{"id":"https://openalex.org/W4411889314","doi":"https://doi.org/10.3390/systems13070531","title":"Inclusive Internal Financing, Selective Internal Financing, or Hybrid Financing? A Competitive Low-Carbon Supply Chain Operational and Financing Strategies","display_name":"Inclusive Internal Financing, Selective Internal Financing, or Hybrid Financing? A Competitive Low-Carbon Supply Chain Operational and Financing Strategies","publication_year":2025,"publication_date":"2025-07-01","ids":{"openalex":"https://openalex.org/W4411889314","doi":"https://doi.org/10.3390/systems13070531"},"language":"en","primary_location":{"id":"doi:10.3390/systems13070531","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13070531","pdf_url":"https://www.mdpi.com/2079-8954/13/7/531/pdf?version=1751363133","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://www.mdpi.com/2079-8954/13/7/531/pdf?version=1751363133","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5072031626","display_name":"Xiaoli Zhang","orcid":"https://orcid.org/0000-0001-7632-9978"},"institutions":[{"id":"https://openalex.org/I1308199089","display_name":"Harbin University","ror":"https://ror.org/00ey9xa07","country_code":"CN","type":"education","lineage":["https://openalex.org/I1308199089"]},{"id":"https://openalex.org/I41208885","display_name":"Harbin University of Commerce","ror":"https://ror.org/03zsxkw25","country_code":"CN","type":"education","lineage":["https://openalex.org/I41208885"]},{"id":"https://openalex.org/I4402554171","display_name":"Harbin Finance University","ror":"https://ror.org/04kfz4b98","country_code":null,"type":"education","lineage":["https://openalex.org/I4402554171"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Xiaoli Zhang","raw_affiliation_strings":["Postdoctoral Research Workstation of Northeast Asia Service Outsourcing Research Center, Harbin University of Commerce, Harbin 150028, China","School of Accounting, Harbin Finance University, Harbin 150030, China"],"affiliations":[{"raw_affiliation_string":"Postdoctoral Research Workstation of Northeast Asia Service Outsourcing Research Center, Harbin University of Commerce, Harbin 150028, China","institution_ids":["https://openalex.org/I41208885"]},{"raw_affiliation_string":"School of Accounting, Harbin Finance University, Harbin 150030, China","institution_ids":["https://openalex.org/I1308199089","https://openalex.org/I4402554171"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5101204085","display_name":"Lin Zhang","orcid":"https://orcid.org/0009-0003-9331-9159"},"institutions":[{"id":"https://openalex.org/I1308199089","display_name":"Harbin University","ror":"https://ror.org/00ey9xa07","country_code":"CN","type":"education","lineage":["https://openalex.org/I1308199089"]},{"id":"https://openalex.org/I41208885","display_name":"Harbin University of Commerce","ror":"https://ror.org/03zsxkw25","country_code":"CN","type":"education","lineage":["https://openalex.org/I41208885"]},{"id":"https://openalex.org/I4402554171","display_name":"Harbin Finance University","ror":"https://ror.org/04kfz4b98","country_code":null,"type":"education","lineage":["https://openalex.org/I4402554171"]}],"countries":["CN"],"is_corresponding":false,"raw_author_name":"Lin Zhang","raw_affiliation_strings":["Postdoctoral Research Workstation of Northeast Asia Service Outsourcing Research Center, Harbin University of Commerce, Harbin 150028, China","School of Accounting, Harbin Finance University, Harbin 150030, China"],"affiliations":[{"raw_affiliation_string":"Postdoctoral Research Workstation of Northeast Asia Service Outsourcing Research Center, Harbin University of Commerce, Harbin 150028, China","institution_ids":["https://openalex.org/I41208885"]},{"raw_affiliation_string":"School of Accounting, Harbin Finance University, Harbin 150030, China","institution_ids":["https://openalex.org/I1308199089","https://openalex.org/I4402554171"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5103021063","display_name":"Caiquan