供应链话语权会影响企业的投资偏好吗？

IF 7.4 2区经济学 Q1 BUSINESS, FINANCE

Finance Research Letters Pub Date : 2024-09-05 DOI:10.1016/j.frl.2024.106055

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引用次数: 0

摘要

本研究利用 2012 年至 2022 年中国 A 股上市公司的数据，探讨了供应链声音对企业投资偏好的影响。研究结果表明，供应链声音对企业投资偏好的影响显著增加，这表明改善供应链沟通可以鼓励企业积极参与金融投资。虽然提高供应链的影响力可以提高实际投资水平，但正如机制检验结果所示，它无法阻止企业金融化的进程。此外，供应链声音对企业投资偏好的有利影响是通过现金流机制实现的。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Does supply chain voice influence firms’ investment preferences?

Using data from Chinese A-share listed companies from 2012 to 2022, this study examines the influence of supply chain voice on firms’ investment preferences. Results reveal a notable increase in this influence, demonstrating how improving communication throughout the supply chain can encourage companies to participate actively in financial investments. Although increasing the supply chain's influence can boost actual investment levels, it cannot stop the process of corporate financialization, as demonstrated by the mechanism test results. Furthermore, the favorable impacts of the supply chain voice on companies’ investment preferences are attained through the cash flow mechanism.

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来源期刊

Finance Research Letters BUSINESS, FINANCE-

CiteScore

11.10

自引率

14.40%

发文量

863

期刊介绍： Finance Research Letters welcomes submissions across all areas of finance, aiming for rapid publication of significant new findings. The journal particularly encourages papers that provide insight into the replicability of established results, examine the cross-national applicability of previous findings, challenge existing methodologies, or demonstrate methodological contingencies. Papers are invited in the following areas: Actuarial studies Alternative investments Asset Pricing Bankruptcy and liquidation Banks and other Depository Institutions Behavioral and experimental finance Bibliometric and Scientometric studies of finance Capital budgeting and corporate investment Capital markets and accounting Capital structure and payout policy Commodities Contagion, crises and interdependence Corporate governance Credit and fixed income markets and instruments Derivatives Emerging markets Energy Finance and Energy Markets Financial Econometrics Financial History Financial intermediation and money markets Financial markets and marketplaces Financial Mathematics and Econophysics Financial Regulation and Law Forecasting Frontier market studies International Finance Market efficiency, event studies Mergers, acquisitions and the market for corporate control Micro Finance Institutions Microstructure Non-bank Financial Institutions Personal Finance Portfolio choice and investing Real estate finance and investing Risk SME, Family and Entrepreneurial Finance