快讯供应链上的传染性股价暴跌

IF 4.8 3区 管理学 Q1 ENGINEERING, MANUFACTURING
Buhui Qiu, Fangming Xu, Andy C. L. Yeung, Cheng (Colin) Zeng
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引用次数: 0

摘要

尽管风险管理被广泛视为供应链(SC)管理中的一个重要课题,但很少有研究探讨风险因素在供应链网络中的传染效应。通过使用股价暴跌作为风险因素的指标,我们的研究揭示了股价暴跌风险可以在长达两周的延迟内从主要客户传递到供应商。我们发现,供应商的信息不透明是导致股价暴跌传染延迟的潜在因素。我们还发现,随着客户重要性的增加,传染效应会变得更加明显。此外,与客户财务事件相比,客户运营事件对供应商的传染效应更为明显。此外,我们还发现,供应商倾向于在其主要客户股价暴跌后采取战略措施,包括分散客户群、提高运营效率和改善产品质量。然而,在这些措施中,只有提高运营效率能有效缓解客户股价暴跌对供应商的不利影响。总之,我们的研究结果为了解风险因素在供应链网络中的分布提供了新的视角,凸显了运营改进在增强企业抵御供应链风险能力方面的关键作用。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
EXPRESS: Contagious Stock Price Crashes along the Supply Chain
Although risk management is widely regarded as an important topic within supply chain (SC) management, little research studies the contagious effect of risk factors along SC networks. By using stock price crashes as an indicator of risk factors, our study reveals that stock price crash risk can be transmitted from major customers to suppliers with a delay of up to two weeks. We show that the information opacity of suppliers is a factor that potentially contributes to the delayed crash contagion. We also find that the contagion effect becomes more pronounced as the importance of customers increases. Moreover, customer operational incidents have a more pronounced contagion effect on suppliers compared to customer financial incidents. Additionally, we find that suppliers tend to take strategic measures following the stock price crashes of their major customers, including diversifying their customer base, enhancing operational efficiency, and improving product quality. However, among these actions, only the improvement of operational efficiency effectively mitigates the adverse impact of customer stock price crashes on suppliers. Overall, our findings provide new insight into the distribution of risk factors across SC networks, highlighting the critical role of operational improvements in bolstering the resilience of firms to SC risks.
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来源期刊
Production and Operations Management
Production and Operations Management 管理科学-工程:制造
CiteScore
7.50
自引率
16.00%
发文量
278
审稿时长
24 months
期刊介绍: The mission of Production and Operations Management is to serve as the flagship research journal in operations management in manufacturing and services. The journal publishes scientific research into the problems, interest, and concerns of managers who manage product and process design, operations, and supply chains. It covers all topics in product and process design, operations, and supply chain management and welcomes papers using any research paradigm.
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