供应链集中度与企业创新——基于中国制造业上市公司的实证研究

信息技术革命和国际垂直分工深刻地改变了全球制造业的生产格局和竞争基础，传统的企业间竞争正逐渐演化为供应链间的竞争。对2011-2018年A股制造业上市公司的实证分析发现：供应商集中度负向影响企业创新，但这一效应在市场地位较高的企业中得到弱化；客户集中度与企业创新则呈显著正相关，且在市场地位较高的企业中得到强化。研究还发现，融资约束缓解是供应链集中度影响企业创新活动的作用渠道。研究对于供应链与创新活动之间的关系做出了文献贡献，并对创新驱动发展战略下企业根据自身市场地位权变性地从事创新活动提供了实践指导。

Supply Chain Concentration and Firm Innovation:Empirical Study Based on Listed Manufacturing Firms in China

The information technology revolution and the international vertical division of labor have changed the manufacturing pattern and basis of competition in the global manufacturing industry. The traditional competition among firms is gradually evolving into the competition among supply chains. Based on the empirical analysis of A-share manufacturing listed companies in China from 2011 to 2018, we find that firm innovation is related with supplier concentration negatively, but the effect will be weakened in firms with higher market position. However, the firm innovation is related with customer concentration positively, and it will be strengthened among firms with higher market position. The release of financial constraint is the mechanism of the relationship between supply chain and innovation activities. The research provides literature contribution and practical guidance for firms to engage in innovation activities according to their own market position under the strategy of innovation-driven development.