Table of Content

25 April 2021, Volume 30 Issue 4

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Theory Analysis and Methodology Study

Pricing Decisions of a Dual-channel Closed-loop Supply Chain with a Budget Constraint Risk-averse Retailer

SHI Si-yu, SUN Jing-chun, DENG Fei

2021, 30(4):  1-9.  DOI: 10.12005/orms.2021.0102

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We analyze the pricing decisions of a dual-channel closed-loop supply chain concerning a risk-neutral manufacturer and a budget constraint risk-averse retailer. To address the problem, we use mean-variance criteria to describe the retailer’s risk aversion degree and build the Stackelberg game to obtain the optimal solutions in different financing modes, namely, bank loan and delay in payment. We investigate the impacts of the product recycling rate and the retailer’s risk aversion degree on the decision results, and compare the results between the two modes. We find that the retailer’s budget constraint will not affect the variation trends of wholesale price, direct selling price and retail price with the recycling rate. When the retailer applies for bank loan, the change of wholesale price with the risk aversion degree is also related to the interest rate, while the direct selling price always decreases with it. When the retailer applies for payment in delay, the wholesale price always increases with the risk aversion degree, while the direct selling price is independent with it. When the two financing interest rates are equal, wholesale price of bank loan mode is always higher than that of payment in delay, while the compare results of direct selling price and retail price are also affected by the sizes of interest rate and recycling rate.

Pricing and Recycling Decisions of Closed-Loop Supply Chain Considering Participators’ Risk Attitudes and Retailer Capital Constraint

YOU Tian-hui, LIU Chun-yi, CAO Bing-bing

2021, 30(4):  10-17.  DOI: 10.12005/orms.2021.0103

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This paper is focused on the pricing and recycling decisions of the closed-loop supply chain, which is composed of a manufacturer, a recycler and a capital constrained retailer, considering the different risk attitudes of the manufacturer, the recycler and the retailer when the market demand is uncertain. First, the market demand function and the collection cost function are given. Then, according to mean-variance, the utility functions of participators and closed-loop supply chain are constructed. Furthermore, according to the game theory, the optimal retail price of retailer, the optimal return rate of recycler and the optimal wholesale price of manufacturer under different supply chain power structure can be determined. Finally, the impacts of the participators’ risk attitudes and loan rate on optimal policies and utilities of the supply chain are analyzed. The results shows that members’ risk attitudes and loan interest rate can affect the optimal decisions and utility of the closed-loop supply chain. Specifically, the risk averse retailer and the risk averse manufacture are beneficial to other members, but are harmful to themselves and the closed-loop supply chain. The risk averse recycler is harmful to the manufacture, the retailer and the recycler. The increase of loan interest rate can reduce the utilities of participators and closed-loop supply chain.


Decision Research of Small and Medium-sized Supplier Alliance Based on Game Theory

YU Ying, QU Ying, GUO Ling-ling

2021, 30(4):  18-25.  DOI: 10.12005/orms.2021.0104

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Ingreen supply chain management, small and medium-sized suppliers are in a relatively weak position in the supply chain, with less pricing power compared to the core enterprise.Due to the dual difficulties in both economy and technology, small and medium-sized suppliers have caused serious environmental pollution. As a new model of enterprise cooperation,supply chain strategic allianceis an effective way to solve the existing development problems of small and medium suppliers. This paper establishes a green supply chain game theory model with two suppliers and one retailer. The two suppliers produce alternative products with different level of environmental standard. The optimal decision strategy is calculated with two scenarios. Then simulation analysis is conducted to explore the critical parameters’ impact on the model. The results show that the small and medium-sized supplier alliance is conducive to the green development of the whole supply chain, and enhance the status of small and medium-sized suppliers in the supply chain. The research conclusion can provide decision-making suggestions for all enterprises in the green supply chain.

Study on the Decision of the Three Party Re-manufacturing Closed Loop Supply Chain under the Purchase Capital Constraint of the Retailer

ZHANG Ke-yong, LI Jiang-xin, YAO jian-ming, LI chun-Xia

2021, 30(4):  26-32.  DOI: 10.12005/orms.2021.0105

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Under the premise that the original manufacturer has sufficient funds, considering that retailer has no capital endowment, we study the decision-making problems of the closed loop supply chain provided by the re-manufacturer to provide commercial credit BUT not commercial credit for the retailer. The study finds that if the re-manufacturer needs to borrow money from the original manufacturer to keep the business going, then the original manufacturer will raise the cost of patenting; when the re-manufacturer does not provide commercial credit, and the retailer does not seek external financing, re-manufacturers will be eliminated. Based on the revenue sharing contract, the closed loop supply chain can realize the coordinated operation. When the re-manufacturer does not provide commercial credit, the retailer seeks external financing through bank loans and equity financing to solve the problem of funds. With the increase of equity financing ratio, retailer’s profits will increase first and then decrease. Then the profits of manufacturer will increase, and the profits of original manufacturer will be reduced, but the profits of supply chain will increase.

