying signed contracts when in a bad marketing, actually lies in the shortage of realistic risk sharing mechanism, or which is unreasonable. It is believed that only rewards when choosing to betray is larger than that of perform, and it could be seen that the simple and rough contract having a fixed lower and upper purchasing price is vulnerable to fail without precise and rational calculations for future rewards. Secondly, based on the stability and Shapley value theory in Cooperative Game, a one dealer and many farmers group is developed into a n-person cooperative game model. The model followed by Sexton(1986) and with more specific description on Chinese farmer risk appetite and constraints which will be much closer to reality than Others. A matlab based analysis has also been done to find the objective function and constraint character. Resolutions for core and weighted Shapley value considering each partner's resources are also discussed. At last, primary influential factors and mechanisms for cooperative stability and weighted Shapley value are discussed, together with practical policy enlightenment ensuring contract stability for both sides. It is found that currently in Chinese vegetable, the most important promotional factor is the risk sharing proportion rather than the introduction of social responsibility, which hints that when facing massive vegetable unmarketable, more efforts should be put on consumers or farmers, least the dealers. This will be beneficial to risk sharing research in farmers especially for fresh produce area. On one side it can be used to analyze risk appetite and price fluctuation in risk sharing from macro level as policy hints; on the other side, it also can be used as a micro analysis tool for specific cooperation on a specific risk sharing calculation. References | Related Articles | Metrics

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Seller's Revenue in Online Temporary Buyout-price Auctions Considering Bidders' Bounded Rationality Behavior GAO Guang-xin, FAN Zhi-ping 2017, 25 (7):  102-112.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.012 Abstract ( 1031 )   PDF (1366KB) ( 968 )   Save With the rapid development of information technology, the online auction has broken the limitation of time and space for traditional auction, and greatly expanded the time and space of auction. Then, more customers would like to sell their goods to obtain revenue through the online auction sites such as "eBay.com". With the innovation of online auction format, the online buyout-price auction, including fixed buyout-price, temporary and permanent buyout-price, has been widely applied in online auction business. In practice, the temporary buyout-price auction is a common format of the online buyout-price auction. From the seller point of view, it is important for him/her to estimate the revenue when using the temporary buyout-price auction to sell goods. At present, in most research of online auction, bidders are assumed to be perfect rationality, but previous research has shown that, in a complex and uncertain environment, bidders usually exhibit bounded rationality behavior and such behavior will have impacts on the seller's revenue. Thus, it is a noteworthy research topic how to conduct the seller's revenue analysis and set the buyout price in the temporary buyout-price auction with consideration of the situation that bidders are bounded rationality. In this paper, we assume that the bidders are bounded rationality. For the baseline study, we first analyze the bidder's optimal strategy in the temporary buyout-price auction under the assumption of perfect rationality, and construct the seller's expected revenue model. Then, the bidding probability-based function for bidders' behavior choice is adopted to characterize the bidders' behavior with bounded rationality. On such base, a seller's expected revenue model is constructed by incorporating the concept of bidder's bounded rationality behavior into the model for consideration. Furthermore, according to the model, the numerical experiments are conducted to investigate the impacts of three factors (buyout price, number of bidders and degree of bounded rationality) on the seller's revenue, and the seller's expected revenue under the assumption of bounded rationality and perfect rationality are analyzed and compared. By the analysis of seller's revenue and the results of the numerical experiments, some important conclusions are obtained, as well as some managerial insights. Moreover, an example is used to illustrate the feasibility and its potential application of the seller's expected revenue model. Through the theoretical analysis, we find that the seller's expected revenue is related to not only the buyout price but also the bidder's bounded rationality behavior, which bridges the gap between the seller's revenue and the bidder's psychological behavior. The seller's revenue with consideration of bidder's bounded rationality behavior is almost more than the one based on the assumption of bidder's perfect rationality. In addition, when the buyout price is low and the number of bidders is large, the seller will obtain more revenue from the temporary buyout-price auction. To effectively estimate seller's revenue from the temporary buyout-price auction, it is necessary to take into account some crucial influence, such as buyout price, number of bidders, degree of bounded rationality, operational cost and auction participation cost. The seller's expected revenue model proposed by this paper provides guidance for analyzing and estimating the seller's revenue in the real online temporary buyout-price auction considering the bidder's bounded rationality behavior. This paper enriches the theory of online auction and can be studied and applied more widely. References | Related Articles | Metrics

