Abstract:

With the continuous improvement of the national high-speed railway network, the geographical distribution of suppliers of enterprises continues to extend. Making full use of the time-space compression advantage of high-speed railway and exerting the productivity effect of the expansion of the geographical distribution of suppliers are of great practical significance to the construction of a unified national market. This paper utilizes the data information of listed companies and their top five suppliers from 2008 to 2021， combined with the latitude and longitude of the locations of the enterprises and suppliers， and their high-speed rail connectivity， to deeply explore the impact of the expansion of suppliers' geographical distribution on the total factor productivity of enterprises and the moderating effect of the opening of high-speed rail. The research finds that： ①The expansion of suppliers' geographical distribution has a significant promotion effect on enterprises' total factor productivity， and this conclusion still holds after a series of robustness tests such as substitution variables， instrumental variable tests， and consideration of exogenous policy shocks； ② The promotion effect of the expansion of suppliers' geographical distribution on enterprises' total factor productivity is heterogeneous due to the differences in enterprises' ownership， geographical region and the industry's technological talent intensity； ③ The mechanism analysis shows that the expansion of suppliers' geographical distribution increases firms' total factor productivity through three mechanisms： specialization， innovation spillover， and supply chain resilience enhancement； ④ The opening of the high-speed rail would strengthen the promotion effect of the expansion of suppliers' geographical distribution on firms' total factor productivity.

Key words: geographical distribution of suppliers, total factor productivity, opening of high-speed railway, specialized division of labor, innovation spillovers, supply chain resilience

摘要：

随着全国高铁网络的不断完善，企业供应商的地理分布持续向外延伸。利用高铁开通的时空压缩优势，充分发挥供应商地理分布扩张的生产率效应，对高质量发展阶段下全国统一大市场的建设具有重要现实意义。利用2008—2021年上市公司及其前五大供应商数据信息，结合企业与供应商所在地的经纬度及其高铁连通情况，深入探讨供应商地理分布扩张对企业全要素生产率的影响及对高铁开通的调节作用。研究发现：①供应商地理分布扩张对企业全要素生产率有显著的促进作用，在经过替换变量、工具变量检验、考虑外生政策冲击等一系列稳健性检验后结论仍然成立；②供应商地理分布扩张对企业全要素生产率的促进作用因企业所有制、地理区域及行业技术人才密集程度的差异而存在异质性；③机制分析表明，供应商地理分布扩张通过专业化分工、创新溢出、供应链韧性提升三个机制提高企业全要素生产率；④高铁开通能够强化供应商地理分布扩张对企业全要素生产率的促进效应。

关键词: 供应商地理分布, 全要素生产率, 高铁开通, 专业化分工, 创新溢出, 供应链韧性