Money-back Guarantee and Quantity Decision in Dual-channel Supply Chain

HUANG Fu, SONG Hua-ming, YANG Hui, ZHANG Zhe, WU Jia-wei, LV Yi-fan

2021, 30(4):  33-39.  DOI: 10.12005/orms.2021.0106

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The study on the quantity decision of a dual-channel supply chain with money back guarantee is conducted. By constructing a supply chain model with money back guarantee offers by retailers, this paper studies the seller’s quantity decision problem. The effects of money back guarantee and quantity decision sequence on equilibrium results, threshold of opening direct channel are analyzed. With comparison and analysis, it is found that in the traditional retail channel system, offering money back guarantee enhances sales quantity and manufacturer’s profit. Without money back guarantee the profits of manufacturer and retailer increases with customer satisfaction. With money back guarantee the profits of manufacturer and retailer first decreases and then increases in consumer satisfaction. Manufacturers will not open direct channel when selling cost is high. Manufacturers can more easily open a direct channel by offering money back guarantee. In the dual-channel supply chain, offering money back guarantee reduces retailer’s profit, increases direct sales quantity, total sales quantity and manufacturer’s profit. Retailer’s profit increases with direct selling cost of manufacturers. Direct sales quantity, total sales quantity, manufacturer’s profit and total profit decrease with direct selling cost. In the case of sequential quantity decisions, the manufacturer’s profit and total profit are higher.

Supply Chain Coordination Research and Financing Strategies Selection Considering Risk Aversion under Capital Constraints

TAN De-qing, CHEN Xue-meng

2021, 30(4):  40-46.  DOI: 10.12005/orms.2021.0107

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Under the retailer capital constraint, the supplier is willing to provide bank loans under trade credit financing or credit guarantees. With the two parties being risk-averse, the CVaR method is used to establish the Value-at-risk model of both parties and the supply chain. The supply chain coordination conditions, optimal order quantity and wholesale price are obtained, and meanwhile, the effects of the bank intrest rate on supply chain coordination and the supplier’s financal selections are analyzed. The results show that the supply chain coordination conditions depend on production costs, bank interest rates, and the degree of risk aversion of parties. The different bank interest rates will lead to different supply chain coordination conditions. The supplier will choose the financing choices offered to the retailer according to two parties’ risk aversion.

Research on Social Responsibility Investment and Pricing Strategy of Supply Chain Enterprises Based on Risk Preference

SUN Qi, MA Cheng, BAI Qing-guo

2021, 30(4):  47-53.  DOI: 10.12005/orms.2021.0108

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This paper studies the equilibrium pricing decisions of supply chain for a risk-averse manufacturer with corporate social responsibility and two risk-averse competitive retailers. The impacts of supply chain player’s risk aversion, the rival market demand uncertainty and correlation, the manufacturer’s corporate social responsibility level on equilibrium pricing are discussed using Stackelberg game model. The research shows that when the manufacturer takes corporate social responsibility, the effect of risk aversion on supply chain decision-making will depend on the level of corporate social responsibility. When market uncertainty or demand correlation is higher, the manufacturer with higher corporate social responsibility level will provide lower wholesale price. At this time, the retail price decreases with a high level of corporate social responsibility while the consumer welfare increases. When the cost of product is low, consumer welfare increases with the corporate social responsibility level. When the cost of product is high, consumer welfare always decreases.

Optimal Decisions on the Cycle Utilization of Express Packaging Materials and Social Welfare Analysis under Environmental Tax Policy

OUYANG Lian Qun, HUANG Di, DING Jian-xun

2021, 30(4):  54-60.  DOI: 10.12005/orms.2021.0109

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In this paper, a two-stage model is employed to study the cycle utilization of express packaging materials under the government’s environmental taxation policy. The optimal total profit and total carbon emissions under traditional and green operations strategies are compared and the optimal strategy choice is characterized under different environmental tax levels. Our theoretical results show that when the fixed cost of setting up the collection system is sufficiently high, with the increase of environmental tax level, it is not always optimal to choose green strategy. Meanwhile, the optimal total carbon emissions may not be lowered even green strategy is chosen. It is suggested that accompanying with appropriate fixed cost subsidies, environmental taxation can be used as an efficient mechanism to motivate the adoption of green strategy and achieve a win-win situation between economic and environmental benefits. By introducing the external cost of unit carbon emission, the optimal socially optimal environmental tax level is discussed. Our numerical results show that under certain conditions a triple-win situation among economic, environmental and social benefits can be achieved.

