Patient Capital and Supply Chain Risk

Description

This study uses a large language model to measure supply chain risk from annual reports and analyzes Chinese listed firms from 2010 to 2024, and examines the impact of patient capital on supply chain risk. The results show that patient capital significantly reduces supply chain risk. Mechanism analysis indicates that enhancing firms’ innovation incentives, alleviating financing constraints, and optimizing supply chain networks are key drivers. Further analysis shows that these effects are stronger in firms with higher financialization levels, stronger industry competition, and located in eastern China. The findings highlight the important value of patient capital in strengthening supply chain risk management and offer a new perspective on how firms can improve risk prevention through long-term resource allocation.

Institutions

• Dalian University of Technology

  Liaoning, Dalian

Categories

Licence