Comparative Research On Internal And External Financing Modes Of Green Supply Chain Based On 3PL Enterprise Subsidy Strategy

In recent years,the prosperity of the world economy has led to increasingly prominent environmental problems,prompting governments to formulate sustainable development strategies and introduce relevant regulations.In China’s2021 government report,"carbon neutrality" and "carbon peak" appeared for the first time.Slowing down the pace of carbon emissions,advocating a green,lowcarbon and environmentally friendly lifestyle,and enhancing the competitiveness of industries and economies have become new social development goals.With the increase of green environmental protection publicity,consumers’ demand for green products is increasing,giving birth to the concept of green supply chain.How to ensure adequate funding for green supply chains has received strong attention.At the same time,warehousing and logistics enterprises play an important role in the global supply chain competition,in the development of supply chain finance,warehousing and logistics enterprises have not only assumed the role of transportation and warehousing,but also evolved into a diversified role covering third-party logistics(3PL),fourth-party logistics and even capital suppliers.Based on this background,this article takes 3PL enterprises as the main funding provider,and considers a green supply chain finance model with a single retailer and a single 3PL enterprise as the main body.Firstly,analyze the conditions for conducting business under the internal financing of 3PL enterprises and the introduction of external financing models.Further expand to explore green supply chain financing models under pull and push production methods,and conduct horizontal comparative analysis on non emission reduction and non subsidy strategies,internal financing emission reduction subsidy strategies,and external financing emission reduction subsidy strategies.Analyze the strategic differences between warehousing and logistics enterprises under two production methods by assuming consistent order quantities.Finally,numerical analysis was conducted on the Mathmatica12.0 platform to validate the relevant conclusions in the model.Research has found that when warehousing and logistics enterprises develop green supply chain finance strategies,the overall interest rate range is positively affected by the carbon subsidy coefficient,and the upper limit of feasible interest rates is positively correlated with the return on funds of retailers.The lower limit of interest rates in internal financing models with low default probability of retailers will decrease with the increase of retailer’s capital demand.The lower limit of interest rates in the introduction of external financing models is negatively correlated with the self owned funds of logistics enterprises.Secondly,under the condition that the optimal solution of the pull production model exists,if the internal financing strategy of no emission reduction or subsidy is implemented,the optimal financing interest rate,product sales price,and retailer’s initial capital are negatively correlated.When adopting an internal financing and emission reduction subsidy strategy,if the retailer’s initial funds are less than the threshold,they will increase the order quantity on the basis of the non emission reduction and non subsidy strategy.After the introduction of external financing,compared to the internal financing emission reduction subsidy strategy,the order volume of retailers and the emission reduction requirements of warehousing and logistics enterprises will be reduced.In the context of a relatively sluggish consumer market for green products,warehousing and logistics enterprises will increase financing rates,and retailers will correspondingly increase product sales prices.In addition,the analysis of the push production model shows that if only through internal financing,the emission reduction subsidy strategy will make retailers tend to order more products,and warehousing and logistics companies will increase their financing rates.When the carbon tax rate increases,the order volume of all three model retailers will decrease;If the carbon subsidy ratio is less than 50%,there is a negative correlation between the internal financing emission reduction financing interest rate and the carbon tax rate,and vice versa,there is a positive correlation.Finally,by analyzing the strategic differences between warehousing and logistics enterprises under two production methods,it was found that when the deterministic market demand is not easily affected by price changes and retailers are short of funds,whether it is an internal financing model or the introduction of external financing models,the financing interest rates set by warehousing and logistics enterprises under pull production mode will be higher than those under push production mode.