Research on the Supply Chain Coordination Based on Mean-CVaR and Production Capital Constraint

Cai Xin, Zheng Zunxin

2021, 30(4):  61-68.  DOI: 10.12005/orms.2021.0110

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This paper studies the coordination problem of a two-stage supply chain composed of a risk neutral retailer and a supplier with risk preference under the condition of uncertain demand. In this paper, the retailer’s optimal decision-making model and the supply chain’s overall ordering decision-making model based on M-CVaR measurement tool are established respectively under the two financing modes of retailer’s advance payment with wholesale price discount and supplier’s Bank credit. The optimal ordering quantity of retailer and thewhole supply chain, the coordination conditions of supply chain are given when two different financing modes are adopted. And the influence of supplier’s risk preference on the overall optimal decision-making and coordination conditions of the supply chain is analyzed. Finally, the main conclusions are verified by an example. The results show that when the price discount of prepayment is greater than the critical value, the retailer will choose to pay in advance; the optimal order quantity of the whole supply chain under prepayment mode is greater than that under bank credit mode; as the risk preference of supplier changes from risk aversion to risk preference, the optimal order quantity of the whole supply chain gradually increases.

Impact of Shipping Order Volume Uncertainty on the Optimal Pricing Decisions of a Freight Sharing Platform

LI Jian-bin, MEI Qi-huang, ZHANG Rui, DAI Bin

2021, 30(4):  69-75.  DOI: 10.12005/orms.2021.0111

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Freight sharing platform order analysis reveals that if the volume of the customer's declaration of the transported goods is often larger than the actual volume, and the platform will charge according to the larger one. From the perspective of platform’s profit, this study establishes a joint optimization model of packing and vehicle routing problem considering the shipping order volume uncertainty, and studies the impact of volume uncertainty on the platform’s optimal pricing decisions, the results show that the platform’s profit has the potential to increaseby 24%. Further, in order to realize the revenue sharing among the platform, the customer and the driver, and increase the market share of the platform, the platform considers the strategy of price reduction to compare with the actual pricing strategy in the case of deviations in the charging volume. Through numerical analysis, it is found that in the case of the existence of volume deviation rate, when the price drops within 18%, the profit of the platform will increase, and the maximum can reach 23.26%. When the price drops by more than 18%, the platform profit will increase negatively, so it is not suitable for taking measures to reduce prices.In the process of price reduction, the cost of customers’ payment can be reduced by up to 19.17%, and the driver’s income can be increased by up to 13.82%. The results show that the new segmentation pricing strategy can better achieve the three-way win-win situation and it has certain reference significance for the actual operations of the platform.

An Intuitionistic Trapezoid Fuzzy Number Group Multiple Attribute Decision Making Method Based on Improved Score Function

LI Peng-yu, WU Chong

2021, 30(4):  76-80.  DOI: 10.12005/orms.2021.0112

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In order to consider the risk preference of decision makers in group multi-attribute decision making, the intuitionistic trapezoidal fuzzy number is simplified by using ordered weighted average operator of continuous interval on the basis of intuitionistic trapezoid fuzzy number, which is transformed into intuitionistic fuzzy number. Based on this, a new scoring function is proposed. A new group multi-attribute decision-making method is obtained, which is applied to a specific example. The concrete steps of the method are given and the effectiveness of the method is proved.

A Pythagorean Fuzzy Multiple Attribute Group Decision-making Method Based on Shapley Value and its Application

GUAN Xian-jun, ZHOU Han, ZHOU Li-gang, CHEN Hua-you

2021, 30(4):  81-86.  DOI: 10.12005/orms.2021.0113

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This paper proposes a novel approach to Pythagorean fuzzy multiple attribute group decision-making problems based on Shapley value considering the experts’ weights. Firstly, the definitions of Shapley value and characteristic function are introduced, the concepts of Pythagorean fuzzy distance measure and Pythagorean fuzzy decision error information matrix are proposed, and their properties are studied. Then, a Pythagorean fuzzy expert weight determination model based on Shapley value is constructed. Moreover, a logarithmic minimum optimization model is developed to solve the priority weights in multiple attribute group decision-making problems. Finally, a Pythagorean fuzzy multiple attribute group decision-making approach based on Shapley value is proposed, and a practical example is given to illustrate the effectiveness of the method.

