IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v15y2023i4p3084-d1061780.html
   My bibliography  Save this article

Three-Party Stochastic Evolutionary Game Analysis of Supply Chain Finance Based on Blockchain Technology

Author

Listed:
  • Qingfeng Zhu

    (Shandong Key Laboratory of Blockchain Finance, School of Statistics and Mathematics, Shandong University of Finance and Economics, Jinan 250014, China)

  • Rui Zong

    (School of Statistics and Mathematics, Shandong University of Finance and Economics, Jinan 250014, China)

  • Mengqi Xu

    (School of Statistics and Mathematics, Shandong University of Finance and Economics, Jinan 250014, China)

Abstract

In the process of accounts receivable financing under supply chain finance, the phenomenon of accounts receivable forgery and default have caused great pressure on the supervision of financial institutions. We consider the integration of blockchain technology with a supply chain finance platform around the fraudulent default phenomenon in supply chain finance receivables financing and construct a three-party stochastic evolutionary game model among financial institutions, core enterprises, and Micro, Small, and Medium Enterprises (MSMEs). Firstly, we use I t o ^ ’s stochastic differential equation theory to analyze the conditions for the stability of the behavior of game subjects. Secondly, we use numerical simulations to quantitatively analyze the impact of the regulatory strength of financial institutions, the information sharing of the blockchain platform, and the change of incentive parameters on the strategy choice of game subjects. Through the above analysis, we conclude that the information-sharing incentive coefficient promotes financial institutions to choose to connect to the blockchain platform, and the information-sharing risk coefficient and the regulatory intensity have the opposite effect on the blockchain platform construction. Meanwhile, the allocation of incentive shares has a significant influence on the core enterprises. Finally, we give priorities and directions for adjusting the relevant parameters to provide recommendations for financial institutions to regulate the financing process more effectively.

Suggested Citation

  • Qingfeng Zhu & Rui Zong & Mengqi Xu, 2023. "Three-Party Stochastic Evolutionary Game Analysis of Supply Chain Finance Based on Blockchain Technology," Sustainability, MDPI, vol. 15(4), pages 1-20, February.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:4:p:3084-:d:1061780
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/15/4/3084/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/15/4/3084/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Clint O. Hurley, 2018. "MSME competitiveness in small island economies: a comparative systematic review of the literature from the past 24 years," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 30(9-10), pages 1027-1068, October.
    2. Guillen, Gonzalo & Badell, Mariana & Puigjaner, Luis, 2007. "A holistic framework for short-term supply chain management integrating production and corporate financial planning," International Journal of Production Economics, Elsevier, vol. 106(1), pages 288-306, March.
    3. Sara Saberi & Mahtab Kouhizadeh & Joseph Sarkis & Lejia Shen, 2019. "Blockchain technology and its relationships to sustainable supply chain management," International Journal of Production Research, Taylor & Francis Journals, vol. 57(7), pages 2117-2135, April.
    4. Aichih (Jasmine) Chang & Nesreen El-Rayes & Jim Shi, 2022. "Blockchain Technology for Supply Chain Management: A Comprehensive Review," FinTech, MDPI, vol. 1(2), pages 1-15, June.
    5. Valentina Gatteschi & Fabrizio Lamberti & Claudio Demartini & Chiara Pranteda & Víctor Santamaría, 2018. "Blockchain and Smart Contracts for Insurance: Is the Technology Mature Enough?," Future Internet, MDPI, vol. 10(2), pages 1-16, February.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Shenghua Wang & Mengjie Zhou & Sunan Xiang, 2024. "Blockchain-Enabled Utility Optimization for Supply Chain Finance: An Evolutionary Game and Smart Contract Based Approach," Mathematics, MDPI, vol. 12(8), pages 1-19, April.
    2. Lingling Xu & Tingting Tian, 2024. "Blockchain-enabled enterprise bleaching green regulation banking evolution game analysis," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(11), pages 27457-27483, November.
    3. Zhang, Peiwen & Ding, Rui, 2023. "How to achieve carbon abatement in aviation with hybrid mechanism? A stochastic evolutionary game model," Energy, Elsevier, vol. 285(C).

