| 自然灾害与企业绩效——基于上市公司视角的经验证据 |
 点此下载全文 |
| 引用本文：谭娟1,尹思1,陈卓2.自然灾害与企业绩效——基于上市公司视角的经验证据[J].财经理论与实践,2025,(5):153-159 |
| 摘要点击次数: 89 |
| 全文下载次数: 70 |
|
|
| 中文摘要:依据2014—2020年我国上市企业面板数据，考量自然灾害对企业绩效的作用。结果显示：自然灾害通过降低企业经营效率和削弱企业市场份额两个渠道降低企业绩效；异质性检验结果显示，大规模、技术密集型、组织惯性高及市场竞争激烈型企业对灾害冲击更敏感，东部及经济发达地区企业受灾害影响更深，地质与洪水灾害对企业绩效负面影响更突出。进一步研究发现：供应链韧性能正向调节自然灾害对企业绩效的负向影响，自然灾害与企业绩效对高效率企业的全要素生产率产生正向影响。鉴于此，应加强自然灾害风险防范，提升供应链韧性，促进市场资源的高效配置和持续健康发展。 |
| 中文关键词:自然灾害 企业绩效 供应链韧性 全要素生产率 |
| |
| Natural Disasters and Firm Performance -Empirical Evidence from the Perspective of Listed Companies |
|
|
| Abstract:Based on panel data from Chinese listed companies from 2014 to 2020, this study examines the impact of natural disasters on corporate performance. The results show that natural disasters reduce corporate performance through two channels: by lowering operational efficiency and weakening market share. Heterogeneity tests reveal that large-scale, technology-intensive, organizations with high organizational inertia, and those operating in highly competitive markets are more sensitive to disaster shocks. Enterprises in eastern and economically developed regions are more severely affected by disasters, and geological and flood disasters have a more pronounced negative impact on corporate performance. Further research finds that supply chain resilience can positively moderate the negative impact of natural disasters on corporate performance; The negative impact of natural disasters on corporate performance triggers a market “cleansing effect,” where inefficient firms with weak innovation capabilities and low educational structures exit the market more rapidly due to their inability to adapt to external shocks, thereby optimizing the efficiency of market resource allocation and positively influencing total factor productivity. Given this, it is recommended to strengthen natural disaster risk prevention, enhance supply chain resilience, and promote the efficient allocation and sustainable healthy development of market resources. |
| keywords:natural disasters firm performance supply chain resilience total factor productivity |
| 查看全文 查看/发表评论 下载pdf阅读器 |
|
|
|
位访问者,今日访问