Duan","orcid":"https://orcid.org/0000-0002-4607-3219"},"institutions":[{"id":"https://openalex.org/I1308199089","display_name":"Harbin University","ror":"https://ror.org/00ey9xa07","country_code":"CN","type":"education","lineage":["https://openalex.org/I1308199089"]},{"id":"https://openalex.org/I169572211","display_name":"Northeast Agricultural University","ror":"https://ror.org/0515nd386","country_code":"CN","type":"education","lineage":["https://openalex.org/I169572211"]},{"id":"https://openalex.org/I4402554171","display_name":"Harbin Finance University","ror":"https://ror.org/04kfz4b98","country_code":null,"type":"education","lineage":["https://openalex.org/I4402554171"]}],"countries":["CN"],"is_corresponding":true,"raw_author_name":"Caiquan Duan","raw_affiliation_strings":["College of Engineering, Northeast Agricultural University, Harbin 150030, China","School of Accounting, Harbin Finance University, Harbin 150030, China"],"affiliations":[{"raw_affiliation_string":"College of Engineering, Northeast Agricultural University, Harbin 150030, China","institution_ids":["https://openalex.org/I169572211"]},{"raw_affiliation_string":"School of Accounting, Harbin Finance University, Harbin 150030, China","institution_ids":["https://openalex.org/I1308199089","https://openalex.org/I4402554171"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5103021063"],"corresponding_institution_ids":["https://openalex.org/I1308199089","https://openalex.org/I169572211","https://openalex.org/I4402554171"],"apc_list":{"value":1600,"currency":"CHF","value_usd":1732},"apc_paid":{"value":1600,"currency":"CHF","value_usd":1732},"fwci":2.1067,"has_fulltext":true,"cited_by_count":1,"citation_normalized_percentile":{"value":0.88984811,"is_in_top_1_percent":false,"is_in_top_10_percent":false},"cited_by_percentile_year":{"min":96,"max":98},"biblio":{"volume":"13","issue":"7","first_page":"531","last_page":"531"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10539","display_name":"Sustainable Supply Chain Management","score":0.9430999755859375,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10539","display_name":"Sustainable Supply Chain Management","score":0.9430999755859375,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10328","display_name":"Supply Chain and Inventory Management","score":0.9180999994277954,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T12544","display_name":"Working Capital and Financial Performance","score":0.9139999747276306,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/risk-financing","display_name":"Risk financing","score":0.7289194464683533},{"id":"https://openalex.org/keywords/internal-financing","display_name":"Internal financing","score":0.7114650011062622},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.692702054977417},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.6464680433273315},{"id":"https://openalex.org/keywords/external-financing","display_name":"External financing","score":0.4138167202472687},{"id":"https://openalex.org/keywords/risk-management","display_name":"Risk management","score":0.09741544723510742},{"id":"https://openalex.org/keywords/debt","display_name":"Debt","score":0.08094355463981628}],"concepts":[{"id":"https://openalex.org/C78872851","wikidata":"https://www.wikidata.org/wiki/Q7336274","display_name":"Risk financing","level":4,"score":0.7289194464683533},{"id":"https://openalex.org/C47702881","wikidata":"https://www.wikidata.org/wiki/Q1303118","display_name":"Internal financing","level":3,"score":0.7114650011062622},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.692702054977417},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6464680433273315},{"id":"https://openalex.org/C2778776786","wikidata":"https://www.wikidata.org/wiki/Q1455109","display_name":"External financing","level":3,"score":0.4138167202472687},{"id":"https://openalex.org/C32896092","wikidata":"https://www.wikidata.org/wiki/Q189447","display_name":"Risk