The Impact of the Construction of China's Pilot Free Trade Zone on the Supply Chain Configuration of Enterprises:Centralization or Diversification
Under the current highly uncertain economic environment,it is of great theoretical and practical significance to explore the impact of the Pilot Free Trade Zone(PFTZ)as a"testing ground"for institutional innovation on the optimization of supply chain configuration and the enhancement of supply chain resilience and security of China's industrial chain.Based on the exogenous impact events of the construction of the PFTZ,this paper takes China's A-share listed companies from 2009 to 2022 as the research sample,and systematically evaluates the impact of the construction of the PFTZ on the supply chain configuration of the enterprises in the region and its mechanism of action.It is found that the construction of the PFTZ significantly reduces the concentration of upstream suppliers,downstream customers and the overall supply chain,and promotes the diversification of supply chain configuration.The mechanism test finds that the construction of PFTZ enhances the competitive effect of micro-entities within their jurisdiction,which is manifested in increasing enterprise risks,reducing switching costs,and lowering entry barriers,thereby promotes the establishment of diversified supplier and customer relationships and improves supply chain resilience.Further analyses show that the effects of PFTZ construction on supply chain diversification are more prominent in coastal areas,high-tech industries,and non-state-owned enterprises.This paper extends the economic consequences of the construction of PFTZ to the supply chain level,which provides important policy implications for the construction of a globally oriented network of high-standard PFTZs,and for the enhancement of supply chain resilience and security of China's industrial chain.
pilot free trade zonesupply chain configurationmarket competitionenterprise riskswitching cost
万方数据
维普
