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论文编号：	16179
作者编号：	2120233673
上传时间：	2026/6/22 23:55:25
中文题目：	供应链议价能力对企业财务韧性的影响研究
英文题目：	A Study of the Impact of Supply Chain Bargaining Power on Firm’s Financial Resilience
指导老师：	李姝
中文关键字：	供应链议价能力；财务韧性；融资约束
英文关键字：	Supply chain bargaining power; Financial resilience; Financing constraints
中文摘要：	在全球化与区域化交织、各类风险频发的当今时代，企业所处的经营环境日益复杂多变。近年来，国际地缘政治冲突的加剧、突发性公共卫生事件的冲击以及全球产业链供应链的深度重构，供应链中断的风险显著放大，市场不确定性急剧升高。这种动荡的外部环境对企业如何有效获取并维持竞争优势、如何抵御外部冲击并实现长期可持续发展提出了前所未有的严峻挑战。由于自身资源的有限性，企业往往会依靠自身的要素禀赋将资源配置能力拓展至上下游供应链中，从而实现对优势资源的统筹，企业与企业之间的竞争己经愈发转变为供应链与供应链之间的竞争。在此背景下，供应链管理的重要性日益凸显，企业在供应链中的议价能力直接影响到企业的韧性水平和长久发展。企业财务韧性的概念在近年来受到了学术界和实务界的广泛关注，尤其是在全球面临日益增多的突发事件和不确定性的背景下。韧性通常被理解为系统在面对干扰、冲击或压力时，能够吸收、适应、并从中恢复甚至超越自身的能力。企业面临的风险水平正在上升且相互关联，管理新兴风险、预测不同类型风险间的相互作用以及从中断中恢复的能力将成为企业实现可持续发展的核心所在，在此背景下，研究议价能力如何影响企业财务韧性水平具有重大的理论和现实意义。 本文在回顾已有文献的基础上，选取2007—2023年我国A股上市公司作为研究对象，探究了供应链议价能力与 企业财务韧性的关系，并进一步对二者之间的作用机制进行了更深入的研究。研究结果表明：（1）企业在供应链中的议价能力与财务韧性水平存在正相关关系；（2）企业在供应链中较强的议价能力可以通过缓解企业融资约束来增强企业的财务韧性；（3）对于具备较高的创新投入水平、较好的数字化转型程度、高供应链集中度和国有控股的企业，企业议价能力对财务韧性的正向影响更强。
英文摘要：	In today's era of globalization and the frequent occurrence of various types of risks, the business environment in which enterprises operate is becoming increasingly complex and volatile. In recent years, the intensification of international geopolitical conflicts, the impact of public health events and the deep restructuring of the global industrial supply chain have significantly magnified the risk of supply chain disruption and sharply increased market uncertainty. This turbulent external environment has posed unprecedentedly severe challenges to enterprises on how to effectively gain and maintain competitive advantages, how to withstand external shocks and realize long-term sustainable development. Due to the limited nature of their own resources, enterprises often rely on their own factor endowment to expand their resource allocation capacity to the upstream and downstream supply chain, so as to realize the integration of advantageous resources. The competition between enterprises has been increasingly transformed into the competition between supply chains. In this context, the importance of supply chain management is becoming more and more prominent, and the bargaining power of enterprises in the supply chain directly affects the level of enterprise resilience and long-term development. The concept of corporate financial resilience has received extensive attention in recent years in both academic and practical circles, especially in the context of the increasing number of contingencies and uncertainties facing the world. Resilience is often understood as the ability of a system to absorb, adapt, and recover from or even surpass itself in the face of disruptions, shocks or stresses. The level of risks faced by enterprises is rising and interrelated, and the ability to manage emerging risks, predict the interactions between different types of risks, and recover from disruptions will become the core of enterprises' ability to achieve sustainable development. In this context, it is of great theoretical and practical significance to study how bargaining power affects the level of financial resilience of enterprises. Based on reviewing of the existing literature, this paper selects China's A-share listed companies in 2007-2023 as the research object, explores the relationship between supply chain bargaining power and corporate financial resilience, and further conducts a more in-depth study on the role of the mechanism between them. The results of the study show that: (1) The bargaining power of enterprises in the supply chain is positively correlated with the level of financial resilience; (2) Stronger bargaining power of enterprises in the supply chain can enhance the financial resilience of enterprises by alleviating the financing constraints of enterprises; (3) For the enterprises with a higher level of innovation investment, a better degree of digital transformation, a high degree of supply chain concentration, and state-owned holdings, the positive effect of the bargaining power of enterprises on financial resilience is stronger.
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