Study on the Financial Support Mechanism and T-S Evolutionary Game of the Strategic Emerging Industries

LIU Guo-wei, SHAO Yun-fei

2021, 30(4):  87-95.  DOI: 10.12005/orms.2021.0114

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This paper aims to solve the problem of how the financial support affects the cultivation of the innovative body in the strategic emerging industries. On the basis of analyzing the mechanism of double helix coupling among financial support agents, a two-stage evolutionary game model of the financial support in the strategic emerging industries is built. Then, the phase plane theory of the dynamic system is used to calculate the approximate analytical solution of the two-stage ESS. Finally, with the aid of MATLAB, the numerical simulation of the two-stage evolutionary game model is realized in order to analyze the influence of different parameters on the evolution of the two-stage ESS. The results show that: (1)there are opportunistic behavior and non-opportunistic behavior, which are opposite and one of them is dominant; (2)when the opportunistic behavior (or non-opportunistic behavior) is dominant, the u value of the financial support body will be smaller (or larger), and decrease (or increase) moderately, the subsidy k will be conducive to enhancing the positivity of innovative body in the strategic emerging industry to accept the subsidy; (3)the self-owned funds R of the innovative body in the strategic emerging industry has little influence on the positivity, but the more stable the subsidy funds rate is, the more beneficial it is to improve their enthusiasm. Based on these conclusions, this paper constructs a two-stage ESS evolutionary framework of the strategic emerging industries financial support, and explores its path of progressive function from “cumulative function”to“paradoxical function”and to“cumulative-paradoxical function”, so as to finish the balanced evolution of the two-stage ESS from " supporting actively” to “accepting actively”, which provides theoretical support for the government to formulate relevant policies that improve the efficiency of financial support for the cultivation of innovative subjects.

Research on the Collaborative Innovation Mechanism among the Government, Enterprises and Universities in the Post-subsidy Era of New Energy Automobiles Based on Tripartite Evolutionary Game Theory

WU Jun-min, TANG Xi, SHENG Yong-xiang, WEI Xiao-zhuo, MAO Xiang-yu

2021, 30(4):  96-102.  DOI: 10.12005/orms.2021.0115

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The collaborative innovation of government, enterprisesand universities is an important measure to promote the development of new energy automobiles. China will cancel the subsidy for new energy automobiles soon, which will have a huge impact on the new energy automobile industry undoubtedly. The tripartite evolutionary game model is used to establish the evolutionary payoff matrix of the collaborative innovation among the enterprises of new energy automobiles, universities and government in the context of cancelling subsidy for new energy automobiles in this paper. The impacts of correlative parameters on collaborative innovation strategies of them are studied by Matlab numerical simulation. The results show that the increase speeds in the aspiration of participating in collaborative innovation are different for the three parties, and the aspiration of government dropsas that of new energy automobile enterprises and universities increases; the speed of stabilization of new energy automobile enterprises’ aspiration of participating in collaborative innovation is constantly higher than that of universities; the incentive cost paid by the government for the collaborative innovation with new energy automobile enterprises and universities affects the government’s aspiration of participation; whether the government participates in the obtainable income or not can’t affect the government’s aspiration of participation alone, while whether the government participates in the difference between the obtainable incomes or not could determine the aspiration of participation of the government.

Network Analysis of Sudden Disaster Emergency Response Partner Relationship Based on Social Network Perspective ——Taking the “6·24” Diexi landslide as an Example

TANG Min, LIU Bin, LI Shi-ming, LI Pu

2021, 30(4):  103-108.  DOI: 10.12005/orms.2021.0116

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The emergency management practice of sudden disasters shows that the reliability of the response network between the responding subjects affects the efficiency of the emergency response. This study selects “6.24” Xinmo landslide as the object of research, using literature analysis, interviews, relationship mining and other research methods to build a network of collaborators between subjects in the process of disaster response, and compares the randomly generated cooperative network with similar attributes and cases abroad, focusing on the network resilience of the collaborator relationship from the perspective of social network. The study finds that key actors in the emergency response network fulfill the role of responsibility required for disaster response, and in terms of the efficiency of emergency rescue, China’s emergency rescue system has institutional superiority. The position of key actors such as headquarters in the network affects the efficiency and resilience of the entire cooperative network. Therefore, it is necessary to further improve the level of coordinated disaster relief among the overall network members in the emergency rescue after the disaster, so as to achieve practical results in rescue efficiency and effectiveness.

Probabilistic Hesitant Fuzzy Multi-attribute Decision Making Method Based on Similarity and Improved Radar Chart

ZHU Feng, LIU Yu-min, XU Ji-chao, SU Bing-jie

2021, 30(4):  109-114.  DOI: 10.12005/orms.2021.0117

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In order to solve the problem of probabilistic hesitant fuzzy multi-attribute decision-making with unknown attribute weights, a multi-attribute decision-making method based on similarity and improved radar chart is constructed. Firstly, the distance measure and gray correlation coefficient of probabilistic hesitant fuzzy sets are constructed based on the information completeness of probabilistic hesitant fuzzy elements. Secondly, the similarity of probabilistic hesitant fuzzy sets is defined based on the gray correlation ideal solution. Finally, a multi-attribute decision-making model is constructed based on the similarity of the probabilistic hesitant fuzzy sets and the improved radar chart, and the validity is verified through a case.