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sachin Kumar Mangla & Yiğit Kazançoğlu & Abdullah Yıldızbaşı & Cihat Öztürk & Ahmet Çalık, 2022. "A conceptual framework for blockchain‐based sustainable supply chain and evaluating implementation barriers: A case of the tea supply chain," Business Strategy and the Environment, Wiley Blackwell, vol. 31(8), pages 3693-3716, December.
    2. Cerchione, Roberto & Centobelli, Piera & Riccio, Emanuela & Abbate, Stefano & Oropallo, Eugenio, 2023. "Blockchain’s coming to hospital to digitalize healthcare services: Designing a distributed electronic health record ecosystem," Technovation, Elsevier, vol. 120(C).
    3. Giuliano Sansone & Flavio Santalucia & Davide Viglialoro & Paolo Landoni, 2023. "Blockchain for social good and stakeholder engagement: Evidence from a case study," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(5), pages 2182-2193, September.
    4. Atul Kumar Singh & V. R. Prasath Kumar & Muhammad Irfan & Saeed Reza Mohandes & Usama Awan, 2023. "Revealing the Barriers of Blockchain Technology for Supply Chain Transparency and Sustainability in the Construction Industry: An Application of Pythagorean FAHP Methods," Sustainability, MDPI, vol. 15(13), pages 1-27, July.
    5. Samir Yerpude & Kiran Sood & Simon Grima, 2022. "Blockchain-Augmented Digital Supply Chain Management: A Way to Sustainable Business," JRFM, MDPI, vol. 16(1), pages 1-17, December.
    6. Vincenzo Varriale & Antonello Cammarano & Francesca Michelino & Mauro Caputo, 2021. "Sustainable Supply Chains with Blockchain, IoT and RFID: A Simulation on Order Management," Sustainability, MDPI, vol. 13(11), pages 1-23, June.
    7. Wang, Binni & Wang, Pong & Tu, Yiliu, 2021. "Customer satisfaction service match and service quality-based blockchain cloud manufacturing," International Journal of Production Economics, Elsevier, vol. 240(C).
    8. Rafael Martínez-Peláez & Alberto Ochoa-Brust & Solange Rivera & Vanessa G. Félix & Rodolfo Ostos & Héctor Brito & Ramón A. Félix & Luis J. Mena, 2023. "Role of Digital Transformation for Achieving Sustainability: Mediated Role of Stakeholders, Key Capabilities, and Technology," Sustainability, MDPI, vol. 15(14), pages 1-27, July.
    9. Ulpan Tokkozhina & Ana Lucia Martins & Joao C. Ferreira, 2023. "Multi-tier supply chain behavior with blockchain technology: evidence from a frozen fish supply chain," Operations Management Research, Springer, vol. 16(3), pages 1562-1576, September.
    10. Su, Dan & Zhang, Lijun & Peng, Hua & Saeidi, Parvaneh & Tirkolaee, Erfan Babaee, 2023. "Technical challenges of blockchain technology for sustainable manufacturing paradigm in Industry 4.0 era using a fuzzy decision support system," Technological Forecasting and Social Change, Elsevier, vol. 188(C).
    11. Maurizio Massaro & Francesca Dal Mas & Charbel Jose Chiappetta Jabbour & Carlo Bagnoli, 2020. "Crypto‐economy and new sustainable business models: Reflections and projections using a case study analysis," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 27(5), pages 2150-2160, September.
    12. Yuemei Ding & Dequan Zheng & Xiaoyu Niu, 2023. "Collaborative Green Innovation of Livestock Product Three-Level Supply Chain Traceability System: A Value Co-Creation Perspective," Sustainability, MDPI, vol. 16(1), pages 1-28, December.
    13. Liu Jiaguo & Zhang Huimin & Zhao Huida, 2021. "Blockchain Technology Investment and Sharing Strategy of Port Supply Chain Under Competitive Environment," Journal of Systems Science and Information, De Gruyter, vol. 9(3), pages 280-309, June.
    14. Giuseppe Varavallo & Giuseppe Caragnano & Fabrizio Bertone & Luca Vernetti-Prot & Olivier Terzo, 2022. "Traceability Platform Based on Green Blockchain: An Application Case Study in Dairy Supply Chain," Sustainability, MDPI, vol. 14(6), pages 1-14, March.
    15. Wang, Jiaxin & Zhao, Mu & Huang, Xiang & Song, Zilong & Sun, Di, 2024. "Supply chain diffusion mechanisms for AI applications: A perspective on audit pricing," International Review of Financial Analysis, Elsevier, vol. 93(C).
    16. Alexander Kalita & Alexander Chepurenko, 2020. "Competitiveness of Small and Medium Businesses and Competitive Pressure in the Manufacturing Industry," Foresight and STI Governance (Foresight-Russia till No. 3/2015), National Research University Higher School of Economics, vol. 14(2), pages 36-50.
    17. Büttgen, Marion & al.,, 2021. "Blockchain in Service Management and Service Research - Developing a Research Agenda and Managerial Implications," SMR - Journal of Service Management Research, Nomos Verlagsgesellschaft mbH & Co. KG, vol. 5(2), pages 71-102.
    18. Wang, Chengfu & Chen, Xiangfeng & Xu, Xun & Jin, Wei, 2023. "Financing and operating strategies for blockchain technology-driven accounts receivable chains," European Journal of Operational Research, Elsevier, vol. 304(3), pages 1279-1295.
    19. Mansoureh Beheshti Nejad & Seyed Mahmoud Zanjirchi & Seyed Mojtaba Hosseini Bamakan & Negar Jalilian, 2024. "Blockchain Adoption in Operations Management: A Systematic Literature Review of 14 Years of Research," Annals of Data Science, Springer, vol. 11(4), pages 1361-1389, August.
    20. Davies, Jennifer & Sharifi, Hossein & Lyons, Andrew & Forster, Rick & Elsayed, Omar Khaled Shokry Mohamed, 2024. "Non-fungible tokens: The missing ingredient for sustainable supply chains in the metaverse age?," Transportation Research Part E: Logistics and Transportation Review, Elsevier, vol. 182(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:15:y:2023:i:4:p:3084-:d:1061780. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.