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论文编号：	15294
作者编号：	2120233676
上传时间：	2025/6/4 17:10:43
中文题目：	客户资产减值对企业创新的影响研究
英文题目：	Research on the Impact of Customer Asset Impairment on Corporate Innovation
指导老师：	李姝
中文关键字：	供应链；客户资产减值；企业创新；风险承担；高管创新意识
英文关键字：	Supply Chain；Customer Asset Impairment；Enterprise Innovation；Risk-taking；TMT''''s Innovation Cognition
中文摘要：	在全球经济深度互联与地缘政治不确定性加剧的背景下，创新成为维持供应链稳定与安全的关键驱动力，是保障国家经济安全、产业竞争力和企业可持续发展的核心战略要素?。通过加强创新投入与产出，国家可实现战略产业自主可控，企业能够将外部风险压力转化为破局动能，以技术迭代、模式重构和产品升级构筑竞争壁垒，提升企业核心竞争力。其中，客户作为企业供应链的关键一环，其公开披露信息对企业决策有着举足轻重的影响。在公开披露信息中，客户的资产减值信息作为会计稳健性原则的代表信息，在保证可靠性的同时又具有前瞻性特征，这类经审计师审计的信息能够为企业提供较为可靠的供应链风险预警。 基于此，本文选取2009-2023年披露了前五大客户名称的A股上市公司作为研究样本，采用固定了年份与行业的双向固定效应模型探究客户资产减值对企业创新的影响。此外，本文以企业风险承担和高管创新意识作为中介变量，检验了客户资产减值与企业创新间的中介机制，并通过分组回归的方式，检验了客户资产减值项目、是否国有控股、客户集中度、是否高新技术企业与高管研发背景五种因素的调节作用。研究发现：第一，上期的客户资产减值会显著促进本期企业创新投入的增加；第二，由于压力倒逼机制的存在，上期客户资产减值通过增加企业的风险承担水平、提升高管的创新意识，进而促使企业增加创新投入；第三，上期客户资产减值对企业创新投入的正向影响主要来自客户的存货减值，且对于非国有控股、客户集中度较高、属于高新技术企业以及高管团队有研发背景的企业，上期客户资产减值对企业创新投入的正向影响更加显著。基于以上研究结论，本文提出了相关政策建议，期望能对国家和企业供应链安全稳定及创新发展有所裨益。
英文摘要：	Under the background of the deep interconnection of the global economy and the intensification of geopolitical uncertainty, innovation has become the key driving force to maintain the stability and security of the supply chain, and is the core strategic element to ensure the national economic security, industrial competitiveness and sustainable development of enterprises. By strengthening the input and output of innovation, the country can realize the independent control of strategic industries, and enterprises can transform the external risk pressure into the momentum of changing the situation, build competitive barriers with technology iteration, model reconstruction and product upgrading, and enhance the core competitiveness of enterprises. As a key part of the enterprise supply chain, customers' public disclosure of information has a decisive impact on enterprise decision-making. Among the public disclosure of information, the asset impairment information of customers, as the representative information of the accounting conservatism principle, not only ensures the reliability, but also has the forward-looking characteristics. Such information audited by auditors can provide a more reliable supply chain risk warning for enterprises. Based on this, this article selects A-share listed companies that disclosed the top five customer names from 2009 to 2023 as research samples, and uses a two-way fixed effects model with fixed years and industries to explore the impact of customer asset impairment on enterprise innovation. In addition, this article uses enterprise's risk-taking and TMT's innovation cognition as intermediary variables to examine the intermediary mechanism between customer asset impairment and enterprise innovation, and uses grouped regression to test the moderating effects of five factors: items of customer asset impairment, state-owned holding, customer concentration, high-tech enterprise and R&D background executives. Research finds that: firstly, customer asset impairment in the previous period significantly promotes the increase of enterprise innovation investment in the current period. Secondly, due to the existence of the pressure mechanism, customer asset impairment in the previous period increases the enterprise's risk-taking level and enhances TMT's innovation cognition, thereby prompting the enterprise to increase innovation investment. Thirdly, the positive impact of customer asset impairment in the previous period on enterprise innovation investment mainly comes from customer inventory impairment. For enterprises that are non-state-owned, have higher customer concentration, high technique, and R&D background executives, the positive impact of customer asset impairment in the previous period on enterprise innovation investment is more significant. Based on the above research conclusions, this article proposes relevant policy recommendations, hoping to benefit the security and stability of supply chains as well as innovation development of the country and enterprises.
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