供应链结构影响企业创新的实证分析  

An Empirical Study on the Influence of Supply Chain Structure on Corporate Innovation

作　　者：费洁 殷俊明 朱思琪 FEI Jie;YIN Junming;ZHU Siqi

机构地区：[1]安徽审计职业学院审计学院,安徽合肥230601 [2]南京信息工程大学商学院,江苏南京210044 [3]苏州大学商学院,江苏苏州215031

出　　处：《芜湖职业技术学院学报》2025年第1期59-66,共8页Journal of Wuhu Institute of Technology

基　　金：2021年国家社科基金项目“世界百年未有之大变局下供应链中断的财务影响及资本市场效应研究”(项目号:21BGL008);2023年江苏省社科联财经专项重点项目“制造企业数绿融合发展战略及其管理会计创新研究”(项目号:23SCA-002);2022年安徽省高等学校科研项目“内部审计开展碳排放审计的探究——以钢铁企业为例”(项目号:2022AH052943)。

摘　　要：企业创新离不开资金的支持,而融资约束的存在使得企业通过商业贷款获取资金支持的难度日益增加。与此同时,供应链金融的发展则为企业通过商业信用融资提供了新的可能。以2016—2020年A股上市公司为样本,探讨供应链结构与企业创新之间的关系及商业信用融资对两者关系的调节作用,实证结果发现:企业创新受到供应链结构的影响,与供应商集中度和客户集中度负相关,与供应链稳定度正相关,且商业信用融资能够有效缓解供应商和客户集中度对企业创新的负向影响,强化供应链稳定度对企业创新的正向影响。供应链结构对企业创新的影响在不同融资约束下和不同产权结构下均有变化。Corporate innovation cannot do without financial support,while financing constraints lead to increasing difficulty in that enterprises obtain financial support through commercial loan.Meanwhile,supply chain finance serves as a new possible way for enterprises to finance through commercial credit.With the A-share listed companies from 2016 to 2020 as samples,the relationship between supply chain structure and corporate innovation,as well as the moderating effect of commercial credit financing on the relationship between both above,were discussed.Empirical results show that corporate innovation is influenced by supply chain structure,negatively correlated with supplier concentration and customer concentration,and positively correlated with supply chain stability.Commercial credit financing can effectively alleviate negative impact of supplier and customer concentration on corporate innovation,and strengthen the positive impact of supply chain stability on corporate innovation.The impact of supply chain structure on corporate innovation varies under different financing constraints and property right structures.

关 键 词：供应链结构 融资约束 企业创新 商业信用 

分 类 号：F273.1[经济管理—企业管理]