Research on Incentive Mechanism of the Self-regulatory Organization for Environmental Sanitation Responsibility AreaBased on Evolutionary Game Theory

ZHANG Yi-lin, MA Hui-min

2021, 30(4):  115-121.  DOI: 10.12005/orms.2021.0118

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Some cities in China has began to promote the system of urban appearance and environmental health responsibility area, and explored the establishment of self-regulation organization of urban appearance and environmental health responsibility area. In this paper, the self-regulatory organization and its members are taken as the two sides of the game to establish the evolutionary game model, and the incentive mechanism is introduced;then the willingness of the two sides of the game under different income is calculated, and a stability analysis is carried out. Finally, MATLAB simulation is used to analyze the influence of parameter change on the evolution result and path. The results show that the rational incentive mechanism greatly improves the enthusiasm of the organization members, and the incentive mechanism is set as positive incentive and negative incentive, among which positive incentive includes honor incentive and financial incentive. At the same time, the higher government departments should strengthen the supervision of self-regulatory organizations, vigorously publicize the self-discipline and self-governance of sanitation, improve the self-discipline and self-governance consciousness of the organization members, and make the management of self-regulatory organizations run more smoothly.

A Improved Skyline Manufacturing Service Composition Optimization Approach Based on QoS Collaboration Association

REN Lei, REN Ming-lun

2021, 30(4):  122-127.  DOI: 10.12005/orms.2021.0119

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In service social network, cloud manufacturing service can share and compete in physical equipment, information and knowledge with other services involved in the same task, where collaboration effect is created and it has important influence on the real implementation QoS of both of them, resulting in QoS deviation phenomenon. In the actual manufacturing process, service QoS depends on the resource synergy effect formed by collaboration and conflict with the associated services. The existing service selection method is difficult to adapt to this situation. Therefore, according to the characteristics of service collaboration network, a manufacturing service selection method based on QoS collaboration association is proposed. Applying QoS collaboration association and synergy coefficient to describe the influence of resources sharing and conflict on on service QoS, a new service selection optimization model is naturally built. Through the concept of Skyline service pair, the search efficiency and result of Skyline algorithm are remarkable improved under the condition of QoS collaboration association. The simulation results show that the proposed model and algorithm are effective.

Transportation Network Optimization of the Hazardous Materials Considering Vehicle Speed Limit Interval

WANG Wei, ZHANG Hong-gang, DING Li-li, ZHANG Wen-si, GAO Ge, ZHANG Hui

2021, 30(4):  128-134.  DOI: 10.12005/orms.2021.0120

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Due to the great harm of hazardous materials (hazmat) in the transportation process, in order to reduce risk of hazmat transportation, the government can guide the route selection of the hazmat vehicles by imposing different speed limit interval on different road links, which eventually results in the different total risk and robust cost of the hazmat transportation network. Based on the approach of vehicle speed limit interval, this paper firstly constructs a bi-level programming model for the hazmat transportation network optimization, in which the upper level aims to minimize the maximum total risk of the transportation network, and the lower level focuses on minimizing the robust cost of the hazmat carriers. Then, the model is solved by particle swarm optimization. Finally, two numerical experiments are employed to verify the effectiveness of the model and algorithm. The results show that the government can not only effectively reduce the total risk of the hazmat transportation network by the method of vehicle speed limit interval, but also be more robust and realistic.

Research on Selection and Optimization of Closed-loop Supply Chain Recycling Mode Based on Stackelberg Game

FAN Ding-xiang, LI Chong-lian, WANG Xiao-lei

2021, 30(4):  135-141.  DOI: 10.12005/orms.2021.0121

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From the perspective of closed-loop supply chain, four recovery models of the closed-loop supply chain set up by four different entities like manufacturers, retailers, online recyclers and offline recyclers, through Stackelberg game analysis, the equilibrium profit of the recovered entities and the total profit of the supply chain in each model are solved, and the optimal recovery mode of the closed-loop supply chain is obtained. On this basis, the carbon trading mechanism is further introduced to optimize the optimal recovery model. Finally, the Matlab2017a software simulation is used to verify the rationality of the model analysis and the effectiveness of the optimization. The research results show that the multi-recycling main mode(ie O/U/R/MM mode) consisting of online and offline recyclers, retailers and manufacturers can maximize the overall profit of the supply chain including each recycling entity. Therefore, it is the recycling mode that should be preferred in reality; the change of the ratio of recycling refabrication is directly related to the profit value of each member of the supply chain under each model; and the introduction of the carbon trading mechanism can effectively improve the optimal recycling mode for manufacturer profit and total profit of the supply chain.

Application Research

Research on Portfolio Model with Complex Reality Constraints Based on Improved Particle Swarm Optimization

DENG Xue, LIN Ying-xian

2021, 30(4):  142-147.  DOI: 10.12005/orms.2021.0122

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Based on the possibility theory, assuming that the future returns of each asset are trapezoidal fuzzy numbers, a mean-variance-Yager entropy model is constructed including V-type transaction costs, upper and lower bounds of investment proportion and cardinal constraints. By adopting Gradual Tolerance Method with tolerance amount, the tri-objective model is transformed into a single-objective model. By adjusting the tolerance amount to control the return and risk, investors can choose their own investment decisions according to their preferences. In addition, this paper describes the search speed by non-linear inertia weight, and proposes an improved particle swarm optimization algorithm by initializing some particles with poor individual optimal fitness, which reduces the possibility of falling into the local optimum. At the same time, the cardinal constraints and upper and lower bounds constraints are processed by 0-1 matrix and a scaling factor, which makes the solution of the model more effective. Finally, an example is given to illustrate the feasibility and effectiveness of the algorithm. The effective frontier of portfolio is given, and the effect of the change of risk/return tolerance amount is analyzed when the return/risk tolerance amount remains unchanged, which furthermore provides more decision-making selections for investors.

Study on Behavior Choice of Corporate Environmental Investment under Double Uncertainty of Market and Regulation

GE Shi-long, LIU Xiao-feng

2021, 30(4):  148-154.  DOI: 10.12005/orms.2021.0123

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A model is built to analyze corporate environmental investment behavior based on the agent’s self-adaptive rules. In government environmental regulation and market volatility, the uncertainty of corporate environmental investment decision is depicted. The laws of corporate environmental investment behaviors are explored by the method of computational experiment under four scenarios including benchmark, fluctuation, rise and fall. Experiments results show that environmental regulation uncertainty is positively related to a firm’s environmental investment. The stronger the intensity of government regulation, the more fully firm’s environmental investment. However, we find the investment’ bias is more obvious. In the oscillating situation, the behavior of corporate environmental investment is not rational. In the rising situation, the corporate environmental investment is an overreaction. When commodity price fluctuates at one side, the government can use flexible environmental regulation to achieve goals. However, when the commodity price shocks, government will need to use more strict environmental regulation to stimulate enterprises to invest in environment. Finally, both the government environmental regulation and market signal affect the environmental investment behavior. The continuous stimulation of the government environmental regulation will not cause enterprises to make blinded investment, but the frequent change of environmental regulations will make enterprises have no idea about taking their action.

Modeling and Solution for Load Balancing Optimization in Distributed Stream Processing System Management

TANG Ying-feng, CHEN Shi-ping

2021, 30(4):  155-162.  DOI: 10.12005/orms.2021.0124

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The paper concentrates on the load balancing problem in the management of distributed stream processing system. The operation mechanism of distributed stream processing system and the causes of unbalanced load of nodes is expounded, and an optimization scheme for load balancing adjustment is proposed in the paper. The model of the proposed optimization scheme is then established, and the applicable conditions of the model are theoretically analyzed. Then the model is solved with ant colony optimization, and the algorithm is then improved to meet the real-time requirement of distributed stream processing system.Finally, the validity of the model and its solution in solving the node load balancing problem in the management of distributed stream processing system is proved by experiments.

An Analysis of the Evolution of Government and Enterprise Interaction in the Perspective of Resource Endowment

LI Bai-zhou, ZENG Jing-wei

2021, 30(4):  163-171.  DOI: 10.12005/orms.2021.0125

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In view of the heterogeneity of resources between government and enterprise, this paper defines and analyzes the different modes of interaction between government and enterprise (random cooperation, policy driven, technology driven, cooperative and win-win), constructs the evolutionary game model of interaction between government and enterprise, and clarifies the evolution path of interaction between government and enterprise in different modes. The results show that there are significant differences between the different modes of interaction between the government and the enterprises. The interaction between different types of enterprises and the government corresponds to a certain interactive model; the generation and evolution of the different interactive modes correspond to the development process of the interaction between the government and the enterprise. Cooperative and win-win interactive mode is the advanced stage of the interaction between government and enterprises, which is conducive to the close cooperation between government and enterprises, and stimulates the synergistic effect of government’s policy resources and enterprise technical resources.

The Demonstration Effect of Institutional Survey Behavior ——Based on the Interactive Platform of Shenzhen Stock Exchange

MA Dan, WANG Chun-feng, FANG Zhen-ming

2021, 30(4):  172-177.  DOI: 10.12005/orms.2021.0126

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Based on the interactive platform of the Shenzhen Stock Exchange, we analyze the route of the behavior of institution survey-investors’ attention-stock liquidity, verifying the demonstration effect of institutional behavior. We can conclude that institutional survey behavior has a strong demonstration effect, which can promote the liquidity of stocks by attracting the attention of other investors, and the more concentrated the survey behavior of institutions, the stronger the demonstration effect. In addition, investors have higher information needs for companies with lower quality of information disclosure and lower proportion of institutional shareholdings, because they are more concerned about the survey behavior of such companies, and the demonstration effect is stronger. The conclusions not only support the information superiority and behavioral influence of institutional investors, but also provide evidence for the market guidance role of institutional investors.

