供应链结构与研发投入:促进还是抑制?

Supply Chain Structure and R&D Investment:Promotion or Inhibition?

基于供应链管理理论,采用2012—2022年中国体育制造业A股上市公司的数据为研究样本,对企业供应链结构与研发投入之间的关系进行实证分析。研究表明,供应链结构的3个关键维度(供应商集中度、客户集中度以及供应链整体集中度)均对企业的研发投入产生负向影响,主要通过风险承担的路径体现,而非传统的交易成本路径。此外,异质性结果表明,供应链结构对研发投入的作用存在显著的异质性。具体而言,客户集中度对研发投入的影响存在行业竞争程度、市场优势地位以及系统性风险异质性;供应商集中度对研发投入的影响存在行业竞争程度和系统性风险异质性;供应链整体集中度对研发投入的影响存在市场优势地位异质性。这不仅揭示了体育制造业企业研发投入的影响机制,还为促进创新链、产业链、资金链与人才链的深度融合提供了宝贵的启示和建议。

Based on the supply chain management theory,the data of A-share listed companies in China’s sports manufacturing industry from 2012 to 2022 are adopted as research samples.This study makes an empirical analysis of the relationship between supply chain structure and research and development investment.The results show that the three key dimensions of supply chain structure(supplier concentration,customer concentration and supply chain concentration)have a negative impact on the research and development investment of enterprises.It is mainly reflected through the way of risk taking,rather than the traditional transaction cost path.In addition,the heterogeneity results show that there is significant heterogeneity in the effect of supply chain structure on the research and development investment.Specifically,the influence of customer concentration on the research and development includes industry competition degree,market advantage position and systematic risk heterogeneity.The influence of supplier concentration on the research and development investment exhibits heterogeneity in terms of industry competition intensity and systematic risk.The influence of overall supplier concentration on the research and development investment exhibits heterogeneity in terms of market dominance.This not only reveals the influence mechanism of the research and development investment of sports manufacturing enterprises,but also provides valuable inspiration and suggestions for promoting the deep integration of innovation chain,industrial chain,capital chain and talent chain.