The Evolutionary Path of Value Co-Creation Behavior in Construction Projects Under the Construction Supply Chain Finance Context

Shaotong Zhou, Jianjun She (), Cong Lu and Yuting Xie
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Shaotong Zhou: School of Civil Engineering, Nanjing Tech University, Nanjing 211816, China
Jianjun She: School of Civil Engineering, Nanjing Tech University, Nanjing 211816, China
Cong Lu: School of Civil Engineering, Nanjing Tech University, Nanjing 211816, China
Yuting Xie: School of Civil Engineering, Nanjing Tech University, Nanjing 211816, China

Sustainability, 2025, vol. 17, issue 10, 1-22

Abstract: The construction industry’s small and medium-sized enterprises (SMEs) face significant financial difficulties, exacerbated by disruptions such as COVID-19. Traditional supply chain finance models, relying on core enterprise credit, fail to address the dynamic nature of this sector. This study proposes a novel approach to value co-creation among stakeholders (core enterprises, suppliers, and financial institutions) through an evolutionary game theory framework. A stochastic model was developed to examine the strategic decisions of these parties, considering risk, penalty, and incentive coefficients. The results reveal that higher incentives encourage faster participation, while financial institutions are less sensitive to risk and penalty changes. This study provides new insights into promoting cooperative behavior and enhancing the sustainability of small and medium-sized enterprises (SMEs) in the construction industry through platform-based models.

Keywords: supply chain finance; value co-creation; evolutionary game (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2025
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