客户股价崩盘风险对供应商具有传染效应吗?Does Customer Stock Price Crash Risk Have the Contagion Effects on Their Suppliers?
彭旋;王雄元;
摘要(Abstract):
文章利用手工整理的2007-2013年800对客户与供应商均为上市公司的供应链公司数据,探讨了客户股价崩盘风险是否会通过密切的供应链关系传染给供应商。研究发现:(1)客户股价崩盘风险对供应商具有传染效应,且这一传染效应主要出现在供应商自身抗风险能力不足时。(2)客户与供应商的关系越重要、越专有、越稳定、越良性,客户股价崩盘风险对供应商的传染效应越强。这表明由于密切的经济联系,当客户股价崩盘风险较高时,供应商可能会受牵连而发生崩盘。文章的研究为传染文献提供了新的适用情形,也展示了客户影响供应商的独特路径,从而丰富了传染效应和客户供应商关系的相关文献。
关键词(KeyWords): 股价崩盘风险;客户供应商关系;传染效应
基金项目(Foundation): 国家自然科学基金面上项目(71472188,71672191);; 中央高校基本科研业务费专项资金资助项目(0900201572)
作者(Author): 彭旋;王雄元;
Email:
DOI: 10.16538/j.cnki.jfe.2018.02.011
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