From the perspective of strategy,this paper uses A-share agricultural listed companies( 2011-2016) as samples to study the impact of strategic deviance on enterprise value,to explore whether customer concentration pla...From the perspective of strategy,this paper uses A-share agricultural listed companies( 2011-2016) as samples to study the impact of strategic deviance on enterprise value,to explore whether customer concentration plays a mediating effect. The results show that customer concentration plays a mediating effect in the relationship between strategic deviance and enterprise value. The strategic deviance is positively correlated with customer concentration and negatively correlated with enterprise value. The management of agricultural enterprises must pay attention to the customer relationship problems caused by strategic deviance,reduce the risk of enterprises,and gradually enhance the value of enterprises.展开更多
Taking the agricultural companies listed in the A-share markets in Shanghai and Shenzhen as samples,the relationship between customer concentration and corporate social responsibility was studied. In addition,the regu...Taking the agricultural companies listed in the A-share markets in Shanghai and Shenzhen as samples,the relationship between customer concentration and corporate social responsibility was studied. In addition,the regulatory role of property rights and regional factors was examined. The results showed that the degree of customer concentration is negatively related to the degree of fulfillment of corporate social responsibility; for companies with different property rights and regions,there are significant differences in the influence of customer concentration on corporate social responsibility. In non-state-owned enterprises and mid-western areas,customer concentration has a greater impact on corporate social responsibility.展开更多
Customers are one of the key external stakeholders for a company.Using Chinese listed companies’data from 2007 to 2015,this paper examines the impact of customer concentration on information disclosure from the pers...Customers are one of the key external stakeholders for a company.Using Chinese listed companies’data from 2007 to 2015,this paper examines the impact of customer concentration on information disclosure from the perspective of management earnings forecast.Empirical results show that a more concentrated customer base induces companies to disclose more positive earnings forecast.In addition,the positive association between customer concentration and management earnings forecast is more pronounced with higher economic policy uncertainty.Further analyses reveal that companies issue more positive earnings forecast to reduce the financing risk and protect their relationshipspecific investment.Also,customer concentration reduces the consistency of earnings forecast since the deviation of the forecast performance and the actual performance is greater.This paper enriches the literature on the determinants of management earnings forecast and the effects of stakeholders on corporate financial behaviour.Our findings also provide implications for investors,regulators,and various stakeholders to understand management earnings forecast decisions.展开更多
文摘From the perspective of strategy,this paper uses A-share agricultural listed companies( 2011-2016) as samples to study the impact of strategic deviance on enterprise value,to explore whether customer concentration plays a mediating effect. The results show that customer concentration plays a mediating effect in the relationship between strategic deviance and enterprise value. The strategic deviance is positively correlated with customer concentration and negatively correlated with enterprise value. The management of agricultural enterprises must pay attention to the customer relationship problems caused by strategic deviance,reduce the risk of enterprises,and gradually enhance the value of enterprises.
文摘Taking the agricultural companies listed in the A-share markets in Shanghai and Shenzhen as samples,the relationship between customer concentration and corporate social responsibility was studied. In addition,the regulatory role of property rights and regional factors was examined. The results showed that the degree of customer concentration is negatively related to the degree of fulfillment of corporate social responsibility; for companies with different property rights and regions,there are significant differences in the influence of customer concentration on corporate social responsibility. In non-state-owned enterprises and mid-western areas,customer concentration has a greater impact on corporate social responsibility.
基金This research is supported by the Fundamental Research Funds for the Central U niversities and the Research Funds of Renmin U niversity of China(China)[ Grant no.19XNL014].
文摘Customers are one of the key external stakeholders for a company.Using Chinese listed companies’data from 2007 to 2015,this paper examines the impact of customer concentration on information disclosure from the perspective of management earnings forecast.Empirical results show that a more concentrated customer base induces companies to disclose more positive earnings forecast.In addition,the positive association between customer concentration and management earnings forecast is more pronounced with higher economic policy uncertainty.Further analyses reveal that companies issue more positive earnings forecast to reduce the financing risk and protect their relationshipspecific investment.Also,customer concentration reduces the consistency of earnings forecast since the deviation of the forecast performance and the actual performance is greater.This paper enriches the literature on the determinants of management earnings forecast and the effects of stakeholders on corporate financial behaviour.Our findings also provide implications for investors,regulators,and various stakeholders to understand management earnings forecast decisions.
