供应链伙伴关系如何提升企业绩效?——基于产品市场竞争能力视角的解释

How Supply Chain Partnerships Improve Business Performance?Explanation from the Perspective of Product Market Competitiveness

利用A股1565家制造业上市公司2008—2017年的面板数据,基于产品市场竞争能力视角,实证研究供应链伙伴关系与企业绩效间的关系。通过构建OLS模型,验证了企业建立供应链伙伴关系有利于提升企业绩效,并且企业产品市场竞争能力在其中起部分中介作用,即供应链伙伴关系在一定程度上是因为提高企业产品市场竞争能力而提升了企业绩效,当对供应链上、下游伙伴关系分别验证时,以上传导机制依然成立;利用邹检验,进一步验证了供应链伙伴关系对企业绩效的正向影响在小规模企业和非国有企业中更为显著;另外,通过调节效应检验,发现当企业处于良好的内部治理或者激烈的外部竞争环境下时,这种正向影响效应也更为显著。

Using panel data of 1565 A-share listed manufacturing firms from 2008—2017, this paper empirically investigates the impact of supply chain partnerships on firm performance, based on the perspective of product market competitiveness. Through constructing the OLS model, the paper verifies that establishment of supply chain partnerships is beneficial to improve firm performance, and competitive ability of firm’s product market plays a partly mediating role in it, i.e., supply chain partnerships improve firm performance to a certain extent because of improving firm’s product market competitiveness, and the above transmission mechanism still holds when it is validated separately for upstream and downstream partnerships in the supply chain. The Chow Test further verifies that the positive effect of supply chain partnership on firm performance is more significant in small-scale and non-state-owned enterprises, and the moderating effect test finds out that this positive effect is also more significant when firms are under good internal governance or a highly competitive external environment.