| 摘要: |
| 企业经营实践的近期走势凸显了供应商/客户关系的普遍性与重要性。基于资本结构理论,供应商/客户关系被引入公司理财研究领域。通过供应商/客户关系的操作性计量,国外的实证研究揭示了供应商/客户关系对公司融资、股权投资、股利及现金政策等财务决策的影响,以及财务决策行为的逆向影响。未来研究需要在科学合理计量供应商/客户关系的基础上,进一步研究正式制度因素和先天关系因素对供应商/客户关系的影响及其对公司理财行为的影响。 |
| 关键词: 供应商/客户关系 公司理财 战略互动 |
| DOI：10.13216/j.cnki.upcjess.2017.02.0003 |
| 分类号:F279.15 |
| 基金项目:国家自然科学基金面上项目(71172080);中央高校基本科研业务费专项基金资助项目(15CX04026B) |
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| Foreign Studies about Customer-supplier Relationship and Corporate Financing:Review and Prospect |
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WANG Yong, ZHAO Dihui
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(School of Economics and Management,China University of Petroleum, Qingdao, Shandong 266580, China)
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| Abstract: |
| Recent trends in corporate business practices have contributed to an increase in both the prevalence and the importance of supplier/customer relationship. Based on the theory of capital structure, supplier/customer relationshipisfirst introduced into the research fieldof corporate finance. By measuring supplier/customer relationship,foreign empirical research has revealed the impact of supplier/customer relationship on the decision-making of corporate financing, equity investment, dividend and cash policy, and the reverse impactof financial decision-making behavior on the supplier/customer relationship. Future research needs take Chinese institutional environmentinto consideration, scientificallymeasure the variables of supplier/customer relationship, and further study the mediating effect of formal institutional factors and congenital relationship factors on the above-mentioned relationship. |
| Key words: customer/supplier relationship corporate financing management strategicinteraction |
