ISSN 0253-2778

CN 34-1054/N

2023 Vol. 53, No. 8

Display Method:
2023-8 Contents
2023, 53(8): 1-2.
2023-8 Abstract
2023, 53(8): 1-2.
Supply chain optimization considering consumers’ mental accounting by time dimension in advance selling
Yining Nan, Yuan Chen, Tengfei Nie, Shaofu Du
2023, 53(8): 0801. doi: 10.52396/JUSTC-2023-0007
Advance selling activities based on e-commerce platforms have received much attention from consumers, which is a two-stage sales mode. However, many consumers have indicated that they are relatively happy to pay a deposit and feel more burdened at the final payment stage. That is, consumers feel differently at the two moments even though they know they will pay the same total amount for the product. This psychological behavior can be explained by mental accounting, which means the cognitive-computational process by which individuals or households code, evaluate, and record financial behavior. With the use of advance selling, this research has developed a game theoretical model to investigate how consumers’ mental accounting affects the optimal pricing and ordering decisions of supply chain members under wholesale price and revenue sharing contracts. The analysis shows that under wholesale price contracts, regardless of the optimal wholesale price set by the supplier, a portion of consumers will forgo the deposit paid, and the optimal order quantity for the retailer will always be equal to the consumers’ demand at the final payment stage. In exceptional cases, the optimal wholesale price may be equivalent to the retail price. The supplier’s optimal wholesale price increases monotonically with the consumer’s time coefficient for the price and decreases monotonically with the consumer’s time coefficient for product valuation. Furthermore, under a revenue sharing contract, there is a situation where the supplier’s optimal wholesale price is equal to cost. Additionally, a supplier’s optimal wholesale price exists such that none of the consumers will forgo the deposit they have paid. The study contributes to the understanding of mental accounting in advance selling and has implications for supply chain contract design.
The influence mechanism of green advertising on consumers’ intention to purchase energy-saving products: Based on the S-O-R model
Liru Li, Biao Luo, Ying Sun, Fenfen Zhu
2023, 53(8): 0802. doi: 10.52396/JUSTC-2021-0015
Energy consumption leads to an energy crisis and environmental problems. Energy-saving consumption is of great significance to reduce energy consumption. Based on the stimulus-organism-response (S-O-R) framework, this research introduces perceived value and positive emotion and constructs a model in which green advertising affects consumers’ energy-saving consumption. Meanwhile, based on congruity theory, this research explores the influence of self-image congruity. A field study was adopted, and a total of 413 questionnaires were collected. The results show that green advertising receptivity positively affects perceived value, positive emotion, and purchase intention. Self-image congruity moderates the relationship between green advertising receptivity and perceived value, but it has no moderating effect on the relationship between green advertising receptivity and positive emotion. On this basis, the contributions of this research and further research prospects are discussed.
How can ESG funds improve their performance? Based on the DEA-Malmquist productivity index and fsQCA method
Qiong Xia, Yixiao Liu, Fangqing Wei
2023, 53(8): 0803. doi: 10.52396/JUSTC-2023-0017
In China, ESG funds are still in the early stage of development, and how to improve their performance level has become an urgent problem. Based on 26 ESG funds in 2018–2021, we use the DEA-Malmquist productivity index method to evaluate the performance of ESG funds at two levels, static and dynamic, and apply the fsQCA approach to explore the performance improvement path of ESG funds. Overall, ESG funds perform well, but there are significant differences among them. The total factor productivity of ESG funds shows a decreasing trend during the study period. There are three paths to improve the performance of ESG funds. The 1st path is to maintain a low concentration of holdings and reduce the frequency of fund position adjustments based on increasing fund size. The 2nd path is to diversify into stocks with high ESG scores based on increasing fund size. The 3rd path is to hold stocks with high ESG scores for a long time based on increasing fund size. Concerning the results of the empirical analysis, it proposes to improve the ESG rating system, broaden the market scale of ESG funds at a steady gait, and gradually optimize fund managers’ investment strategies.
Reaction mechanism of investors of new energy vehicle enterprises to China’s program of retrogressive subsidies in the context of COVID-19 pandemic: Based on the event study method
Zhi Li, Yundong Xie
2023, 53(8): 0804. doi: 10.52396/JUSTC-2022-0042
In recent years, the subsidy policy of new energy vehicles (NEVs) has promoted the vigorous development of China’s NEV industry. In the past, scholars tended to focus on consumers’ reactions to subsidy policies for NEVs, while attention to the reaction of investors is relatively scarce, especially in the context of major public emergencies. Based on the event study method, this study empirically tested the reaction mode of investors of NEV enterprises to China’s program of retrogressive subsidies (PRS) in the context of COVID-19 pandemic and discussed the differences in investors’ reactions under different enterprise attributes (i.e., whether listed on the Shanghai Stock Exchange, whether located in a first-tier city, whether belonging to state-owned enterprises, and whether belonging to the upstream NEV industry). Our research results provide a reference for the strategic management practices of NEV enterprises and their investors.
Optimizing convergence for dual-credit policy and carbon trading in the automobile sector: A bi-layer planning model
Haonan He, Jiaxin Sun, Chaojia Zhang, Jie Zhao, Shanyong Wang
2023, 53(8): 0805. doi: 10.52396/JUSTC-2023-0038
A growing call has been made to convert the dual-credit policy to carbon trading to further unleash the carbon reduction potential of the automobile sector as China’s dual-carbon strategy progresses. However, controversy exists in academia about the convergence timing of the two policies. Therefore, this paper builds a bi-layer planning model to show the interaction between government policies and automakers’ production and R&D decisions, based on which to explore the optimal decision on carbon trading’s introduction timing and carbon quotas. The results show that the current is not the optimal time to bridge the two policies considering the price difference between carbon pricing and credits. Interestingly, we find that the reduction in carbon emissions per vehicle for new energy vehicles and conventional fuel vehicles has an opposite effect on the optimal timing of the introduction of carbon trading. Moreover, a comparison of the impact of new energy vehicle profits and carbon prices on the timing of introduction shows the former has a greater impact on the adoption of carbon trading in the automobile sector.
Optimal environment design and revenue allocation: Under cap-and-trade policy in the cooperation supply chain
Yuting Wei, Xue Yuan, Yu Dong
2023, 53(8): 0806. doi: 10.52396/JUSTC-2022-0093
Since the supply chains of the world’s 2500 largest companies alone emit more than 20% of global greenhouse gases, how to achieve optimal cooperative supply chain emission reduction effects in supply chain optimal emission reduction efforts and effectively distribute revenue in cooperative supply chains is a difficult complex problem. In this paper, a green supply chain model of joint production is constructed based on the framework of the Stackelberg model and with carbon trading under three quota methods being taken into account. First, from the perspective of a supply chain leader, we obtain the optimal efforts to reduce emissions, the optimal price, and the yield of the products. Then, from the perspective of carbon market regulators, we obtain the environment that is most conducive to reducing emissions in the supply chain. Finally, we offer a profit distribution method based on the modified Shapley value, which maximizes fairness and stability. The data calculation example analysis further verifies the results of the theoretical analysis.