摘要
文章选取我国2001-2006年间实施过供应链管理的上市公司前后共4年(从实施前一年到实施后两年)的数据作为样本,运用事件关联影响研究法并剔除行业均值的影响后进行实证研究以探究我国企业实施供应链管理的受益程度。实证结果显示:只有实施后第二年较实施前一年企业的现金周转期平均缩短了14.7天;管理和销售费用占比平均下降了1.01个百分点;营业利润率平均提高了2.49个百分点。其它业绩指标均没有显著的变化。从相关和回归分析的结果看,现金周转期的缩短导致管理、销售费用占比的下降,从而显著地驱动营业利润率的提高。本文的研究结果部分地回答了"信息技术生产率悖论"的问题,无论对学术界还是实务界均具有一定的现实意义。
But how much do the listed firms in China benefit financially from implementing SCM systems？ To search for the answer to this question,the author conducts an Event Study Analysis to test whether the sample firms＇ financial indicators after adjusted for mean industry changes have changed. In this paper,we select the sample from all the listed firms which adopted SCM systems from the year of 2001 to 2006. The results of mean tests indicate that from one year before implementation to one year after implementation,no indicators have changed significantly. From the first year before implementation to the second year after implementation,cash conversion cycle （CCC） shortens 14.7 days on average; The ratio of Selling,General,and Administrative Expenses to Net Sales （SGA） significantly drops 1.01 percentage point; Return on sales （ROS） increases 2.49 percentage point. The correlation and regression analyses show： the shortening of CCC leads to the drop of SGA and further the increase of ROS. In addition,the study on the impact of Financial Supply Chain Management （FSCM） on corporate performance generates a conclusion that deserves further exploration. The conclusion of this paper is helpful to both academic circle and practitioners,because it partially explains＂ the Productivity Paradox of Information Technology＂.
出处
《管理评论》
CSSCI
北大核心
2010年第1期94-104,共11页
Management Review
基金
国家自然科学基金重点课题(70731003)
关键词
供应链管理
财务绩效
事件关联影响研究法
实证研究
Supply Chain Management （SCM）
Financial Performance
Event Study Analysis
Empirical Study
