dc.contributor.author |
Cao, Yue |
|
dc.contributor.author |
Dong, Yizhe |
|
dc.contributor.author |
Ma, Diandian |
|
dc.contributor.author |
Sun, Li |
|
dc.date.accessioned |
2021-08-02T04:10:23Z |
|
dc.date.available |
2021-08-02T04:10:23Z |
|
dc.date.issued |
2021-6-1 |
|
dc.identifier.issn |
1572-3089 |
|
dc.identifier.uri |
https://hdl.handle.net/2292/55778 |
|
dc.description.abstract |
This study empirically investigates the relationship between customer concentration and corporate risk-taking. We find that overall customer concentration significantly reduces corporate risk-taking. However, the relationship varies across different settings. Specifically, the negative relationship between customer-base concentration and corporate risk-taking is only significantly present in more marketized regions, more competitive industries, firms with lower market shares, less innovative and non-state-owned firms, and those without major governmental or state-owned-enterprise customers. Moreover, our panel threshold models indicate significant threshold effects. When customer-base concentration is below the first threshold (low concentration level), it is positively associated with corporate risk-taking. When customer-base concentration increases to above the second threshold, the association turns significantly negative, suggesting that a highly concentrated customer base prompts suppliers to take more precautionary measures and avoid excessive risk-taking. Overall, our findings suggest that the concentration of a supplier's customer base significantly impacts its risk-taking behaviours. |
|
dc.language |
en |
|
dc.publisher |
Elsevier BV |
|
dc.relation.ispartofseries |
Journal of Financial Stability |
|
dc.rights |
Items in ResearchSpace are protected by copyright, with all rights reserved, unless otherwise indicated. Previously published items are made available in accordance with the copyright policy of the publisher. |
|
dc.rights.uri |
https://researchspace.auckland.ac.nz/docs/uoa-docs/rights.htm |
|
dc.subject |
1402 Applied Economics |
|
dc.subject |
1502 Banking, Finance and Investment |
|
dc.title |
Customer concentration and corporate risk-taking |
|
dc.type |
Journal Article |
|
dc.identifier.doi |
10.1016/j.jfs.2021.100890 |
|
pubs.begin-page |
100890 |
|
pubs.volume |
54 |
|
dc.date.updated |
2021-07-27T23:51:34Z |
|
dc.rights.holder |
Copyright: The author |
en |
pubs.publication-status |
Published |
|
dc.rights.accessrights |
http://purl.org/eprint/accessRights/RestrictedAccess |
en |
pubs.subtype |
Journal Article |
|
pubs.elements-id |
857458 |
|
pubs.number |
100890 |
|