供应链政策与供应链效率——基于供应链创新与应用的准自然实验

Supply Chain Policy and Supply Chain Efficiency——A Quasi Natural Experiment Based on Supply Chain Innovation and Application

提升供应链效率是确保国民经济循环畅通的关键,亦是推动经济高质量发展的重要路径。借助供应链创新与应用试点政策的准自然实验,以2013—2022年A股上市公司为研究样本,实证检验试点政策对供应链效率的影响。研究发现:供应链创新与应用试点政策的实施可以提高供应链效率。机制检验结果表明,试点政策主要通过提高创新效率、优化内部控制水平和缓解融资约束来提高供应链效率。异质性检验结果表明,对于国有企业、供应链关系紧密程度低、知识产权保护强地区以及所处试点城市的企业,试点政策对供应链效率提升作用更为显著。拓展分析发现,试点政策存在行业溢出效应和经济后果,试点政策对同行业非试点企业供应链效率具有显著的促进作用,同时试点政策可以通过提高供应链效率促进企业绩效。

Improving supply chain efficiency is the key to ensuring the smooth circulation of the national economy,and it is also an important path to promote high-quality economic development.With the help of a quasi-natural experiment of supply chain innovation and application pilot policies,the impact of pilot policies on supply chain efficiency is empirically tested by taking class A-share listed companies from 2013 to 2022 as research samples.The study found that the implementation of pilot policies for supply chain innovation and application can improve supply chain efficiency.The mechanism test results show that the pilot policies mainly improve supply chain efficiency by improving innovation efficiency,optimizing the level of internal control,and alleviating financing constraints.The heterogeneity test results show that for enterprises in state-owned enterprises,areas with low supply chain ties,strong intellectual property protection,and pilot cities,the pilot policies have a more significant effect on supply chain efficiency.The extended analysis found that the pilot policies have industry spillover effects and economic consequences.The pilot policies have a significant role in promoting supply chain efficiency of non-pilot enterprises in the same industry.At the same time,the pilot policies can promote enterprise performance by improving supply chain efficiency.