Supplier concentration and debt maturity structure
Business Process Management Journal
ISSN: 1463-7154
Article publication date: 5 April 2024
Issue publication date: 17 April 2024
Abstract
Purpose
This paper takes Chinese A-share listed companies from 2007 to 2021 as research samples to investigate the influence of supplier concentration on debt maturity structure and its mechanism. It further analyzes whether the relationship between the two is different in the case of different monetary policies, collateral assets, and total debt. The research conclusion is of practical significance for enterprises to construct a balanced debt maturity structure and prevent financial risks.
Design/methodology/approach
This paper adopts the empirical research method. The data came from the CSMAR database, which eliminated ST and *ST and companies with missing data, resulting in a sample of 20,328. Stata16 was used for statistical analysis.
Findings
There is an inverted U-shaped relationship between supplier concentration and debt maturity structure, and market position and trade credit play an intermediary role. In the case of tight monetary policy, fewer collateral assets, and higher total debt, the inverse U-shaped relationship is more significant.
Originality/value
This paper examines the relationship between supplier concentration and debt maturity structure from a non-linear perspective for the first time, providing theoretical support for enterprises to form a reasonable debt structure, and deepening the theoretical cognition of the relationship between supplier concentration and corporate debt maturity structure.
Keywords
Acknowledgements
This work was supported by National Social Science Foundation of China (grant number 19BJY021) and Nature Science Research Project of Anhui province (grant number 2008085MG230).
Citation
Zhang, T., Wang, Y. and Zeng, X. (2024), "Supplier concentration and debt maturity structure", Business Process Management Journal, Vol. 30 No. 2, pp. 612-636. https://doi.org/10.1108/BPMJ-06-2023-0475
Publisher
:Emerald Publishing Limited
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