Coping with the Bullwhip Effect through Inventory or Cash:
An Environment–Behavior–Performance Paradigm
时 间：2017年10月27日（周五）下午 12:00-13:30
地 点：体育外围平台APP紫金港校区行政楼1002会议室
报 告 人：陆柏乐 博士生, Zhejiang University
摘 要:
The bullwhip effect is widely found in firms and exerts adverse effects on firm profits. This study proposes an environment–behavior–performance research paradigm to examine the impact of the bullwhip effect on firm coping behavior and performance. In this research paradigm, the bullwhip effect is regarded as the external environment of firms, inventory and cash holdings are regarded as firm coping behavior, and risk is regarded as firm performance. By collecting secondary firm-level data from 1,598 listed manufacturing firms in China, the results show that the bullwhip effect is positively related to both operating and equity risk. Firms tend to increase their inventory and cash holdings under the bullwhip effect. Furthermore, under the bullwhip effect, both risks are alleviated by moderate inventory levels and aggravated by higher levels. Increased cash holdings alleviate the operating risk, but too much cash is detrimental. Firms with different risk control targets should contingently hold suitable levels of inventory, cash, or both in response to the bullwhip effect.
报告人简介：
陆柏乐是体育外围平台APP数据科学与管理工程系在读博士研究生，主要研究供应链金融以及运营与财务的结合性研究，擅长实证研究。
