| 以耐心资本引领制造强国的现代化产业体系建设:基于供应链韧性提升视角 |
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| 引用本文:孙英杰,吴丽敏,李美颐.以耐心资本引领制造强国的现代化产业体系建设:基于供应链韧性提升视角[J].财经理论与实践,2026,(2):19-26 |
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| 中文摘要:基于2008—2023年中国制造业A股上市公司数据,探讨耐心资本对制造业企业供应链韧性的影响。结果发现:耐心资本对制造业企业供应链韧性具有显著提升作用,且该作用在企业规模、区位特征、数字化转型方面表现出明显的异质性特征,并通过增加创新投入、提升创新产出和提高创新效率实现有效机制赋能。此外,媒体关注度和分析师关注度还能够显著发挥耐心资本对制造业企业供应链韧性提升的正向调节作用。鉴于此,应培育和壮大耐心资本,发挥其创新支持效应,并提高外部关注监督效能,助力制造业企业供应链韧性提升,以此加速推进现代化产业体系建设。 |
| 中文关键词:耐心资本 供应链韧性 现代化产业体系建设 企业创新水平 外部关注 |
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| Patient Capital Leads the Construction of Modern Industrial System for a Manufacturing Power: A Perspective of Enhancing Supply Chain Resilience |
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| Abstract:Based on the data of Chinese A-share listed manufacturing enterprises from 2008 to 2023, this research explores the impact of patient capital on the supply chain resilience of manufacturing enterprises. The results show that patient capital exerts a significant promotional effect on the supply chain resilience of manufacturing enterprises, and this effect presents distinct heterogeneous characteristics in terms of enterprise scale, location attributes, and digital transformation, achieving effective mechanism empowerment by increasing innovation input, enhancing innovation output, and improving innovation efficiency. Furthermore, media attention and analyst attention can significantly exert a positive moderating effect on the enhancement of supply chain resilience of manufacturing enterprises by patient capital. In view of these findings, it is necessary to foster and expand patient capital, give full play to its innovation-supporting effect, and strengthen the supervisory efficiency of external attention, so as to enhance the supply chain resilience of manufacturing enterprises and thus accelerate the construction of modern industrial system. |
| keywords:patient capital supply chain resilience construction of modern industrial system enterprise’ innovation capacity external attention |
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