انتقال و به اشتراک گذاری خطر نرخ ارز در یک زنجیره تامین ریسک گریز یک شرکت چند ملیتی
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|43370||2014||15 صفحه PDF||سفارش دهید||15811 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : European Journal of Operational Research, Volume 237, Issue 2, 1 September 2014, Pages 634–648
This paper analyzes risk management contracts used to handle currency risk in a decentralized supply chain that consists of risk-averse divisions in a multinational firm. Particular contracts of interest involve transferring risk to a third party by using risk-transfer contracts such as currency options and re-arranging risk between supply chain members using risk-sharing contracts. Due to decentralization, operational and risk management decisions are made locally; however, a headquarter who is interested in total supply chain profit has some controllability over those activities. We question if each kind of risk management contract can improve the utility of all supply chain members compared to the utility without any of those, and how the conditions to achieve such improvements are different. Further structural differences are investigated via sensitivity analysis with respect to the transfer price, the variability of exchange rates, and the location of the headquarter. We also find that using the two kinds of contracts jointly does not necessarily result in better outcomes.