客户风险对供应链关系持续性的影响

Impact of Customer Risk on the Duration of Supply Chain Relationship

以2003—2020年沪深A股上市公司为研究样本,考察了客户风险对供应链关系持续性的影响。研究发现:客户风险与供应链关系持续性之间存在显著负相关关系,表明企业存在“风险规避”行为;供应链关系互动程度和供应链关系依存程度会弱化客户风险与供应链关系持续性间的负向关系;机制检验结果表明,供应链风险传染会降低企业与风险客户维系供应链关系的意愿;企业更可能中断与大客户、低销售潜力客户的供应链关系;企业融资约束越高、具有法律背景董事、经济政策不确定性越高、货币政策从紧时期,客户风险与供应链关系持续性的负向关系越显著。

Taking A-share listed companies in Shanghai and Shenzhen from 2003 to 2020 as samples,this study investigated the impact of customer risk on the duration of supply chain relationship.The study found that customer risk was negatively correlated with supply chain relationship,indicating that there was“risk aversion”behavior.Both the interaction degree and dependence degree of supply chain relationship can weaken the negative relationship between customer risk and the duration of supply chain relationship.Mechanism test showed that,the risk contagion of supply chain can reduce the willingness to maintain the supply chain relationship between enterprises and risky customers.In addition,enterprises were more likely to interrupt the supply chain relationship with large customers and the customers with lower sales potential.Furthermore,above negative relationship between customer risk and the duration of supply chain relationship was more significant in the enterprises with stronger financing constraints,the directors having legal background,as well as in the periods of the greater uncertainty of economic policy and tighter monetary policy.