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Willingness to Participate in Group Procurement, Pharmaceutical Enterprises' Bargaining Power and Performance of Medicine Market ZHANG Xin-xin, HOU Wen-hua, Shen Cheng-lin, HE Qiang 2017, 25 (7):  113-122.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.013 Abstract ( 1163 )   PDF (1402KB) ( 891 )   Save Based on the present group procurement regulation for medicines, a bilateral bargaining game between two competing pharmaceutical enterprises and one government-oriented procurement platform is proposed to investigate pharmaceutical enterprises' pricing strategies, profit allocation mechanisms between two enterprises and one procurement platform, and key factors influencing pharmaceutical enterprises' willingness to participate in group procurement. The impacts of group procurement regulation on pharmaceutical enterprises' pricing strategies, profits, providers' procurement costs as well as the allocation efficiency of the medicine market are also discussed. The main results are as follows: First, group procurement regulation for medicines will lower prices and the whole procurement costs for medical providers but does not necessarily improve the social welfare. Second, firm's willingness of participation in group procurement increases with its own group procurement efficiency and its rival's bargaining power, and decreases with its rival's group procurement efficiency and its own bargaining power; Third, a firm higher bargaining power does not necessarily gain higher profit. The final profits of firms depend on the combined factors including enterprise's bargaining power, group procurement efficiency, and its rival's bargaining power and group procurement efficiency. Last, group procurement regulation for medicines does not necessarily lead to lower profits for both pharmaceutical enterprises. On some conditions, two enterprises can achieve "Win-Win" under group procurement regulation. In a word, our results provide practical significances for enhancing pharmaceutical firms' willingness to participate in group procurement, promoting the coordination between pharmaceutical firms and the group procure organization, giving full paly to the advantage of group procurement, and improving the allocation efficiency of the medicine market. References | Related Articles | Metrics

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The Decisions of Domestic Brands' Foreignized Advertisements Based on Consumers' Worships and Stereotypes about Everything Foreign XU Shi-kang, LIAO Cheng-lin 2017, 25 (7):  123-133.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.014 Abstract ( 1093 )   PDF (1780KB) ( 953 )   Save Nowadays, imports and goods from joint ventures are flooding Chinese market and have occupied nearly half of it, leaving domestic brands a fierce competition. The fact that so many consumers in China demonstrate worships of foreign goods and have stereotypes about them has made serious effects on sales of domestic goods and become a threat to their growth and development. Thus, false foreign brands emerge with times in this cruel society. It is quite common to see foreign oriented phenomena here and there, however, there are few study and researches on advertisements about them. And the present situation of market and study is in need of related analysis and study to draw more experts' attention. Based on the present situation that consumers have negative attitudes to local brands and aiming at profiting more from foreignization of domestic brands, consumers' stereotypes about foreign goods are set as γi, and foreignized advertisements' effects are as Δα. By building models of the competition between manufacturers' profits and retailers', consumers' stereotypes about foreign goods and decisions of foreignized advertisements on how it can affect expected profits are discussed. To solve the problem of making decisions, considering the supply-chain system composed of single manufacturer and single retailer, three different models of supply-chain's competition for profits are built, answers are found, the wholesale price, the retail price and their profits are compared and best-balanced and sensitive analysis on making models of foreignized advertisements is made. Firstly, according to relations of supply-chain and market's advertisement strategies and based on optimum decision variables of manufacturers and retailers, three models of capability of profits are built: no advertisements, common advertisements and foreignized advertisements; secondly, comparisons and analysis on corresponding index for models of advertisements strategies are made and its function characters are discussed and relevant proposition and certification are got; finally, combining the market's situation, numerical simulation is offered, its validity is proved and consumers' stereotypes about foreign goods and foreignized advertisements' effects on expected profits are analyzed. The results mainly include: manufacturers who choose foreignized advertisements make the highest wholesale price, retail