Agricultural enterprises play a significant role in China’s economic development. However, compared with other enterprises, agricultural enterprises are facing serious financial problems. Financing difficulty is essentially a question of financing efficiency. Based on the DEA method, this paper evaluates the financing efficiency of 39 agricultural listed companies in China from 2013 to 2017. The results suggest that the financing efficiency is generally low, and the Total Factor Productivity of agricultural enterprises’ financing has a tendency to decrease first and then increase. The influencing factors of financing efficiency are analyzed using the Tobit regression model and the random forest regression model. And we find the following: (1) The random forest regression model significantly outperformed the Tobit regression model, with determination coefficients (R2) greater than 0.9 in full sample sets. (2) Total liability, financial expenses, return on total assets, and inventory turnover rate are important factors affecting financing efficiency of agricultural listed companies. (3) Return on total assets and inventory turnover rate promote the financing efficiency, while total liability and financial expenses reduce financing efficiency. Finally, the paper makes some suggestions for the financing of agricultural enterprises.
In this paper, we study a supply chain system which consists of one manufacturer and two retailers including a traditional retailer and an online retailer. In order to gain a larger market share, the retailers often take the sales as a decision-making variable in the competition game. We devote ourselves to analyze the bullwhip effect in the supply chain with sales game and consumer returns via the theory of entropy and complexity and take the delayed feedback control method to control the system’s chaotic state. The impact of a statutory 7-day no reason for return policy for online retailers is also investigated. The bounded rational expectation is adopt to forecast the future demand in the sales game system with weak noise. Our results show that high return rates will hurt the profits of both the retailers and the adjustment speed of the bounded rational sales expectation has an important impact on the bullwhip effect. There is a stable area for retailers where the bullwhip effect doesn’t appear. The supply chain system suffers a great bullwhip effect in the quasi-periodic state and the quasi-chaotic state. The purpose of chaos control on the sales game can be achieved and the bullwhip effect would be effectively mitigated by using the delayed feedback control method.
3 August 2021 in Discrete Dynamics in Nature and Society
Nowadays, with a great number of household electrical appliances being discarded in every corner of the world every day, household electrical appliances recycling is attracting more attention. In this paper, we build a closed-loop supply chain that consists of a manufacturer and a third-party recycler based on the development of “Internet Plus” recovery platform. We thoroughly analyze the model and its evolution by chaos theory, complex dynamics theory, and numerical simulation and introduce the adaptive method to control the chaos of the system. We find that as the manufacturer increases the retail price, the stable area of the market becomes smaller. At the same time, when the manufacturers direct recycle price or the price adjustment range of the products recycled from the third party exceeds a certain threshold, all the recycle prices in the whole market will fluctuate, thus causing market chaos. Among them, as an adjustment decision method, delay strategy reduces the volatility of recycle price and makes it return to a stable state, which is an effective method to control system disorder. In addition, the third-party recycler will change the optimal subsidy model according to the government’s price subsidy level, while the manufacturer always prefers the price subsidy model.
12 March 2020 in Discrete Dynamics in Nature and Society
In this paper, fifteen indicators from four dimensions are selected to construct an evaluation system for the happiness of land-lost farmers. The factors affecting the happiness of land-lost farmers are analyzed using the rough DEMATEL method. The results show that land expropriation compensation (F6) and job stability (F7) are the driving factors for improving the happiness of land-lost farmers. The government can improve the social environment policies, such as land acquisition, social security, and employment to influence other factors and improve the level of happiness of land-losing farmers. This study has important guiding significance and reference value for the reform of Chinas land expropriation, the protection of land-lost farmers rights and interests and the improvement of their happiness, and the maintenance of social harmony and stability.
16 December 2020 in Discrete Dynamics in Nature and Society
Innovation efficiency is an important index to measure the innovation performance of high-tech enterprises. Numerous researches have been conducted on innovation efficiency at national, regional, and sectoral levels, while there are comparatively few studies on the innovation efficiency of high-tech small- and medium-sized enterprises (SMEs) from a micro perspective. Therefore, innovation efficiency of 251 high-tech SMEs listed in China from 2012 to 2015 is measured with the super-SBM model in this paper. The results suggest that the overall innovation efficiency is low but shows an upward trend. In addition, the antecedents of innovation efficiency are explored using the panel regression model and the conclusions are as follows: (1) government subsidies, ownership concentration, and market competition deter enterprise innovation efficiency, and the impact of ownership concentration is found to be the most significant; (2) firm size and asset-liability ratio bear positively on enterprise innovation efficiency, with the effect of asset-liability ratio being greater; (3) firm age has significantly positive effects on scale efficiency but not on innovation efficiency and pure technical efficiency.
Nowadays, with global scientific and technological levels rapidly improving, innovation has been a great need for enterprises to solve the dilemma. Combined with EPR (Extended Producer Responsibility) and the topic of remanufacturer, adopting green innovation has been an effective way when green supply chain management is applied. In this paper, we focus on the activity of green innovation and build a model where the manufacturer will invest in green innovation to improve the product availability rate of recycled products and save the cost in the process of remanufacturing. Besides, we take three stages in a cycle into consideration, that is, production/sale, recycling used production, and remanufacture/sale, and meanwhile, the government gives a subsidy to enterprises to encourage the activity of recycling. In the process of model solving, we take a dynamic decision-making way into consideration. We find that the decision adjustment speed of players has a significant effect on the stability, and in a long dynamic repeated game process, with the speed of decision adjustment increasing, the system enters into chaos at the end of the process. It is interesting that when the speed of decision adjustment exceeds the critical point of the bifurcation diagram, the profit of the manufacturer decreases and then enters a chaotic state. Besides, with the level of subsidies increasing, the area of stable region decreases gradually. Certain investment has a positive effect on product selling and recycling as well as the profit, and the government subsidy undoubtedly raises the profit of manufacturers and encourages the activity of recycling. In the end, we make chaos control by adjusting the decision method.