Does Digital Transformation Peer Effect the Discourse Power of Enterprise Supply Chain?
Based on data from China's A-share listed enterprises from 2003 to 2021,this paper explores the impact and mechanism of the cohort effect of digital transformation on enterprises'influence within the supply chain.The findings indicate that the cohort effect of digital transformation among enterprises constitutes a positive force,significantly enhancing enterprises'influence within the supply chain system.The mechanism behind this effect shows that by promoting the flow and sharing of information,it reduces information asymmetry across various links in the supply chain.At the same time,it stimulates enterprise innovation,thus strengthening their bargaining power within the supply chain.However,financing constraints negatively impact the ability of the digital transfor-mation cohort effect to enhance enterprise influence within the supply chain,while also limiting its effect on reduc-ing information asymmetry.These constraints inhibit the positive effects of digital transformation on reducing infor-mation asymmetry and improving innovation capacity.Further analysis reveals that when the risk of decision-mak-ing errors is high and market competition is particularly intense,firms are more inclined to strengthen their supply chain influence through the digital transformation cohort effect.This study sheds light on the pattern and mechanism by which the cohort effect of digital transformation improves enterprises'influence within the supply chain,offering the following policy implications:First,for key enterprises,management should recognize that the digital transfor-mation of cohort firms represents both a threat and an opportunity.Enterprises should establish efficient cohort net-work relationships and foster effective social interactions that can potentially impact their supply chain influence.Second,the government should build platforms to promote interactive communication and information sharing among digitized enterprises,emphasize the demonstration role of leading digitized firms,and create pilot enterprises or re-gions through policy guidance.This would help create a favorable institutional backdrop and market environment for enterprise digitalization.
digital transformationcohort effectsupply chain influenceinformation asymmetryinnovation capacity
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