供应链信任衰退:网络安全风险与企业贸易信贷  

Supply Chain Trust Decline: Cybersecurity Risks and Corporate Trade Credit

作　　者：耿勇 向晓建 万攀兵 GENG Yong;XIANG Xiao-jian;WAN Pan-bing(School of Economics,Yunnan University;Economics and Management School,Wuhan University)

机构地区：[1]云南大学经济学院 [2]武汉大学经济与管理学院

出　　处：《中国工业经济》2024年第5期135-154,共20页China Industrial Economics

基　　金：国家自然科学基金青年项目“供应链视角下客户环境责任履行的绿色溢出效应:作用机理、价值实现与治理机制”(批准号72303203);教育部人文社会科学研究基金青年项目“基于政府数字化平台的公众参与环境治理效应研究:效果评估、机制探析和政策优化”(批准号23YJC790157);教育部人文社会科学研究基金青年项目“数字化嵌入对制造业企业绿色转型的影响研究:机制、效果及对策”(批准号22YJC790118)。

摘　　要：本文基于机器学习的文本分析方法,创新性地刻画中国企业网络安全风险程度,从供应链信任角度实证检验了网络安全风险对上下游企业贸易信贷决策和长期商业关系的影响。研究发现,网络安全风险显著降低了企业净贸易信贷。相较于供应商,客户对企业的网络安全风险更为敏感,企业净贸易信贷的减少主要由客户的避险动机驱动。而且,网络安全风险造成的声誉损失在数字化程度更高、商业秘密更多、非国有企业等事前网络安全风险敞口更大,以及市场势力更小、融资约束更大、管理层能力更低等事后损失可控能力更弱的企业中更为明显。进一步研究发现,网络安全风险还导致客户与企业间业务关系的动态调整,使客户将业务更多地配置到其他企业,引发供应链信任的长期衰退。加强数字治理、风险管理与企业交流,能够有效缓解网络安全风险造成的信任衰退。本文的研究发现对企业应对网络安全风险、稳定供应链合作关系具有重要的实践指导意义。With the rapid expansion of cyberspace and the fast development of information technology,cyberattacks have become increasingly commonplace.According to the survey of Cybersecurity Ventures,a world-renowned network economy research institution,the economic loss caused by cybercrimes is estimated to reach USD 10.5 trillion per year by 2025.The Chinese government attaches great importance to cybersecurity.General Secretary Xi Jinping profoundly pointed out that“without cybersecurity,there is no national security”.However,existing studies have paid insufficient attention to the cybersecurity issues faced by Chinese enterprises.At present,the digital economy has become an inevitable trend in China’s economy.It can be predicted that the cybersecurity risk exposure of Chinese enterprises will become increasingly prominent.In this context,accurately understanding the economic consequences of enterprise cybersecurity risks and exploring the effective governance strategies of enterprise cybersecurity risks can not only provide theoretical support for the formulation of cybersecurity-related policies in China but also provide new ideas for coping with future digital technology changes.Based on the text analysis method of machine learning,this paper innovatively depicts the cybersecurity risks of Chinese enterprises and empirically examines the impact of cybersecurity risks on the trade credit decision and long-term business relationship of upstream and downstream enterprises.This paper finds that cybersecurity risks significantly reduce corporate net trade credit and customers are more sensitive to enterprise cybersecurity risks than suppliers.The decrease in corporate net trade credit is mainly driven by customers’risk aversion motivation.In addition,the reputation loss caused by cybersecurity risks is more obvious in enterprises with greater exposure to cybersecurity risks,such as enterprises with higher digitalization or more trade secrets and non-state-owned enterprises,as well as in enterprises with a weaker a

关 键 词：网络安全风险 企业贸易信贷 供应链 文本分析 

分 类 号：F272[经济管理—企业管理]