企业数字化采购如何影响商业信用融资  

The Impacts of Enterprises'Digital Procurement on Commercial Credit Financing

作　　者：许江波[1] 武瑛 卿小权[2] XU Jiangbo;WU Ying;QING Xiaoquan(Capital University of Economics and Business,100070)

机构地区：[1]首都经济贸易大学会计学院党委,100070 [2]首都经济贸易大学会计学院,100070

出　　处：《财贸经济》2024年第12期89-106,共18页Finance & Trade Economics

基　　金：国家社会科学基金项目“杠杆监管对国有企业财务行为的影响机理研究”(20BCL072)。

摘　　要：本文基于中国A股上市公司样本数据,从采购平台视角构建企业数字化采购的度量指标,实证考察企业数字化采购对商业信用融资的影响。研究发现,企业开展数字化采购有助于提升商业信用融资水平。机制检验表明,企业数字化采购通过提高信息透明度以增强供应商的信任、降低经营风险以减少供应商的担忧、降低供应商集中度以弱化其谈判地位,从而推动供应商增加信用配给,提升企业商业信用融资水平。进一步地,企业数字化采购对商业信用融资的正向作用在供应链运营环境较好和地区社会信任水平较高时更为明显。企业数字化采购在提升商业信用融资水平后,可以进一步加快其资本结构调整速度。本文从商业信用融资的视角拓展了企业数字化采购的财务治理效应及其影响机理的研究,对企业积极开展数字化采购,进而加快供应链数字化建设具有重要启示。The digital transformation of enterprises is crucial for accelerating the development of the digital economy and enabling high-quality development of enterprises.However,this transformation cannot be achieved overnight and requires significant capital investment and unified strategic planning.Research on the digital transformation and its economic consequences in specific fields,especially the implementation of corporate financing,is more in line with the goals and actual needs of digital transformation.The effectiveness of the digital transformation of enterprises mainly depends on that of supply chains,with digital procurement as its core component.If digital procurement promotes supply chain cooperation and optimizes fund management decisions,it can serve as a vital entry point for broader digital transformation efforts,ultimately supporting the overall digital transformation of enterprises.In response to the strategic arrangements made by the Party Central Committee and the State Council to promote supply chain innovation and application,enterprises have adopted digital procurement platforms to upgrade their procurement models.Can digital procurement promote the overall digital transformation?Considering that digital procurement directly changes suppliers'behaviors such as bidding,quotation and competition,which will affect suppliers'credit rationing decisions,the research on the economic impact of digital procurement from the perspective of commercial credit financing will help us answer this question.To this end,this paper conducts an empirical study using data from China's A-share listed companies between 2007 and 2021 and finds that digital procurement improves commercial credit financing.The conclusion remains robust across various tests.Mechanism analysis shows that digital procurement produces information effects,risk reduction effects and supplier competition effects,thus promoting suppliers to make credit rationing decisions,and then improving the level of commercial credit financing.Further research

关 键 词：数字化采购 商业信用融资 信息透明度 经营风险 供应商集中度 

分 类 号：F230[经济管理—会计学] F275[经济管理—国民经济]