供应链透明度与企业高质量发展

——投资者信任的双刃剑效应

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关键词：供应链透明度；全要素生产率；企业高质量发展；信息披露；U型关系中图分类号：F832.51；F273.1;F274 文献标识码：Adoi：10.3969/j.issn.1672-2272.202507027

Supply Chain Transparency and High-Quality Enterprise Development ： TheDouble-Edged Sword Effect of Investor Trust

Zhang Shengyi，Liu Siming （School of Business Administration， Xinjiang University of Finance and Economics， Urumqi 83ool2，China）

Abstract：Under the background of high-quality economic development，the impact of supply chain management，especially supply chain transparency，on enterprise development has attracted increasing attention from all walks of life.Select data from Chinese A-share listed manufacturing companies from 2008 to 2O22，explore the impact of supply chain transparency on high-quality development of enterprises from a theoretical perspective，and conduct empirical tests.Research has shown that： （1） there is a significant U-shaped nonlinear relationship between supply chain transparency and total factor productivity，and the two are negatively correlated when transparency is at a low level；And when the transparency exceeds a specific threshold，the two become positively correlated.（2）Heterogeneity tests indicate that this U-shaped relationship is commonly present in enterprises with different property rights and debt levels，but for state-owned enterprises and enterprises with high financing constraints，the threshold inflection point for achieving positive transparency effects appears earlier. The research conclusion provides a new perspective for understanding the relationship between supply chain transparency and high-quality development of enterprises，and has reference value for improving the information disclosure system of enterprises and promoting high-quality development of enterprises.

Key Words：Supply Chain Transparency； Total Factor Productivity； High Quality Development of En- terprises;Information Disclosure;U-Shaped Relationship

0 引言

党的二十大报告明确提出，“高质量发展是全面建设社会主义现代化国家的首要任务”。（剩余11315字）