客户集中度、行业发展周期与企业市场竞争力  

Customer Concentration,Industry Development Cycle and Market Competitiveness of Enterprises

作　　者：张进财 ZHANG Jin-cai(Institute of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era,Peking University Beijing 100871,China;College of Marxism,Qinghai University,Xining Qinghai 810016,China)

机构地区：[1]北京大学习近平新时代中国特色社会主义思想研究院,北京100871 [2]青海大学马克思主义学院,青海西宁810016

出　　处：《技术经济与管理研究》2024年第10期20-26,共7页Journal of Technical Economics & Management

摘　　要：选取2010—2021年制造业行业的上市公司数据,研究客户集中度对企业市场竞争力的影响,并进一步探讨行业发展周期与企业财务弹性的调节效应。实证发现,客户集中度对企业市场供给竞争力存在正向促进作用,而对企业市场地位竞争力存在负向抑制作用,企业表现出“增收不增位”的现象。此外,相对于成熟期和衰退期行业,处于成长周期的行业由于竞争更加激烈,客户集中度对企业市场竞争力的作用更强;而财务弹性高的企业具有更强的现金流,客户集中度对企业市场竞争力的作用均更弱。结论表明企业不能只停留在大客户带来的业绩增长,也要重视整体市场变化对企业地位的冲击。This article selects data from listed companies in the manufacturing industry from 2010 to 2021 to study the impact of customer concentration on market competitiveness of enterprises,and further explores the moderating effect of industry development cycles and corporate financial elasticity.Empirical evidence shows that customer concentration has a positive promoting effect on a company's market supply competitiveness,but a negative inhibitory effect on its market position competitiveness.Companies exhibit a phenomenon of"increasing income without increasing position".In addition,compared to mature and declining industries,industries in the growth cycle have a stronger impact on the competitiveness of both types of markets due to more intense competition and customer concentration;Enterprises with high financial resilience have stronger cash flow,and customer concentration has a weaker impact on the competitiveness of both types of markets for the enterprise.The conclusion indicates that enterprises should not only focus on the performance growth brought by large customers,but also pay attention to the impact of overall market changes on their position.

关 键 词：市场竞争力 客户集中度 行业发展周期 财务弹性 

分 类 号：F426[经济管理—产业经济]