management","level":2,"score":0.09741544723510742},{"id":"https://openalex.org/C120527767","wikidata":"https://www.wikidata.org/wiki/Q3196867","display_name":"Debt","level":2,"score":0.08094355463981628},{"id":"https://openalex.org/C43071985","wikidata":"https://www.wikidata.org/wiki/Q2906013","display_name":"Financial risk management","level":3,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.3390/systems13070531","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13070531","pdf_url":"https://www.mdpi.com/2079-8954/13/7/531/pdf?version=1751363133","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:e31de6df4ca04f3e91d02ef31c68f18b","is_oa":true,"landing_page_url":"https://doaj.org/article/e31de6df4ca04f3e91d02ef31c68f18b","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Systems, Vol 13, Iss 7, p 531 (2025)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.3390/systems13070531","is_oa":true,"landing_page_url":"https://doi.org/10.3390/systems13070531","pdf_url":"https://www.mdpi.com/2079-8954/13/7/531/pdf?version=1751363133","source":{"id":"https://openalex.org/S4210219410","display_name":"Systems","issn_l":"2079-8954","issn":["2079-8954"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310310987","host_organization_name":"Multidisciplinary Digital Publishing Institute","host_organization_lineage":["https://openalex.org/P4310310987"],"host_organization_lineage_names":["Multidisciplinary Digital Publishing Institute"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Systems","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[{"id":"https://openalex.org/G2086746684","display_name":null,"funder_award_id":"23CGL040","funder_id":"https://openalex.org/F4320327557","funder_display_name":"National Office for Philosophy and Social Sciences"},{"id":"https://openalex.org/G8130809531","display_name":null,"funder_award_id":"23CGL040","funder_id":"https://openalex.org/F4320335869","funder_display_name":"National Social Science Fund of China"}],"funders":[{"id":"https://openalex.org/F4320327557","display_name":"National Office for Philosophy and Social Sciences","ror":"https://ror.org/04m0ms912"},{"id":"https://openalex.org/F4320335869","display_name":"National Social Science Fund of China","ror":null}],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4411889314.pdf","grobid_xml":"https://content.openalex.org/works/W4411889314.grobid-xml"},"referenced_works_count":71,"referenced_works":["https://openalex.org/W1945114436","https://openalex.org/W1974128239","https://openalex.org/W1990700127","https://openalex.org/W2016884140","https://openalex.org/W2044192079","https://openalex.org/W2061770623","https://openalex.org/W2072450630","https://openalex.org/W2079860026","https://openalex.org/W2080905805","https://openalex.org/W2085543643","https://openalex.org/W2101392750","https://openalex.org/W2104052944","https://openalex.org/W2160235054","https://openalex.org/W2263390711","https://openalex.org/W2551122365","https://openalex.org/W2552263214","https://openalex.org/W2563778827","https://openalex.org/W2565529061","https://openalex.org/W2566262063","https://openalex.org/W2785537595","https://openalex.org/W2888301181","https://openalex.org/W2890718558","https://openalex.org/W2900567290","https://openalex.org/W2926845671","https://openalex.org/W2973739938","https://openalex.org/W2992124592","https://openalex.org/W3003288103","https://openalex.org/W3010922536","https://openalex.org/W3016907734","https://openalex.org/W3023598233","https://openalex.org/W3035904384","https://openalex.org/W3037707109","https://openalex.org/W3037777849","https://openalex.org/W3092368353","https://openalex.org/W3099841648","https://openalex.org/W3119953413","https://openalex.org/W3121478885","https://openalex.org/W3124703882","https://openalex.org/W3166145529","https://openalex.org/W3184337595","https://openalex.org/W3195702599","https://openalex.org/W3217747784","https://openalex.org/W4200597745","https://openalex.org/W4205993090","https://openalex.org/W