供应链持股对企业可持续发展绩效的影响研究OA

Suppliers and customers are important stakeholders of enterprises,influencing their operations and development.The relationships between upstream and downstream entities in the supply chain have a significant impact on firms.Supply chain shareholding represents a unique type of supply chain relationship,and whether it affects corporate sustainable development per-formance is a question worth exploring.Based on data from Chinese A-share listed companies from 2010 to 2024,this study inves-tigates the impact of supply chain shareholding on corporate sustainable development performance and its underlying mechanisms.The results indicate that supply chain shareholding inhibits the improvement of sustainable development performance.Path analysis reveals that supply chain shareholding negatively affects sustainable development performance by significantly suppressing green in-novation activities and exacerbating corporate financing constraints.Further analysis shows that the inhibitory effect of supply chain shareholding on sustainable development performance is more pronounced in state-owned enterprises,firms with high bargaining power,industries with low prosperity,and large-scale enterprises.Through empirical analysis,this study reveals the negative im-pact of supply chain shareholding on corporate sustainable development performance and its transmission channels,providing new empirical evidence for corporate sustainable development in China.