供应链金融与企业战略变革：企业生命周期视角

IF 16.4 1区化学 Q1 CHEMISTRY, MULTIDISCIPLINARY

Accounts of Chemical Research Pub Date : 2024-06-27 DOI:10.1111/ecpo.12302

Chen Ma, Qian Liu, Ruiqing Cao, Zixuan Dai, Fei Guo

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引用次数: 0

摘要

我们利用上海和深圳证券交易所的专有数据集，研究了供应链金融（SCF）与核心企业战略变革之间的关系。我们的分析表明，供应链金融促进了成长型企业的战略变革，但阻碍了衰退型企业的战略变革，对成熟型企业没有显著影响。在成长型企业中，SCF 增强了风险承担能力，降低了股权成本，而在衰退型企业中，SCF 稳定了供应链，提高了客户集中度。在成熟企业中，SCF 会导致战略惰性。经济学测试表明，SCF有助于企业在其生命周期的不同阶段建立独特的竞争优势。

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Supply chain finance and firm strategic change: A firm life cycle perspective

Using a proprietary data set from the Shanghai and Shenzhen Stock Exchanges, we examine the relationship between Supply Chain Finance (SCF) and strategic change in core firms. Our analysis reveals that SCF facilitates strategic change in growing firms but hinders it in declining firms, with no significant effect on mature firms. In growing firms, SCF enhances risk-taking capacity and reduces equity costs, while in declining firms, it stabilizes supply chains and increases customer concentration. In mature firms, SCF leads to strategic inertia. Economic tests suggest SCF aids firms in establishing unique competitive advantages at various stages of their life cycles.

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来源期刊

Accounts of Chemical Research 化学-化学综合

CiteScore

31.40

自引率

1.10%

发文量

312

审稿时长

2 months

期刊介绍： Accounts of Chemical Research presents short, concise and critical articles offering easy-to-read overviews of basic research and applications in all areas of chemistry and biochemistry. These short reviews focus on research from the author’s own laboratory and are designed to teach the reader about a research project. In addition, Accounts of Chemical Research publishes commentaries that give an informed opinion on a current research problem. Special Issues online are devoted to a single topic of unusual activity and significance. Accounts of Chemical Research replaces the traditional article abstract with an article "Conspectus." These entries synopsize the research affording the reader a closer look at the content and significance of an article. Through this provision of a more detailed description of the article contents, the Conspectus enhances the article's discoverability by search engines and the exposure for the research.