price and their expected profits; those who choose common advertisements take the second place; those without advertisements get the lowest numbers; there exist the only thresholds γi* and Δα* for consumers' stereotypes about foreign goods and foreignized advertisements' effects and they shape the concave function with the whole expected profits from foreignized advertisements and the whole expected profits' monotonicity varies inversely on either side of the thresholds. The results show that: (1) the one with foreignized advertisements makes the most expected profits among the three decisions on advertisements; (2) consumers' stereotypes about foreign goods and the impact factors of foreignized advertisments have great effects on expected profits and they each have corresponding thresholds which can optimize expected profits within a certain confine. All the parameters' relationship and changes of numerical values source from researches on marketing experience, which presents a reasonable proportion and mutual influences of corresponding relations. The validity and applicability of related conclusions are proved. In the context of the fierce markets competition home and abroad, this research can draw management enterprises and experts' attention to consumers' stereotypes about foreign goods, which makes them lay stress on domestic brands' foreignized advertisements and provides them with some managing inspiration and ideas about promoting the competitiveness of domestic brands; meanwhile, for the stereotypes about consumption and the foreignization of selling and marketing, this paper provides a new perspective for other experts to do related researches. References | Related Articles | Metrics

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Electronic Commerce Platform-Joint Supply Chain Financing Mode: Bank Lending VS. Electronic Commercial Platform Lending YU Hui, LI Xi, WANG Ya-wen 2017, 25 (7):  134-140.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.015 Abstract ( 1491 )   PDF (1488KB) ( 1387 )   Save Nowadays, many electronic business platform like Alibaba take part in providing their capital constrained suppliers with financial assistance except to the banks. The objective of this paper is to study which financing mode will benefit both the supplier and the electronic business platform, bank lending or electronic business platform lending. Based on the perspective of supply chain finance, an electronic commercial enterprise and its capital-constrained supplier faced with bank lending or electronic commercial platform lending are described. The supplier can ask the electronic commercial enterprise for financing through its orders as mortgage or lend from the bank. A wholesale price contract model is constructed. The supplier formulates the wholesale price first and the electronic business platform formulates the order quantity in perusing max profit and they game with each other. The optimal financing scheme to both the supplier and the electronic business platform is drawn out. Research shows that lending rate is a vital index that will affect electronic commercial enterprise and the supplier's financing strategies. There are threshold points of their optimal financing choices. Lending from electronic commercial platform between two threshold points will benefit both the supplier and the electronic business platform. Otherwise bank lending will be more beneficial. Electronic commercial platform lending will benefit the supplier and the whole supply chain which it is in, but cannot increase supply chain efficiency. So building up coordination mechanism is still very important. Supplier's private capital and electronic business platform's capital cost can lay on huge effect on the profits of both side. In this paper, different lending modes' influence on the enterprises in a supply chain has been investigated, which can help the electronic business platform and its capital-constrained supplier to make a scientific decision and gives them some management implications. Also, the base of studying optimal decision of the supplier and the electronic business platform is set up under multi-cycle, and which step to take to achieve supply chain coordination. References | Related Articles | Metrics

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Research on Feature Selection Method for Interval Sorting Decision SONG Peng, LIANG Ji-ye, QIAN Yu-hua, LI Chang-hong 2017, 25 (7):  141-152.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.016 Abstract ( 1036 )   PDF (1165KB) ( 1014 )   Save In the field of multiple attributes decision making, sorting decision has become an important kind of issue and been widely concerned in many practical application areas. In the process of making sorting decision,the rational and effective feature selection methods can extract informative and pertinent attributes, and thus improve the efficiency of decision making. From the extant literatures, many valuable researches have been provided for more reasonably solving this problem in the context of diverse data types, such as single value, null value and set value. However, very few studies focus on the sorting decision in term of interval-valued data. The objective of this paper is to provide a new feature selection approach for interval sorting decision by using the interval outranking relation. By integrating rough set model and information entropy theory, a new measurement called complementary condition entropy, which investigates the complementary nature of the relevant sets, is proposed for feature evaluation through analyzing the inherent implication of correlation between considered attributes in the problem of interval sorting decision. Furthermore,on the basis of the difference of the values of complementary condition entropy,the representation of the indispensable attributes and the measurement of attributes importance are presented, and then develop a heuristic feature selection algorithm is proposed for interval sorting decision. Finally, two illustrative applications, namely,the issues of venture investment and portfolio selection, are employed to demonstrate the validity of the proposed method.For the problem of multi-stage venture investment decision, through investigating the competitiveness, development capacity and financial capability of 16 investment projects, the corresponding probabilistic decision rules having better generalization capability, which can be used to determine whether to perform further investment. As to the issue of portfolio selection, 91 stocks coming from Chinese stock market and 9 operating performance indicators of these firms are employed. By using the presented approach in this study, a portfolio which has better investment return can be construeted. Accordingly, the corresponding strategy for building portfolio is useful to quantitative investment decision. In brief, as the important preprocessing tool in the process of decision analysis, the feature selection method built in this paper is of extensive meaning for discovering the key indicators and improving decision performance in the field of sorting decisio References | Related Articles | Metrics

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Multi Criteria Decision Making Based on Efficiency Measurement and Empirical Study: DEA-TOPSIS Integrated Method DU Tao, RAN Lun, LI Jin-lin, CAO Xue-li 2017, 25 (7):  153-162.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.017 Abstract ( 1387 )   PDF (1061KB) ( 955 )   Save In an increasingly competitive environment, decision making and efficiency have become to be the key factors. But in practice, managers usually appear to achieve the purpose of optimizing decision-making with the sacrifice efficiency. This practice is very easy to make managers in the dilemma of care for this and lose that.Therefore, ensuringor even improving efficiency is crucial during the process of optimization of decision making. However, no scholars have combined the data envelopment analysis(DEA) method with the decision method in existing researches, which is in order to solve the problem of optimizing the decision based on the current relative efficiency.From the perspective of multi criteria decision making,based on the current efficiency, the DEA method is firstly combined with technique for order preference by similarity to an ideal solution(TOPSIS) method. The DEA-TOPSIS integrated method can deal with the issue of multi criteria decision making on the base of efficiency assurance.DEA is a non-parametric method that measures therelative efficiencies of organizations, which is with multi inputs and outputs.This method also can calculate the inputs and outputs'slack improvements of ineffective decision making units(DMUs). These slack improvements provide a clear direction and goal for further decision making optimization based on the efficiency. TOPSIS method is widely used in multi criteriadecision making problems.As DEA method, TOPSIS method'sbasic idea is to sort alternatives according to the evaluation of ideal and negative ideal distance between the targets. So it is feasible in theory to integrate the DEA method and TOPSIS method.DEA-TOPSIS integrated method consists of two stages: the first stage is to measure theDMUs'relative efficiencyby DEA, and determine the decision alternatives set according to the efficiency values and decision goals. The second stage is to constructthe decision matrix according to the projections of inefficiency DMUs, then rank the alternatives using TOPSIS method. Taking Capital Medical University for example, the organization is assumed, in order to improve its efficiency, intend to increase the numbers of DEA efficient DMUs. Meanwhile the organization' objective is to minimize the slack improvements (i.e. let the revolution easier) during the efficiency improvement. The 10 class1, Grade 3 general affiliation hospitals as the DMUs, we study the technical efficiency by using the DEA-TOPSIS integrated method. 2008 ~ 2013 is taken as the observation period, and 3 inputs-including the number of employees(person), the purchase of medical equipment gross this year(million yuan) and the number of beds(zhang)-and 1 output-outpatients(person) are selected. The data are derived from the Beijing health Yearbook 2009~2014. The results show that DEA-TOPSIS method can not only rank the alternatives effectively, but also reflect the actual situation by choosing different models or index disposal methods. This research can provide some management ideas and references for similar organizations, such as administrations of hospital,education departments, group corporations, etc. References | Related Articles | Metrics

