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123股票流动性的影响因素和供应链配置的经济后果是近年来理论和实践中的重要问题。文章构建了供应链多元化配置影响股票流动性的理论框架，并以2007—2020年的A股上市公司作为研究样本进行了实证检验。研究发现：（1）供应链多元化配置改善了股票流动性，表明资本市场对供应链多元化配置的优势予以了关注；（2）当公司所处环境的公共治理水平较低时（以上市公司所在地区的信任水平和法律环境为度量），供应链多元化配置对个股流动性的正向效应被显著削弱，表明不健全的公共治理机制可能放大供应链多元化配置的潜在缺陷；（3）公共治理机制对供应链多元化配置与股票流动性关系的调节效应在民营企业中更为显著，表明民营企业对上述关系更为敏感。文章不仅揭示了中国企业供应链多元化配置和股票流动性之间的关系，还强调了健全公共治理机制的重要性，同时为保护民营企业提供了新的视角。
供应链多元化配置、公共治理水平与股票流动性
摘要
参考文献
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引用本文
曹哲涵. 供应链多元化配置、公共治理水平与股票流动性[J]. 上海财经大学学报, 2025, 27(1): 47-61.
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