供应链去中心化如何影响企业创新?——基于经济政策不确定性视角被引量：2

Supply Chain Decentralization and Corporate Innovation:Based on the Perspective of Economic Policy Uncertainty

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摘要以我国A股上市公司2011—2021年数据为样本检验了供应链去中心化水平和经济政策不确定性对企业创新产出的影响。结果发现:供应链去中心化水平能够显著促进企业创新产出:和客户去中心化水平相比,供应商去中心化水平对企业创新产出的影响更大;然后,检验政策不确定性对公司创新的影响,发现经济政策不确定性会促进企业创新。同时,将经济政策不确定性与企业创新之间的关系置于供应链去中心化水平背景下研究,发现供应链去中心化能够加强经济政策不确定性对企业创新的促进作用,证实了去中心化的生产关系在供应链应用场景中具有显著的外部治理效应。此外,还发现供应链去中心化对企业创新的促进效应在私营企业样本和行业竞争性更高的企业样本中更为显著。一定程度的供应链去中心化更有利于企业在充满风险和变化的市场环境下开展创新研发。 With the changes in the geopolitical environment and the prevalence of global trade protectionism,the costs and uncertainties associated with corporate R&D activities have continuously increased.This has heightened the focus on upstream supply shortages and even supply interruptions.During the R&D process,if a company experiences delays or interruptions in its innovation activities due to resource supply shortages,it can result in significant and irreparable losses including the loss of human capital and the disruption of established R&D pathways.Previous studies have suggested that a decentralized governance approach,implemented through a multi-supplier strategy,can help companies mitigate the severe resource shortages caused by regional trade protectionism and upstream technology blockades,thereby incentivizing innovation.Currently,the decentralized governance model is widely applied in various fields,industry practices have already outpaced academic research in this area.Based on this,this paper attempts to explore the direct impact of supply chain decentralization on corporate innovation.Meanwhile,previous studies have identified two motivations in corporate innovation process under economic policy uncertainty which are"loss aversion"and"opportunity expectation."Driven by"loss aversion,"companies tend to reduce R&D expenditures and inhibit innovation output when facing external financial market frictions and internal agency problems caused by economic policy uncertainty.Conversely,driven by"opportunity expectation,"companies may increase innovation or investment inputs and expand production to seize market opportunities and seek long-term benefits under economic policy uncertainty.Against this backdrop,it remains to be tested whether the level of supply chain decentralization,as a new production relationship enabled by technology,can enhance a company's ability to cope with supply chain disruptions and mitigate the negative impact of economic policy uncertainty on resource allocation.Based on this,this paper further explores the indirect impact of supply chain decentralization on the relationship between economic policy uncertainty and corporate innovation.Using data from A-share listed companies in China from 2011 to 2021,this study examines the impact of supply chain decentralization and economic policy uncertainty on corporate innovation output.The findings reveal that supply chain decentralization significantly promotes corporate innovation output,with supplier decentralization having a greater impact compared to customer decentralization.Additionally,examining the impact of policy uncertainty on corporate innovation,it was found that economic policy uncertainty stimulates corporate innovation.Furthermore,placing the relationship between economic policy uncertainty and corporate innovation in the context of supply chain decentralization,the study finds that supply chain decentralization strengthens the positive effect of economic policy uncertainty on corporate innovation.This confirms the significant external governance effects of decentralized production relationships in supply chain applications.Moreover,the study finds that the positive impact of supply chain decentralization on corporate innovation is more pronounced in private enterprises and industries with higher competition.These results suggest that supply chain decentralization is more conducive to corporate innovation in a market environment full of risks and changes.This provides important implications for corporates s to actively leverage the innovation-promoting effects of supply chain decentralization,further advance the level of supply chain decentralization,and help companies flexibly respond to a dynamic external environment to the greatest extent.Based on the conclusions of this study,the following managerial implications are derived:First,from the perspective of policymakers,relevant departments should actively assist upstream suppliers,especially small and micro enterprises,in expanding partnerships and establishing business channels.This can be achieved through industry associations or policy support to encourage and support related industries in enhancing the degree of supply chain decentralization.Especially for technology innovation enterprises at the end of the supply chain,diversified cooperation incentive mechanisms and supporting tax incentives and exemptions should be provided to encourage technological innovation and product development.Second,from the perspective of corporate managers,given the significant synergistic effect of economic policy uncertainty and supply chain decentralization in promoting corporate innovation,companies should ensure the efficiency and security of supply chain information sharing while actively promoting the application of technologies such as artificial intelligence,the Internet of Things,and blockchain under the current environment where the COVID-19 pandemic brings opportunities for the digital transformation of offline businesses.Additionally,strengthening intellectual property protection can help companies capture the benefits brought by economic policy uncertainty,engage in upstream activities such as R&D design and high-tech intermediate goods production,and escape"low-end locking"and"low-end competition."

作者万滢霖李鹤尊胡依梅 WAN Yinglin;LI Hezun;HU Yimei(School of Economics and Management,Beijing University of Posts and Telecommunications,Beijing 100876,China;School of Business,Aalborg University,Denmark 9220,Denmark)

机构地区北京邮电大学经济管理学院丹麦奥尔堡大学商学院

出处《科学学与科学技术管理》 CSSCI CSCD 北大核心 2024年第8期144-161,共18页 Science of Science and Management of S.& T.

基金国家社会科学基金重大项目(20&ZD075) 教育部人文社会科学青年项目(23YJC630168) 财政部全国会计重点科研课题(2023KJA1-01)。

关键词供应链去中心化水平经济政策不确定性企业创新 supply chain decentralization economic policy uncertainty corporate innovation

分类号 F273.1 [经济管理—企业管理] F274 [经济管理—企业管理]

作者简介万滢霖(1989-),女,汉族,江西南昌人,北京邮电大学经济管理学院讲师、博士,研究方向:数字经济背景下的公司治理问题、区块链与加密数字货币;通信作者:李鹤尊(1992-),男,汉族,北京人,北京邮电大学经济管理学院讲师、博士,研究方向:管理会计、财务管理、公司治理,lihezun@126.com;胡依梅(1985-),女,汉族,湖南长沙人,丹麦奥尔堡大学副教授、博士,研究方向:创新生态系统、新兴市场国际管理、战略管理。