As nonrecourse project finance (rather than financing on a sovereign basis) is becoming more prevalent worldwide, financing institutions have to collaborate more closely with firms to optimize capacity-investment and financing decisions. Under this background, this paper presents a stylized Stackelberg games model, taking into account the firm's capacity investment as well as the bank's interest rate and funding ratio decisions. Consortium structures between bank and firm are formalized into five modes based on industry practice, namely, the integrated consortium, pure shareholder funding, bank as leader, full coordination, and bank as follower. The optimality and equilibrium of each of the five modes are analytically derived, and their existence and uniqueness are demonstrated. Valuable economic insights are obtained through both modeling analysis and numerical experiments, with the main findings including the following: (i) a lack of bank financing leads to insufficient capacity investment and poor consortium performance; (ii) interest rate and funding ratio play important but different roles in the bank's risk management; (iii) the bank's proactivity in leading and coordinating the consortium is critical for the two parties' overall performance; and (iv) if the bank is the follower, the firm's capacity decision is irrelevant to the bank's loan contract, and the consortium cannot be coordinated to the first-best level of performance.
With the development of the Internet and the strong support of national policies, network technology has been widely used in all fields, and the way of information release is not only faster but also more extensive. With the strong support of the state, network technology has been widely used in all areas of society, and the number of Internet users is also increasing, and rural homestay tourism is a new force in the development of rural tourism. Rural homestay tourism plays a unique role in rural employment increase, active industry, active environment, active culture, and other aspects, so more measures should be taken to promote the development of rural homestay tourism. Therefore, by combining the above two points, rural homestay tourism also needs to carry out practical changes. The combination of Internet and rural tourism marketing is a new marketing mode, which opens up a new way for rural tourism product marketing innovation. Due to the huge market demand and various policy support at the national level, the homestay industry has become a breakthrough point for local activation. The author conducted a survey on the situation of “Internet +” rural tourism, guided and analyzed the results, found out the problems existing in the Internet marketing of rural tourism products, and put forward the strategies to deal with the Internet marketing of rural tourism products.
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