Climate risks and corporate supply chain configuration:Evidence from China

IF 6.3 2区经济学 Q1 BUSINESS, FINANCE

Research in International Business and Finance Pub Date : 2025-03-08 DOI:10.1016/j.ribaf.2025.102852

Zhifang Su , Changzhe Deng , Yufang Feng , Yulu Bai , Zhikai Xu

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Abstract

This paper delves into the ramifications of climate risks on corporate supply chain configurations. Drawing on a dataset comprising China's A-share listed companies spanning the period from 2012 to 2022. The findings indicate that climate risks exert a notable influence in decreasing the concentration of upstream suppliers, downstream customers, and the entire supply chain, thereby fostering diversification within supply chain configurations. This promotion is primarily achieved through spurring corporate green innovation and improving ESG performance. Further research underscores that the diversification impact of climate risks on supply chain configurations is particularly accentuated in cities characterized by elevated climate change vulnerability and heightened public awareness of climate risks. This effect is also notably observed in downstream supply chains, industries with substantial capital intensity, firms facing lesser financing constraints, those with higher agency costs, and entities possessing greater levels of specialized investments.

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来源期刊

Research in International Business and Finance BUSINESS, FINANCE-

CiteScore

11.20

自引率

9.20%

发文量

240

期刊介绍： Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance