How Does Supply Chain Information Disclosure Affect Chinese Enterprises'Participation in Global Value Chains?
With the restructuring of the global supply chain,supply chain information disclosure has become a key concern for governments,enter-prises and academia worldwide.This study uses matching data from China's listed company supply chain database and China's customs data-base to examine the economic effects of corporate disclosure of supply chain information,focusing on participation in the division of labor with-in the global value chain.The study found that disclosing supply chain information can significantly increase Chinese companies'participation in global value chains,and is supported by a series of robustness tests.Mechanism analysis shows that easing corporate financing constraints and improving information asymmetry between companies and external investors are the primary channels through which supply chain informa-tion disclosure exerts its influence.Further analysis found that since supply chain information is more sensitive and related to bargaining pow-er,disclosing this information may also lead to a decline in supply chain trust and an increased risk of being locked into the lower end of the value chain.Therefore,supply chain information disclosure mainly increases the participation of enterprises in downstream links of the value chain,while their progress towards high-end links is significantly impeded.Heterogeneity analysis shows that companies can strategically dis-close supply chain information based on factors such as the nature of property rights,life cycle,industry characteristics,thereby achieving a balance between supply chain transparency and security.This article provides empirical evidence for Chinese companies to better respond to global supply chain transparency requirements and refine their supply chain information disclosure strategies.
NETL
NSTL
万方数据
