Taking the data of A-share listed companies from 2015 to 2023 as a sample,a model is constructed to analyze the impact of supply chain concentration on enterprise value,and the study finds that increasing supply chain concentration can lead to an increase in enterprise value,and the conclusion remains valid following a number of robustness tests;According to heterogeneity analysis,increasing the supply chain concentration of non-state-owned enterprises,enterprises with high ESG levels,new enterprises,and small and medium-sized enterprises can considerably contribute to enterprise value growth;The mediation mechanism study reveals that supply chain concentration has a considerable impact on enterprise value via the mediating effect of enterprises'total asset turnover.Based on the above findings,the following recommendations are proposed:An enterprise should strengthen communication with upstream and downstream enterprises,incorporate ESG principles into their development strategy,and pay attention to the mediating effect of total assets turnover;The government should expand infrastructure construction,direct the layout of the industry chain of enterprises,and formulate appropriate tax incentives.
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