高管过度自信与供应商关系:集中化还是多元化?
作者:
作者单位:

1.石河子大学经济与管理学院;2.石河子大学

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F272.3

基金项目:

国家自然科学基金青年项目“投资者异质信念与企业创新行为:基于管理层理性与非理性双重情境的研究”(72103144);教育部人文社科“多源媒体情绪传播对企业策略性专利行为的影响及机制研究”(21YJA790077);石河子大学青年创新拔尖人才项目“企业创新策略选择对商业信用供给的影响及机制研究”(CXBJ202210)。


Executive Overconfidence and Supplier Relationships: Centralization or Diversification?
Author:
Affiliation:

1.School of Economics and Management, Shihezi University;2.Shihezi universiry

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    摘要:

    “十四五”规划以及党的二十大报告提出要重视产业链与供应链现代化水平,着力提升供应链韧性及安全水平。本文利用2003—2022年沪深A股上市公司数据,从“为公”和“为私”两个视角探究高管过度自信对企业供应商战略决策的影响。研究发现:①拥有过度自信高管的企业倾向于表现出集中的供应商关系,高管过度自信对供应商关系的影响“为私”视角占据主导。②集中的供应商关系是过度自信高管盈余管理行为的必然结果;③资源约束能够负向调节高管过度自信对供应商集中度的影响;④融资约束、经济政策不确定性、行业竞争程度能够正向调节高管过度自信对供应商集中度的影响。以上研究结论有助于探索影响企业供应商关系的前因,厘清企业供应商集中度较高的内在作用机理。

    Abstract:

    The 14th Five-Year Plan and the report of the 20th National Congress of the Communist Party of China (CPC) put forward the need to pay attention to the modernization of industrial and supply chains, and strive to improve the resilience and security of supply chains. Based on the data of A-share listed companies in Shanghai and Shenzhen from 2003 to 2022, the impact of executive overconfidence on corporate supplier strategic decision-making are explored from the two perspectives of "for the benefit of company" and " for the benefit of oneself". It is found that enterprises with overconfident executives tend to have more centralized supplier relationships, and the impact of executive overconfidence on supplier relationships is dominated by a "for the benefit of oneself" perspective. And centralized supplier relationships are the inevitable consequence of overconfident executives'' earnings management behavior. In addition,it is found that resource constraints can negatively regulate the influence of executive overconfidence on supplier concentration. And financing constraints, economic policy uncertainty, and industry competition can positively regulate the impact of executive overconfidence on supplier concentration. The above research expands the research of influencing factors of supplier relationships and clarify the internal mechanism of high concentration of supplier.

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吴春贤,王彪燕.高管过度自信与供应商关系:集中化还是多元化?[J].技术经济,2024,43(6):68-86.

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  • 收稿日期:2023-11-16
  • 最后修改日期:2024-06-14
  • 录用日期:2024-02-27
  • 在线发布日期: 2024-06-27
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