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In China, supply chain finance is still in infancy. However, it is the problems of information sharing, trust transfer, and risk management that have been making it difficult to meet the financing needs of small- and medium-sized enterprises (SMEs) in supply chain. The emerging blockchain technology, with its unique decentralization, traceability, and other characteristics, has found a digital solution for traditional supply chain finance. Although blockchain has attracted widespread attention and there are more general descriptions of blockchain application areas, there are few researches on the impact mechanisms of blockchain in-depth. Especially in the field of supply chain finance, there is little research on optimal incentive contract in online supply chain finance empowered by blockchain technology. Therefore, this paper explores the influence of blockchain technology maturity on participants, and thus finds the optimal incentive contract in online supply chain empowered by blockchain technology. Because of the mastery of blockchain technology, platforms believe they are well protected against risk and may behave irrationally. Therefore, this paper considers the overconfident behavior of blockchain supply chain finance platform in actual operation, and then applies the principal-agent model and incentive theory to design the incentive mechanism between platforms, banks, and central banks. Finally, numerical analyses show that overconfident behavior and the maturity of blockchain technology have an impact on the optimal decision for the whole supply chain. [ABSTRACT FROM AUTHOR]

Purpose – China’s government has been facing a trade-off in choosing between tenure reform and forest concessions to manage forest resources. The purpose of this paper is to investigate how the government’s policy choices can be affected by environmental benefits and the economic value of forests. Design/methodology/approach – We build a simple theoretical model and employ province-level data. Findings – The results show that the government will allocate less forestland to local people if environmental concerns are more important and privatize less forest if the economic benefits from forest are higher. Social implications – Therefore, the transformation of forest management policies reflects not only the government’s own preferences but also its gradual adjustment to the changing market and institutional environment. Originality/value – The present paper provides a regulation approach that complements the growing literature on forest resource management. [ABSTRACT FROM AUTHOR]