资质认定与企业供应链伙伴数量——基于专精特新“小巨人”企业的准自然实验

Qualification Accreditation and the Number of Corporate Supply Chain Partners——A Quasi-natural Experiment on Specialized and Sophisticated“Little Giant”Enterprises

优化整合供应链伙伴关系是中国式现代化背景下企业实现高质量发展的有效途径。本文以专精特新“小巨人”资质认定政策作为一项准自然实验,构建双重差分模型探究专精特新“小巨人”企业资质认定对供应链伙伴数量的影响效应。研究发现,专精特新“小巨人”资质认定显著增加了企业供应链伙伴数量。机制检验表明,专精特新“小巨人”资质认定通过提升市场关注度、推动实施战略变革以及增加企业商业信用三条途径影响企业供应链伙伴数量。进一步分析表明,专精特新“小巨人”资质认定对企业供应链伙伴数量的提升效应在独立董事规模较大以及企业所在地区经济发展水平比较高的样本中更为显著。通过探究供应链伙伴数量增加的经济后果发现,供应链伙伴数量对企业的创新绩效和财务绩效都有显著的正向影响。本文研究结论从供应链伙伴数量角度丰富了信号理论的研究,也为政府资质认定政策助推中小企业优化供应链伙伴关系提供重要的经验证据。

Under the background of Chinese-style modernization,optimizing and integrating collaborative relationship among supply chain partners has been an effective way to realize enterprises'high-quality development.We take the accreditation of specialized and sophisticated"little giant"qualification as a quasi-natural experiment and construct a difference-in-difference model to explore the influence of the accreditation on the number of supply chain partners.The results indicate that the accreditation has a significantly positive impact on the number of supply chain partners.The mechanism tests suggest that the policy affects the number of supply chain partners through enhancing market attention,promoting the implementation of strategic changes,and improving the commercial credit.Further analysis indicates that the effect of the accreditation on the number of supply chain partners is more pronounced in the subsamples with a large number of independent directors and a relatively developed economic level of the region where the enterprise is located.Based on the examination of economic consequences,we provide evidence that the number of supply chain partners has positive impacts on innovative performance and financial performance.Our results contribute to the signaling theory from the perspective of the number of supply chain partners,and also provide important empirical evidence for the effect of the government's accreditation on optimizing the supply chain partnerships for the small and medium enterprises.