Supply chain risk: Changes in supplier composition and vertical integration

• 成果类型: Article
• 署名作者: Ersahin, Nuri; Giannetti, Mariassunta; Huang, Ruidi
• 署名单位: Southern Methodist University; Stockholm School of Economics
• 刊物名称: JOURNAL OF INTERNATIONAL ECONOMICS
• ISSN/ISSBN: 0022-1996
• DOI: 10.1016/j.jinteco.2023.103854
• 发表日期: 2024
• 关键词: Supply chains; Nearshoring; FRAGMENTATION; Textual analysis; vertical integration; M&As

摘要

Using textual analysis of earnings conference calls, we quantify firms' supply chain risk and explore how firms react when supply chain risk increases. We show that firms with supply chains that span across continents, multinationals, and firms with fewer suppliers of an input face higher supply chain risk. In addition, firms exhibit high supply chain risk when their suppliers also do so. Firms manage supply chain risk by establishing relationships with closer and domestic suppliers and with suppliers that are industry leaders and by vertically integrating, but they continue to work with suppliers in other continents.