Patience Capital Drives the Green Transformation of Supply Chain
Abstract
transition of supply chains, with a particular focus on its stabilizing effect on firms' market shares. This study utilizes a non-equilibrium panel
dataset comprising 4, 561 "chain leader firmsupstream and downstream firmsannual" observations from Chinese A-share listed companies
(20032024) with a ratio of overseas sales of 5% or higher. As a measure of green transition, we adopted the logarithm of the number of green
patent registrations by upstream and downstream firms plus one. Patience capital consists of two dimensions: relational debt and stable equity.
Fixed-effects regression analysis demonstrated that patience capital has a significant positive effect. These findings contribute to the literature
on the sustainability of patience capital and the green transition of supply chains.
Keywords
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DOI: http://dx.doi.org/10.70711/frim.v4i5.9386
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