The impact of social capital on major customer supply chain power
研究了美国县级社会资本如何影响企业对其供应链合作伙伴的议价能力，发现社会资本高的地区企业供应链权力更强，且对耐用品制造商和服务业影响更显著。
• We investigate the impact of regional social capital for firms in attaining bargaining power over their supply chain. • We find a positive relationship between firm-level supply chain power and US county-level social capital. • The positive association is stronger for durable goods manufacturers and the services industry, but not for the nondurable goods manufacturers. • Our results are robust to endogeneity concerns, addressed through two-stage least squares regression (2SLS) analysis. We investigate the impact of regional social capital on firms' ability to attain bargaining power over their supply chain partners. Using ordinary least squares and instrumental variables estimations, we find a positive relationship between firm-level supply chain power and US county-level social capital. Additionally, we observe this positive effect to be stronger for firms in durable goods manufacturing and the services industry, but not for nondurable goods manufacturers. We conclude that firms headquartered in US counties with high social capital are preferred by suppliers, resulting in greater supply chain power.