供应链集中度、商业信用融资与企业创新

Supply Chain Concentration,Commercial Credit Financing and Enterprise Innovation

文章基于供应链上下游的纵向关系,从供应商集中度、客户集中度和双向集中度三个维度分析了供应链集中度对企业创新的影响以及商业信用融资的中介效应。结果表明:供应链三个维度的集中度对企业创新均有显著的负向影响,其中,双向集中度对企业创新的负向影响最大,客户集中度对企业创新的负向影响最小;非国有企业创新受客户集中度和双向集中度的负向影响更强,而国有企业创新受供应商集中度的负向影响更强,但供应链三个维度的集中度对创新的负向影响只作用于强行业竞争性企业,对弱行业竞争性企业创新没有产生显著的负向影响;商业信用融资是供应商集中度和客户集中度影响企业创新的中介路径,但不是双向集中度影响企业创新的中介路径。供应商集中度通过减少源自上游供应商的商业信用净融资来抑制企业创新,客户集中度通过减少源自下游客户的商业信用净融资来抑制企业创新。

Based on the vertical relationship between the upstream and downstream of the supply chain, this paper analyzes the impact of supply chain concentration on enterprise innovation and the intermediary effect of commercial credit financing from the three dimensions of supplier concentration, customer concentration and two-way concentration. The results show that: The concentrations of the three dimensions of the supply chain all have a significant negative impact on enterprise innovation, among which the two-way concentration has the greatest negative impact on enterprise innovation, and the customer concentration has the least negative impact on enterprise innovation;the innovation of non-state-owned enterprises is more negatively affected by customer concentration and twoway concentration while the innovation of state-owned enterprises is more negatively affected by supplier concentration, but the negative impact of the concentration of the three dimensions of the supply chain on innovation is only on enterprises in the highly competitive industry, and insignificantly on the innovation of enterprises in the weakly competitive industry;commercial credit financing is the intermediary path of supplier concentration and customer concentration affecting enterprise innovation, but not the intermediary path of two-way concentration affecting enterprise innovation. Supplier concentration inhibits enterprise innovation by reducing the net financing of commercial credit from upstream suppliers, and customer concentration inhibits enterprise innovation by reducing the net financing of commercial credit from downstream customers.