Research On Low Carbon Supply Chain Optimization And Coordination With Equity Investment Between Vertically Related Firms

Under the unified carbon trading market,more than 10,000 enterprises in the eight major industries,including steel,electricity,and chemical engineering,will be included in the unified carbon trading system,which will further promote the carbon emission reduction activities of enterprises.However,enterprises need to put into practice emission reduction costs,resulting in increased costs,which to some extent reduce the enthusiasm of enterprises(especially small and medium enterprises)to reduce emissions.At the same time,enterprises make their own profits by investing in reducing emissions,but the resulting spillover effect also increases the profits of other enterprises in the chain,resulting in "free riding".In addition,there is a lack of trust between enterprises and users,which leads to the existence of certain opportunistic behavior in the transaction.In view of the above research background,this paper mainly studies three core issues of supply chain enterprises' emission reduction:(1)How can an enterprise accomplish its carbon emission reduction task effectively? Is there a similar way for large-scale manufacturing enterprises with sufficient funds and strong R & D capability to complete their emission reduction tasks with small and medium-sized enterprises?(2)How to solve the problems of high carbon emission reduction cost,"free riding phenomenon" and mistrust between enterprises and users?(3)If the above problems are solved,will supply chain performance be improved as well? If there is any improvement,can we reach supply chain coordination? How can we coordinate?Due to the different emission reduction capacity of different manufacturing enterprises,enterprises can choose to reduce their emissions through themselves or Energy Service Companies according to their own abatement abilities.Therefore,this paper takes the manufacturer's own emission reduction capacity judgment and the choice of emission reduction(two options including emission reduction by manufacturers and energy saving service companies)as the main line of study,and put the vertical shareholding strategy among enterprises into the low carbon supply chain to study the above three core issues.First,under the carbon trading policy and the low carbon preference of consumers,considering the two echelon supply chain composed of a single manufacturer and a single retailer,the paper analyzed the carbon emission reduction capacity of the manufacturer and gave the critical conditions for its self emission reduction.Then,the influence of carbon trading policy on the emission reduction behavior of the manufacturer was analyzed,and the numerical experiments were carried out.Second,for the manufacturers with emission reduction capacity,we consider a two-echelon supply chain consisting of a manufacturer who products low carbon products and a retailer who sells low carbon products.And then,the model that the retailer holds equity in the manufacturer was built and the results were compared with non-shareholding.We found that the equity holding strategy between low-carbon supply chain members can help achieve not only emission reduction and the increasing demand,but also Pareto improvement for the supply chain members with a certain equity shares.At the same time,the cooperative game theory was used to analyze the sufficient conditions for the formation of equity cooperation between the two firms.Then,the influences of carbon trading policy on different carbon emission enterprises were analyzed.Furthermore,the coordination problem of supply chain was studied,and the supply chain coordination was realized by Shapley value method.Finally,numerical analysis was carried out on the main conclusions.Subsequently,for manufacturers without emission reduction capacity,a three level low carbon supply chain system consisting of an energy efficient service company,a manufacturer and a retailer is considered.And the model of the manufacturer holds equity in Energy Service Company(ESCO)was built and the results were compared with non shareholding.It was found that strategy can significantly improve supply chain performance.At the same time,the cooperative game theory was used to analyze the sufficient conditions for the formation of equity cooperation between the three firms.Subsequently,the relevant factors that affect the carbon emission reductions of Energy Service Company were analyzed.Furthermore,the supply chain coordination problem was also studied.Finally,numerical analysis was carried out on the main conclusions.In addition,the paper also constructs the model of the retailer and manufacturer to hold the energy saving service company and carries out the correlation analysis with the manufacturer's individual shareholding.Subsequently,this paper extends the model to the contract of reducing emissions guarantee to analyze the influence of shareholding strategy on decision-making behavior and profit of supply chain enterprises.The main contributions are as follows:(1)In this paper,the emission reduction capacity of the manufacturer is analyzed for the first time,and the energy service company involved in the emission reduction into the low carbon supply chain is studied,which enriches the theory of supply chain research.(2)This paper innovatively integrates the equity cooperation into the low-carbon supply chain for study and analysis,which expands the research on the low-carbon supply chain that has the equity relationship,enriches and develops the low carbon supply chain management theory.