Research on the Multi-Objective Optimization Strategy of Government Promoting Banks to Implement Green Credit

WANG Wen-lie

2021, 30(4):  178-183.  DOI: 10.12005/orms.2021.0127

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Classical green credit researches always have the limitations of simple models, non-dynamic parameters and only obtaining Nash equilibrium points. To address the above issues, a data-driven multi-objective optimization algorithm is studied, where governments can promote banks to implement green credit. The optimal strategy problem of green credit is first illustrated based on a data-driven multi-objective optimization algorithm framework, and then the optimal strategy Markov state transition model is established based using historical data. Finally a multi-objective particle swarm optimization algorithm is introduced to solve the optimal long-term total income strategy of the government and the bank. Unlike the traditional methods by which the approximate models and game theory are used, the proposed method can obtain experience from historical data, thereby formulating a strategy with more long-term benefits and avoiding the “short insight” phenomenon. The analysis results show that the benefits of green credit will not appear in a short period of time, which makes the government consider the return period of green credit benefits to make long-term judgments when making decisions.

Efficiency Evaluation and Ranking for Decision Making Units Based on SMAA and Common Weight

ZHU Yun-xia, ANG Sheng, YANG Feng

2021, 30(4):  184-189.  DOI: 10.12005/orms.2021.0128

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Common weight model has been one of widely used efficiency evaluation and ranking methods for decision making units(DMUs)in Data Envelopment Analysis(DEA). Compared with the traditional DEA models which are based on self-evaluation efficiency, the common weight model assesses all DMUs with a common set of input and output weights; thus, the evaluation results are more discriminating and objective. This study considers the satisfaction degree of a DMU to its ranking position and proposes two types of common weight models: the one is to maximize the minimum satisfaction and the other is tomaximize the average satisfaction. Firstly, the acceptability index of each DMU in each ranking position is obtained using Stochastic Multi-criteria Acceptability Analysis(SMAA). Secondly, the weight space is explored to find the weight which maximizes the minimum or average satisfaction as a set of common weight. Finally, we calculate the efficiency scores for all the DMUs and rank them using the obtained common weight. The feasibility and effectiveness of our proposed method for efficiency evaluation and ranking are illustrated by a numeral example.

Quality Guarantee Strategy of Service Providers under Competitive Situation

WANG Wen-long, REN Qian-nan, ZHANG Su-xian

2021, 30(4):  190-195.  DOI: 10.12005/orms.2021.0129

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Quality guarantee strategy is one of important means to gain competitiveness for service providers. Based on the impact of quality guarantee and compensation of service provider and its competitors on service demand, this paper constructs a game model based on three competition types: quality guarantee level, quality guarantee compensation, quality guarantee level and quality guarantee compensation. And it systematically analyzes quality guarantee strategies under different competition models. The study finds that once service providers improve their quality guarantee level or compensation under the quality guarantee level competition model, other service providers can appropriately reduce the quality guarantee level; and under the quality guarantee compensation competition model other service providers choose to improve their quality guarantee compensation. In addition, under the quality guarantee level and quality guarantee compensation competition model, as long as the cost coefficient of the quality guarantee level meets certain conditions, there can be Nash equilibrium among providers. This paper has practical significance for the formulation of quality guarantee strategies for service providers in the service market competition.

Research on the Impact of Supply and Demand Imbalance of Provincial Audit Market on Audit Quality ——Based on the Intermediate Effect of Audit Input

CHENG Lu, DONG Pei-wu

2021, 30(4):  196-199.  DOI: 10.12005/orms.2021.0130

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Based on the financial data of listed companies in China, the paper explores the influence mechanism of supply-demand imbalance on audit quality by using audit hours data. The results show that audit input plays a mediating role between “abnormal” supply and audit quality. Specifically, audit input plays a full mediating role in the impact of “abnormal” supply of big 4 on audit quality, and plays a partial mediating role in the impact of “abnormal” supply of next6 and small on audit quality. This paper enriches the related research of audit quality, and provides some reference for exploring the path mechanism of audit quality influencing factors.

Research into Risk Spillovers between Financial and Real Estate Industries via a Generalized CoES Approach

CAO Jie, LEI Liang-hai

2021, 30(4):  200-205.  DOI: 10.12005/orms.2021.0131

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In order to overcome the limitation that generalized CoVaR can only measure conditional risk under a single tail probability, a new risk spillover measure, generalized CoES, is proposed in this paper, and the calculation formula of generalized CoES is given based on Archimedean Copula. Empirical study on risk spillovers between financial and real estate industries in China via the new approach shows that compared with generalized CoES, generalized CoVaR underestimates the conditional risk of financial industry and real estate industry. There are dynamic and asymmetric two-way risk spillovers between the two industries. Furthermore, the average risk spillover intensity of the real estate industry to the financial industry is 69.71%, while the average risk spillover of the financial industry to the real estate industry is 65.38%. In addition, the net risk spillover of real estate industry to financial industry is pro-cyclical, that is, when the real estate price is low, the net risk spillover degree is weak, and when the real estate price is high, the net risk spillover degree is also enhanced.

