How and Why does a Business-to-Business Firm's Corporate Social Responsibility Disclosure Impact its Dependence on its Major Customers and Major Suppliers?
利用中国监管变化作为准自然实验，发现B2B公司披露CSR使其对主要客户的销售依赖降低2.1%，但对主要供应商的采购依赖提高3.7%，生产效率和营销效率是背后的机制。
Prior research has documented that a firm's disclosure of corporate social responsibility (CSR) makes it a more attractive business partner, boosting its sales. The authors extend this finding to business-to-business (B2B) firms. Using a regulatory change in China as a quasi-natural experiment, they demonstrate that a firm's disclosure of its CSR lowers by 2.1% the firm's dependence (for sales revenue) on its major customers but raises by 3.7% its dependence (for purchases) on its major suppliers. They further show that the firm's production efficiency (marketing efficiency) is a mechanism underlying the effect of CSR disclosure on dependence on major customers (suppliers). Next, they demonstrate that the CSR report's emphasis on the firm's supply chain partners weakens (strengthens) the effect on dependence on major customers (suppliers). The findings contribute to the multidisciplinary evidence on the B2B value of CSR disclosure, and the operations and marketing literature streams on determinants of supply-chain dependence.