政府大客户与企业风险承担

Big Government Customers and Risk-Taking of Enterprises

文章通过对2007-2019年全部上市A股的实证分析,从供应链的角度研究了政府大客户对企业风险承担的影响。研究发现:政府大客户与企业风险承担呈显著正相关关系,即政府大客户显著提高了企业风险承担的能力。进一步研究发现,在国有企业或者融资约束较强的企业中,政府大客户对企业风险承担的促进作用更显著。文章对提高供应链整合和上下游企业资源配置效率提供了参考。

Based on the empirical analysis of all listed A-shares from 2007 to 2019,this paper studies the influence ofbig government customers on corporate risk-taking from the perspective of supply chain. It is found that there is a significant positive correlation between government large customers and enterprise risk taking, that is, the big government customers significantly improve the risk-taking capability of the enterprises. Further study found that in the state-owned enterprises or enterprises with strong financing constraints, the big government customers have a more significant role in promoting corporate risk-taking capability. This paper provides a reference for improving supply chain integration and resource allocation efficiency of upstream and downstream enterprises.