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Target-oriented Model and Approach for Attribute Value Evaluation with Multiple Reference Points LI Chun-hao, LI Wei, LI Meng-jiao, MA Hui-xin, HE Juan, DING Li-xia, TIAN Bo 2017, 25 (7):  163-175.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.018 Abstract ( 1273 )   PDF (986KB) ( 864 )   Save To overcome the shortage of current normative and descriptive studies of decision-making, i.e., less capability of providing direct comprehensive supports for attribute value evaluation with multiple reference points (MRPs), two concepts including competitive games (CGs) and CG preference scores (CGPSs) are incorporated with the target-oriented utility/value theory (TOUVT), by which a new normative attribute value function based on TOUVT and the game-preference comparison, shorted as NAVF-T-GPC, is thus presented. Based on NAVF-T-GPC and the range-frequency (R-F) model, a prescriptive linear programming (PLP) model as well as its corresponding appraisal approach, considered as a merge of normative decision-making with descriptive decision-making, is built for directly aiding decision makers with MRPs to evaluate attribute values. According to the presented approach, when a specific performance (x) lies in(xr,xr+1), its attribute value is given by ?(x)=[∑rs=1Δ*(xs)p(xs)]/[∑s=1RΔ*(xs)p(xs)], where xs(xr) denotes the sth(rth) reference point or target object in the target attribute interval [xL,xH], s=1,…,R,r=1,…,R-1, Δ*(xs) reflecting the CGPS of xs is determined by the PLP model, and p(xs) represents the occurrence probability of xs. Note that the PLP model embodies such key academic thoughts that the attribute value of performance x(xL≤x≤xH), behaviorally disclosed by the R-F model, is only a linear approximation to that determined by NAVF-T-GPC. Compared with TOUVT, in which the CGPSs of different attribute performances are supposed to be equal, NAVF-T-GPC is more suitable for reasonably reflecting various decision-makers' complex preference structure since unequal CGPSs related with MRPs are permitted. Compared with behavioral decision-making theories such as the R-F theory/model, which can not be directly applied to real-world decisions because of its descriptive nature, the presented approach is capable of directly aiding decision makers with MRPs. Besides, the approach is built from a new viewpoint of taking the decision goal as a variable directly affecting alternative evaluation and alternative selection, and thus of importance to develop the multiple attribute decision-making theory. Simulation analysis and application comparison show that the presented approach can be widely applied to real-world decisions and has advantages in reasonably evaluating attribute values over the current subjective method based on equally-spaced value judgments. References | Related Articles | Metrics

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Information Integratedmethod in Enterprise-Department Performance Appraisal Based on Network Organization YU Shun-kun, YANG Wen-yin 2017, 25 (7):  176-183.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.019 Abstract ( 1084 )   PDF (1419KB) ( 1080 )   Save To problems with hierarchical and one-size-fits-all appraisal way, disconnect between evaluation subject and operational management subject, fuzzy appraisal content and its lack of traction in enterprise-department performance appraisal, an enterprise-department performance management network ("lead-undertake-cooperate" network) is proposed in this article, which clarifies the relationship between subject and object and straightens the hierarchy and content of performance management and evaluation. Based on that, the enterprise-department performance appraisal information integrated framework is built and its algorithm is given. By transforming subjective and objective information into the fuzzy set over the basic grade evaluation set, the information of different levels in the vertical and the information of different types in the horizontal can be integrated, thus the priority sequence of departments can be solved. The methods proposed have been tested in many practice and can provide a new research insight to implement performance management and appraisal and actualize the synergistic effect within enterprises. References | Related Articles | Metrics

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Comprehensive Evaluation of Chinese Provincial Ecological Civilization Coordinated Development Degree CHAI Qi-chen, GUO Ya-jun, GONG Cheng-ju, LI Wei-wei 2017, 25 (7):  184-190.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.020 Abstract ( 1078 )   PDF (985KB) ( 1254 )   Save In recent years, China puts ecological civilization construction as a national development of the layout, which shows that the CPC Central Committee attachs more importance to the construction of ecological civilization. Ecological civilization construction evaluation is one of the key links. At present, ecological development in China is seriously lagging behind the economic and social development. In view of this problem, an evaluation model is put forward to measure coordinated development degree of the three subsystems of economy, society and nature,in order to promote the development of economic, social and natural keep in harmony. The healthy development of ecological civilization both needs a high level of comprehensive development and a high degree of coordinated development. In this paper, the optimal index is built to measure the comprehensive development level of each province, and the uniform index is built to measure the coordinated development degree of each province. Firstly, index system