企业与客户和供应商的供应链关系构成了企业经营发展的重要关系网络,也是企业战略竞争优势的重要组成部分。本文研究了供应商和客户的集中程度对于企业研发投入的影响,使用中国A股主板上市公司2007—2014年的数据发现,供应商和客户的集中程度对于企业的研发投入强度具有显著为负的影响,预示着企业对于"敲竹杠"等机会主义行为的担忧抑制了其自身的资产专用性投资。本文还发现,相比于国有控股上市公司,供应商和客户对企业研发投入的负面影响在非国有控股的上市公司中体现地更为明显。本文的研究发现表明企业的供应链关系网络对其创新活动具有重要的影响。
The relationships between suppliers and customers constitute an important business network of enterprise,which are also vital for winning strategic competitive advantage. Using the data from Chinese A share main board companies of 2007-2014,this paper examines the relation between concentration ratios of suppliers/customers and RD expenditures. We find that there is a significantly negative effect of suppliers/customers' concentration ratios on RD expenditures,showing that the worry about "fleecing"and other opportunist behavior reducing firms' asset-specific investments such as RD expenditures. The above mentioned negative effect is more significant in non-SOEs. Our paper underlines the effect of supply-chain relationship networks on firms' innovation activities.