摘要：The competitive and cooperative relationships between suppliers and enterprises have important implications for enterprise strategy and operational decisions. Using data from listed manufacturing companies in China from 2007 to 2020, this paper empirically examines the impact of supplier concentration on corporate risk taking and its underlying mechanism. The results support the cooperative view of industrial organizations in a supply chain, which states that the higher the supplier concentration, the greater the level of corporate risk taking. The results are robust to various measures of the supplier concentration (Supply), sample selectivity bias, and endogeneity tests. This paper also shows that digital transformation has a moderating effect on supplier concentration and corporate risk taking. The supplier concentration can significantly increase risk taking in companies that have implemented digital transformation, while the effect is not significant in companies that have not implemented digital transformation. The conclusions drawn from this study provide practical guidance on industrial organization relationship coordination and digital transformation, suggesting that the implementation of digital transformation can help a firm to establish and consolidate a good relationship with suppliers and improve operational efficiency.
关键词：supplier concentration; corporate risk taking; digital transformation; moderating effect
