The Impact of Commerce Control List on Chinese Firms'Innovation:Evidence from Supply Chain Mechanism
Commerce Control List not only affects the innovation activities of directly sanctioned firms,but also generates spillover effects on the innovation of upstream and downstream firms through the supply chain mechanism.The article uses the 2013～2021 Commerce Control List and Chinese A-share listed firms'innovation data to examine the spillover effects on upstream and down-stream firms'innovation after the target firms are affected by the Commerce Control List.The study finds that the Commerce Con-trol List significantly inhibits upstream firms'innovation,but has no significant effect on downstream firms'innovation.In terms of the impact mechanism,the Commerce Control List affects upstream and downstream firms'innovation through the product scale channel and the commercial credit channel.Heterogeneity analysis finds that the impact of the Commerce Control List on up-stream and downstream firms'innovation varies according to the nature of innovation,the nature of the firm,the characteristics of the industry in which the firm is located,and the proximity of the firms to each other.This paper provides a new perspective for understanding the Commerce Control List and supply chain management.Enterprises should do a good job of risk monitoring in the supply chain and improve supply chain management.
NETL
NSTL
万方数据
