【摘要】 提升重点领域产业链供应链风险预警与应对能力,是加强我国经济安全、实现高质量发展的必要保障。本文基于风险外溢视角,探究美国对华实体清单措施引致的跨境供应链风险如何外溢至国内同群企业,进而影响其边界调整行为。研究结果表明:实体清单企业的同群企业在感知到潜在供应链风险后选择扩张其生产边界,表现为纵向一体化水平显著提升;进一步研究显示,同群企业主要向上游扩展边界,将供应环节内部化以规避断供风险,加强上游股权关联和深化研发合作关系是其扩展边界的主要方式;异质性分析显示,断供风险外溢对企业纵向一体化的促进效应在非国有企业、供应关系依赖度较高企业、战略性新兴产业样本组中更加显著。本文拓展了关于跨境供应链风险经济后果的研究,为企业主动应对供应链风险提供政策启示。更多还原

【Abstract】 Enhancing the ability to early warn and respond to risks in industrial andsupply chains in key fields is an essential guarantee for strengthening China’s economic security and realizing high-quality development, From the perspective of risk spillover, thispaper explores how cross-border supply chain risks caused by the USA Entity List measures against China spill over to domestie peer enterprises , and further affeet their boundaryadjustment behaviors. The research results show that after perceiving potential supplychain risks , the peer enterprises of those listed on the Entity List tend to expand their produetion boundaries, which is reflected in a significant increase in the level of vertical inte-gration. Further research reveals that peer enterprises mainly expand their boundaries upstream , internalizing the supply links to avoid the risk of supply disruption. Strengtheningupstream equity connections and deepening R& cooperation relationships are the mainways for them to expand their boundaries. Heterogeneity analysis indicates that the promoting effeet of supply disruption risk spillover on enterprises’ vertical integration is more significant in the sample groups of non-state-owned enterprises, enterprises with high dependence on supply relationships, and strategic emerging industries. This paper expandsthe research on the economic consequences of cross-border supply chain risks and provides policy implications for enterprises to proactively respond to supply chain risks.更多还原