Dynamic financing strategy for authentic R&D in new energy vehicles – Investments based on blockchain technology
研究了新能源汽车企业在研发和区块链投资中的双边资金约束问题，通过微分博弈识别最优融资模式，并提出双向成本分担合同机制以促进供应链协同增长。
This study addresses the bilateral capital constraints for research and development (R&D) and blockchain (BC) investments in the new energy vehicles (NEV) sector. By employing differential game theory and continuous dynamic programming, it explores the pricing and technology investment strategies of NEV company under different financing portfolio modes and reveals the dynamic evolution of corporate goodwill and supply chain performance. From the perspectives of initial capital and financing interest rates, the study identifies the ‘bank loan + deferred payment’ mode as optimal. Leveraging its capital suitability and synergy between technology investment and pricing, this mode effectively promotes the simultaneous growth of supply chain goodwill and demand. By incorporating demand uncertainty, the study demonstrates that risk premiums induced by stochastic demand and risk aversion negatively impact the supply chain. Innovatively, a synergistic mechanism integrating bidirectional cost-sharing contract with financing is proposed. This mechanism not only incentivizes companies to increase technological investment but also balances consumer utility compensation, thereby establishing a virtuous cycle of optimized pricing and enhanced goodwill, ultimately achieving superior overall benefits compared to an unconstrained supply chain. The findings provide theoretical support and practical pathways for NEV companies in formulating technology innovation investment and dynamic optimization strategies.