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In our study we apply the principal-agent model to study credit contract proposed by banks to motivate third-party logistics firms (TPL) and consider supervision as an important variable. Our results indicate that when supervision is introduced into contract, TPL can be motivated to work more efficiently. In particular, we give bank' efficient supervision set and bank can be better off by keeping...
Most of existing revenue sharing contract models are based on expected utility theory which is a pure rational method and assumed that all decision makers are risk-neutral or loss-neutral. The paper develops a revenue sharing contract model based on prospect theory in which decision makers in the supply chain are all loss-averse. The best order quantity of retailer, effects of retailer's loss-aversion...
The game option, which is also called as the Israel option, is an American option with callable features. The option holder can exercise the option at any time up to maturity. This article studies the pricing behaviors of the look back game option where the payoff of the option depends on the maximum or minimum over the asset price movement path (i.e., the game option with the look back feature)....
Mobile payment brings much convenience for people's daily life and also brings hidden trouble of safety, such as personal information being lost and unauthorized payment appearing occasionally, which not only makes the consumer's information security and financial security damaged, but also is not helpful to the healthy and sustainable development of mobile payment. This paper has an analysis on the...
In this paper, a model of supply chain partnership based on relational contract was established and the conditions for the self-enforceability of supply chain partnership were given. An analysis was particularly made to reveal the impacts of asset specificity on the self-enforceability, finding that supply chain partnership is most suitable for the situation with moderate degree of asset specificity...
This paper analyzes the legal risks of electronic bill of lading's title effect and transfer. The CMI model and BOLERO model of the electronic bill of lading's title transfer are compared to analyze these two models' advantages and disadvantages to the EBL's related parties. Besides, the applicable conditions are proposed for these two kinds of title transfer models.
This paper analyzes the evolution of transaction and risk control mechanism by third-party guarantee in international trade and points out that the risk control in international E-commerce was an innovation to traditional mechanism. Furthermore, this paper anticipates the new ways and forms of third-party guarantee in international E-commerce.
With the rapid development of information technology, E-Business system has gradually become an effective means for enterprises to raise their management efficiency, save office resources, and achieve reasonable resource allocation. The traditional contract management mechanism for most enterprises is completed by manual processing, thus, the official business efficiency is very low and the waste...
Entrepreneur is the soul of entrepreneurial activity, and is a core issue of entrepreneurship research. Most of the existing literature investigate "who is the dominant entrepreneur" issue from the individual characteristics and natural resources perspective. This paper is based on the enterprise contractual arrangements perspective, reviews and comparatively analyzes the """"capital...
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