4213171975","https://openalex.org/W4220703919","https://openalex.org/W4287511315","https://openalex.org/W4288447373","https://openalex.org/W4295346585","https://openalex.org/W4296850157","https://openalex.org/W4306759125","https://openalex.org/W4321324488","https://openalex.org/W4366977622","https://openalex.org/W4386898485","https://openalex.org/W4388162986","https://openalex.org/W4388185113","https://openalex.org/W4388849804","https://openalex.org/W4389615598","https://openalex.org/W4390401655","https://openalex.org/W4390831234","https://openalex.org/W4392563667","https://openalex.org/W4393050279","https://openalex.org/W4399169789","https://openalex.org/W4402134732","https://openalex.org/W4402989592","https://openalex.org/W4403015469","https://openalex.org/W4405443174","https://openalex.org/W4407814704","https://openalex.org/W4408091290","https://openalex.org/W4408370224","https://openalex.org/W4409178850"],"related_works":["https://openalex.org/W2390927912","https://openalex.org/W2372163523","https://openalex.org/W2367977786","https://openalex.org/W4281892484","https://openalex.org/W3122211031","https://openalex.org/W4395690775","https://openalex.org/W2388224455","https://openalex.org/W2349242500","https://openalex.org/W2354487705","https://openalex.org/W2348014617"],"abstract_inverted_index":{"Amidst":[0],"escalating":[1],"concerns":[2],"about":[3],"climate":[4],"change,":[5],"manufacturers":[6],"are":[7,104],"increasingly":[8],"pressured":[9],"to":[10,40],"adopt":[11],"a":[12,27,78],"low-carbon":[13,24],"supply":[14,202],"chain":[15,203],"(LCSC).":[16],"Financial":[17],"constraints":[18],"deter":[19],"numerous":[20],"companies":[21],"from":[22,37],"embracing":[23],"initiatives":[25],"in":[26,176],"competitive":[28,79,163],"landscape.":[29],"Inclusive":[30],"internal":[31,60],"financing":[32,61,65,75,175,206],"(IIF)":[33],"provides":[34,199],"operational":[35],"funds":[36],"capital-abundant":[38],"members":[39,53],"capital-constrained":[41,89],"members,":[42],"resolving":[43],"funding":[44],"shortages":[45],"internally":[46],"within":[47],"the":[48,72,82,97,122,153,162,166,180,190],"system.":[49],"However,":[50],"when":[51,173],"dominant":[52],"cannot":[54],"support":[55],"all":[56],"such":[57],"enterprises,":[58],"selective":[59],"(SIF)":[62],"or":[63],"hybrid":[64],"(HF)":[66],"becomes":[67,183],"necessary.":[68],"This":[69,192],"paper":[70],"studies":[71],"operation":[73],"and":[74,96,109,128,146,156,185,198,205],"strategies":[76],"of":[77,84,165,189],"LCSC.":[80],"Within":[81],"framework":[83],"an":[85],"LCSC":[86,195],"where":[87],"two":[88],"retailers":[90],"compete,":[91],"using":[92],"Stackelberg":[93],"game":[94],"theory":[95],"backward":[98],"induction":[99],"method,":[100],"three":[101],"game-theoretical":[102],"models":[103],"developed":[105],"under":[106],"IIF,":[107],"SIF,":[108],"HF.":[110],"The":[111],"results":[112],"indicate":[113],"that":[114,172],"increased":[115],"competition":[116,131],"intensity":[117,132],"reduces":[118,150],"product":[119,143],"sales":[120,144],"price,":[121],"manufacturer\u2019s":[123],"carbon":[124,139],"emission":[125,140],"reduction":[126,141],"level,":[127,142],"profit.":[129],"When":[130],"is":[133,186],"high,":[134],"SIF":[135],"more":[136],"effectively":[137],"enhances":[138,161],"quantity,":[145],"profit":[147],"acquisition.":[148],"HF":[149,177],"profits":[151],"for":[152,201],"allied":[154,181],"retailer":[155,182],"diminishes":[157],"its":[158],"competitiveness,":[159],"yet":[160],"strength":[164],"rival":[167],"retailer.":[168],"Numerical":[169],"analysis":[170],"demonstrates":[171],"equity":[174],"exceeds":[178],"0.546,":[179],"unprofitable":[184],"driven":[187],"out":[188],"market.":[191],"study":[193],"complements":[194],"finance":[196],"research":[197],"references":[200],"operations":[204],"strategy":[207],"formulation.":[208]},"counts_by_year":[{"year":2026,"cited_by_count":1}],"updated_date":"2026-04-10T15:06:20.359241","created_date":"2025-10-10T00:00:00"}