【摘要】 本文以2009—2020年中国上市公司数据为样本，从供应链嵌入视角探讨客户对供应商企业的全要素生产率的溢出效应。研究发现，客户会通过供应链路径对供应商企业产生正向的生产率溢出效应，该效应主要通过优化企业的资本配置效率而非促进技术创新来发挥作用。进一步分析发现客户生产率溢出效应在低客户集中度、高市场化水平及非国有企业中表现更加显著。本文的研究有助于丰富和促进供应链理论和产业组织理论内涵，为经济高质量可持续发展提供微观证据。更多还原

【Abstract】 Using the data of Chinese listed companies from 2009 to 2020 as the research sample, this paper explores the spillover effect of customers’ total factor productivity on supplier companies from the perspective of embedded supply chain.It is found that customers have productivity spillover effects on firms through the supply chain path.This effect mainly works by optimizing the resource allocation efficiency of enterprises rather than promoting technological innovation.Further analysis finds that the spillover effect of customer productivity is more pronounced in enterprises with low customer concentration and high level of regional marketization and non-state-owned enterprises.The research helps enrich and promote the connotation of supply chain theory and industrial organization theory, and provides micro-evidence for high-quality and sustainable economic development.更多还原