供应链优势企业数字化转型的双边溢出效应研究  

A Research on the Bilateral Spillover Effect of the Digital Transformation of Dominant Enterprises in the Supply Chain

作　　者：魏娟 史亚雅 叶文平 顾超成 Wei Juan;Shi Yaya;Ye Wenping;Gu Chaocheng(School of Management,Guangdong University of Technology,Guangzhou 510520,China;School of Accounting,Shandong University of Finance and Economics,Jinan 250014,China;School of Management,Jinan University,Guangzhou 510632,China)

机构地区：[1]广东工业大学管理学院,广东广州510520 [2]山东财经大学会计学院,山东济南250014 [3]暨南大学管理学院,广东广州510632

出　　处：《财经研究》2025年第1期78-93,共16页Journal of Finance and Economics

基　　金：国家自然科学基金重点国际(地区)合作研究项目(71810107002);国家自然科学基金项目(72272063);山东省自然科学基金项目(ZR2022QG055);广东省哲学社会科学规划共建项目(GD23XYJ20);广东省基础与应用基础研究基金项目(2024A1515011265);广州市科技计划项目(2024A04J4310,2025A04J3950);中央高校基本科研业务费专项资金资助(23JNQMX14)。

摘　　要：数字化转型在不同企业间的显著差异严重制约了供应链上下游企业的数字化协同发展。在此背景下,如何充分发挥供应链优势企业的引领作用,提升供应链整体数字化水平,成为亟待解决的关键问题。文章基于2007—2020年中国沪深A股上市公司的数据,考察了供应链优势企业对主要供应商和客户数字化转型的双边溢出效应。研究表明,供应链优势企业的数字化转型显著提升了主要供应商和客户的数字化水平,其核心机制在于优势企业通过推动主要供应商的数字技术创新和主要客户的数字资产投资,实现了数字化能力的传导。进一步研究发现,当优势企业与主要供应商地理距离较近、聘用共同审计师,或者优势企业所在地开通高铁时,供应链优势企业对主要供应商数字化转型的溢出效应更加显著;当客户所在地开通高铁时,优势企业数字化转型对主要客户的促进作用也更加明显。此外,供应链数字化转型的溢出效应显著提升了优势企业的库存管理效率,但对主要供应商或客户的影响相对有限。文章从生态系统战略视角深化和拓展了企业数字化转型的内在机理,为应对供应链上下游企业数字化转型不均衡问题提供了新的理论洞见;同时,研究结论为推动产业链供应链现代化、实现供应链整体数字化转型提供了重要的政策启示。The“chain”digital transformation,in which dominant enterprises in the supply chain are“chain masters”and upstream and downstream enterprises participate in it,is an inevitable choice to realize the modernization of the industrial chain.However,there is a huge gap in digital transformation between different enterprises,which restricts the digital collaboration of upstream and downstream enterprises in the supply chain.How to take advantage of the leading role of dominant enterprises in the supply chain and improve the digitalization level of upstream and downstream enterprises is particularly critical.Using the data of China’s A-shares listed companies from 2007 to 2020,this paper examines the bilateral spillover effect of dominant enterprises in the supply chain on the digital transformation of major suppliers and customers.The results show that the digital transformation of dominant enterprises in the supply chain significantly improves the digitalization level of major suppliers or customers;the main mechanism is that digital transformation promotes the digital technology innovation of major suppliers and the digital asset investment of major customers.Furthermore,the spillover effect on the digital transformation of major suppliers is more significant when dominant enterprises are geographically close to major suppliers,employs common auditors,and are located with high-speed rail services.Finally,the spillover effect of digital transformation improves the efficiency of inventory management in dominant enterprises,with a limited impact on major suppliers or major customers.The contributions of this paper are as follows:First,in the context of the prominent resource advantages of“chain masters”in the supply chain,it extends the research on the impact of“chain masters”on partners to enterprise digital transformation.Second,from the perspective of ecosystem structure,it examines the bilateral impact of the digital transformation of dominant enterprises on supply chain partners,providing a new per

关 键 词：供应链优势企业 企业数字化转型 溢出效应 双边影响 

分 类 号：F275[经济管理—企业管理] F425[经济管理—国民经济]