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Journal of Shenyang Aerospace University >

2026 , Vol. 43 >Issue 1: 83 - 89

DOI: https://doi.org/10.3969/j.issn.2095-1248.2026.01.011

Management Science and Engineering

The impact of supply chain concentration on corporate risk-taking

  • Hao JING ,
  • Qinghe TANG ,
  • Ning QI
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  • College of Economics and Management，Shenyang Aerospace University，Shenyang 110136，China

Received date: 2024-10-23

  Revised date: 2024-12-06

  Accepted date: 2024-12-07

  Online published: 2026-03-12

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Abstract

Civil-military integration enterprises serve as core carriers for constructing an integrated national strategic system and capabilities，and enhancing their risk-taking capacity is critically significant for advancing the civil-military integration development strategy. Taking this as the point of departure， which aims to explore the relationship between supply chain concentration and risk-taking capacity， thereby providing theoretical and practical support for the further advancement of the civil-military integration development strategy. The empirical analysis of the listed civil-military integration enterprises in Shanghai and Shenzhen A-shares from 2015 to 2023 finds that： supply chain concentration can improve the risk-taking level of civil-military integration enterprises， and digital transformation plays a positive moderating role in the relationship between the two； secondly， supply chain concentration can improve the level of risk-taking by alleviating corporate financing constraints and reducing information asymmetry； furthermore， supply chain concentration has a more obvious effect on the improvement of risk-taking level of military-to-civil enterprises and large-scale civil-military integration enterprises. The conclusion of the study is that it is of reference significance for civil-military integration enterprises to improve the level of risk-taking through supply chain centralization.

Key words： supply chain concentration; corporate risk-taking; civil-military integration; digital transformation; financing constraint

Cite this article

Hao JING , Qinghe TANG , Ning QI . The impact of supply chain concentration on corporate risk-taking[J]. Journal of Shenyang Aerospace University, 2026 , 43(1) : 83 -89 . DOI: 10.3969/j.issn.2095-1248.2026.01.011

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