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本文以2007—2015年上市制造企业为样本,首次基于存货管理效率的中介效应视角,研究了客户关系型交易对制造业企业业绩的影响效应与机制。结果表明,客户关系型交易可提高企业业绩,存货管理效率在客户关系型交易提高企业业绩中具有部分中介效应。在进一步区分企业市场竞争力强弱后发现,在市场竞争力弱的企业中,客户关系型交易通过存货管理效率提高企业业绩的效应更加显著,同时公司治理水平的改善有助于这种效应的实现。本文认为,对于市场竞争力弱的企业,可通过建立基于社会网络的客户关系型交易并不断地改善公司治理水平,进而提高企业业绩。本文的研究结论对提高制造业企业的核心竞争力具有一定的指导意义。
Based on the listed manufacturing enterprises from 2007 to 2015 as a sample, for the first time, based on the mediating effect of inventory management efficiency, this paper studies the effect and mechanism of customer relationship-based transactions on the performance of manufacturing enterprises. The results show that customer relationship transaction can improve business performance and inventory management efficiency has some intermediary effect in customer relationship transaction to improve business performance. After further differentiating the market competitiveness of enterprises, it is found that the effect of customer relationship-based transactions on the improvement of business performance through inventory management efficiency is more significant in firms with weaker market competitiveness and the improvement of corporate governance contributes to this effect achieve. This paper argues that for companies with weak market competitiveness, corporate governance can be continuously improved through the establishment of customer relationship-based transactions based on social networks, thereby improving business performance. The conclusion of this paper is of guiding significance to improve the core competitiveness of manufacturing enterprises.