CAJ | 학술논문

从理论上论证了商业信用为什么是产业价值链竞争与合作的一个要素,并通过对中国1260家上市公司进行实证研究,结果说明企业的商业信用特征能够体现其产业价值链上的竞争地位;企业确实把商业信用作为获取竞争优势的一个手段,但商业信用是否能为企业获取竞争优势取决于企业经营管理水平,最终会体现为“净商业周期”的长短。
종이론상론증료상업신용위십요시산업개치련경쟁여합작적일개요소,병통과대중국1260가상시공사진행실증연구,결과설명기업적상업신용특정능구체현기산업개치련상적경쟁지위;기업학실파상업신용작위획취경쟁우세적일개수단,단상업신용시부능위기업획취경쟁우세취결우기업경영관리수평,최종회체현위“정상업주기”적장단。
This paper theoretically studies why trade credit is the element of the competition and cooperation of the industry value chain. Through an empirical research based on 1,260 listed corporations in China, the result indicates that the corporations＇ trade credit characteristics can demonstrate its competitive positions in the industry value chain; trade credit is really a means to obtain the competitive advantages for corporations. However, whether trade credit is helpful to obtain competitive advantages for corporations fundamentally depends on the management capacity of a company and finally reflects on the length of the ＂net business cycle＂.