The O2O Maturity Model of Fresh E-commerce Based Oncatastrophe Progression-grey Target

ZHANG Hao, FENG Hui-xia, TANG Meng-jiao

2021, 30(4):  206-211.  DOI: 10.12005/orms.2021.0132

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In order to evaluate the O2O(Online To Offline)level of fresh E-commerce, this paper designs a maturity model for the integrated development of fresh agricultural products e-commerce and traditional circulation system, and the seventeen key process domains and their objectives at five levels of maturity model are determined. Through the instance, using the grey target decision and catastrophe progression method to evaluate the maturity, so that it can find and improve the weak links in the business process and move towards a higher level of maturity, the result shows that the maturity model combined with catastrophe progression method and grey target decision avoids the subjectivity of empowerment, and not only improves the accuracy of the evaluation of the development maturity model integrating the e-commerce of fresh agricultural products with the traditional circulation system, but also does not lose the reliability, rationality and scientificity, which has important practical value.

Efficiency Evaluation and Improvement Based on Transitivity

HUANG Yan, WANG Ying-ming

2021, 30(4):  212-216.  DOI: 10.12005/orms.2021.0133

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Cross-efficiency evaluation, as an extension tool of data envelopment analysis(DEA), has been widely applied in evaluating and ranking decision making units(DMUs). Unfortunately, the baleful evaluation among peers makes the efficiency valued impractical. In this paper, the third party is regarded as an indirect element. Considering that these indirect elements are transitive in the efficiency evaluation matrix, the indirect judgment results are introduced to iterate the original cross-efficiency matrix repeatedly, and the final stability of the iteration process is proved. Finally a numerical example shows the applications and flexibility of the model in this paper.

Management Science

Research on Green Job Shop Scheduling Problem of Semiconductor Wafers Manufacturing with Learning Effect

DONG Jun, YE Chun-ming

2021, 30(4):  217-223.  DOI: 10.12005/orms.2021.0134

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In order to minimize makespan, total carbon emissions and total tardiness, we construct a new learning effect model with double influencing factors firstly. Thus an improved Multi-Verse Optimizer algorithm is proposed and its convergence is also proved. By performing reverse learning on the initial population, perturbing the individuals in the universe population by Levy flight, and mutating and updating the individuals in the external archive by neighborhood search, new parent individuals are generated, which expand the diversity of the population and avoid the algorithm falling into local optimum. Through the simulation experiments of small-scale and large-scale test cases, and the use of improved algorithm to solve the green shop scheduling problem of learning semiconductor wafers fabrication with heterogeneous machines, it is verified that the proposed algorithm for solving the green shop scheduling problem of semiconductor wafers fabrication with learning effect is valid and feasible.

Research on the Regulation of Eye Candy Store Behavior from the Perspective of Counterfeit Crisis and Moral Crisis

LUO Gong-li, GUO Yan-lu, HOU Gui-sheng

2021, 30(4):  224-231.  DOI: 10.12005/orms.2021.0135

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With the eye candy stores becoming popular, it is easy for them to be imitated in a short time, and authentic shops find it difficult to respond effectively because of information asymmetry and high cost of defending rights from different places. On the other hand, with the market competition intensified, selling second-handed goods at the best quality prices has also occurred, so the founders of eye candy stores have faced both the counterfeit crisis and moral one. Against this background, this paper studies the three-party evolutionary game of the originator and followers of the eye candy stores and the regulatory platform. The study finds that for the founders and followers of eye candy stores, only when the amount of fines is large enough can the regulator effectively prevent infringement and violation. Based on the prospect theory, further discussion finds that with the change of the amount of fines, the risk attitude of the founders is changed, and the optimal penalty level is obtained at the end of the paper, and policy recommendations are proposed from the aspects of increasing enforcement and amount of fines.

Study on the Influencing Factors of Pricing of Platform Enterprise: Taking Bank Card as an Example

WANG Na

2021, 30(4):  232-239.  DOI: 10.12005/orms.2021.0136

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Based on the two-sided market theory, this paper constructs the pricing mode and regression equation of the platform enterprise, and uses the actual operating data of 14 commercial banks in China from 2001 to 2017 to test the model and equation. The results show that the main factors influencing the price decision of the platform on the buyer’s side are the cost of the product or service provided to the consumer (buyer), the price elasticity of demand on the buyer’s side, the degree of differentiation of the product (service), and the number of relative party (merchant) access to the platform. And the main factors of the seller’s price decision are the network external strength, the price elasticity strength and market share on this side.