is constructed from the angle of the three subsystems which is the economic, social and natural system respectively. Secondly, in the subsystem, the weight of each index and the comprehensive evaluation value of each subsystem are calculated by order relation analysis method and arithmetic weighted average operator. Thirdly,the optimal index is constructed by calculating the mean distance between the comprehensive evaluation value and its minimum value of every province. The uniform index is constructed by calculating the logarithm of the distance between the three subsystems' evaluation values and their mean value. Finally,according to the statistical data of China Statistical Yearbook, China Statistical Digest and China Environmental Statistical Yearbook, using above-mentioned evaluation model, the coordinated development degree of ecological civilization construction of 31 provinces in China is evaluated. The evaluation results show that the development level of the three subsystems of every province is in a state of unbalanced development, and the optimal degree index is negatively correlated with the degree of consistency index. The results also show that there is a certain relationship between the level of ecological civilization development and geographical distribution in China, and it is necessary to take different measures according to the characteristics of different regions. Ecological civilization construction coordination level evaluation is a very complex question, and many factors need to be considered. However, the most important thing is to grasp the definition of the ecological civilization coordinated development. Considering the coordination level of ecological civilization construction from three subsystems of economy, society and nature, it not only requires the development level of the subsystems to be synchronized,but also requires the development of every subsystem should continue to improve. Therefore, the optimal index and uniform index are construeted to reflect the coordination level of ecological civilization construction. The method can also be applied to other subsystems. At the same time, the order relation analysis method is used to determine the weight of indexes in each subsystem, can express the experts' opinion simply and accurately. In addition, the evaluation method of statistical index analysis is advanced and flexible, in which the evaluation index system can be constructed, weight can be determined and information aggregation model can be chosen. References | Related Articles | Metrics

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Ranking of Interval Efficiencies Based on New Computational Method for Cross Efficiency CHENG Da-jian, XUE Sheng-jia 2017, 25 (7):  191-196.  doi: 10.16381/j.cnki.issn1003-207x.2017.07.021 Abstract ( 1094 )   PDF (944KB) ( 1023 )   Save A traditional CCR model of data envelopment analysis (DEA) is to evaluate decision-making units (DMUs) optimistically in self-appraisal method. The maximum of relative ratio of weighted sum of outputs to that of inputs is regarded as the relative efficiency of a DMU. However, since all possible ratios of weighted sum of outputs to that of inputs can be assumed as possible efficiencies, the efficiencies of DMUs can be measured within the range of an interval. On applying cross-efficiency method, interval efficiencies of DMUs can be constructed based on CCR model. A factor that possibly reduces the usefulness of original cross-efficiency evaluation method is that cross-efficiency scores may not be unique due to the presence of alternate optima in CCR model. To solve the problem, a two-phased approach is adopted in cross-efficiency evaluation. With respect to the shortcoming of need to solve many additionally auxiliary linear programming problems that is due to non-uniqueness of cross efficiency score in cross efficiency evaluation method, this paper proposes a new computational method to obtain interval efficiencies by means of finding multiple basic optimal solutions of the traditional DEA linear programming model. Thus, the amount of computational work is greatly decreased. The above is the first issue of this article. The second issue in the paper is the problem of ranking of interval efficiencies for DMUs. The maximum efficiency of a DMU in CCR model is regarded as its upper bound of interval efficiency. On the condition of keeping the maximum efficiencies of other DMUs, cross efficiencies of a rated DMU is minimized and the minimum of all minimum cross efficiencies of a rated DMU is regarded as its lower bound of efficiency interval. At the same time, because the attitude to risk of most decision-makers lies between pessimism and optimism, a ranking method for interval efficiencies of DMUs, which can consider decision-makers' levels of optimism, is constructed by Hurwicz decision criterion, and a stability analysis of interval efficiencies ranking to optimistic coefficient is conducted in this article. Finally, a computational example is also given to illustrate the effectiveness of the method. Since CCR model under the condition of constant returns to scale can not divide overall efficiency of a DMU into technical efficiency and scale efficiency, the analysis of the paper can be applied to evaluation of overall efficiencies of DMUs when inputs and outputs are precise data and decision-makers' risk preferences need to be taken into consideration. References | Related Articles | Metrics