【摘要】 针对由零售商、回收商和资金约束的制造商构成的闭环供应链融资模式选择问题，分别构建了考虑资金约束制造商向零售商融资（内部融资）和向银行融资（外部融资）时制造商、零售商、回收商和闭环供应链的收益函数，并基于Stackelberg博弈的思想给出两种融资模式下的最优定价与回收率策略.在此基础上，通过对比不同融资模式下回收商、零售商、制造商和闭环供应链的最优决策和利润，从不同角度给出了最优融资模式选择策略.研究结果表明，在一定条件下，选择零售商进行融资对回收商、零售商、制造商和闭环供应链均有利.更多还原

【Abstract】 Aiming at the financing mode selection problem of a closed-loop supply chain consisting of a retailer, a recycler, and a capital constrainted manufacturer, the revenue functions of the manufacturer, retailer, recycler, and closed-loop supply chain are constructed when the capital constrained manufacturer can get financing from the retailer(internal financing) or the bank(external financing), respectively, and based on the Stackelberg game, the optimal pricing and return rate strategies under two financing modes are given. On this basis, by comparing the optimal decisions and revenue of the recycler, retailer, manufacturer, and closed-loop supply chain under different financing modes, the financing mode selection strategies are given from different perspectives. The research results show that under certain conditions, the retailer providing financing services are beneficial for the manufacturer, retailer, recycler and closed-loop supply chain.更多还原