首都经济贸易大学学报2026，Vol.28Issue(1)：115-128,14.DOI:10.13504/j.cnki.issn1008-2700.2026.01.010
企业碳信息披露与客户集中度
Carbon Information Disclosure and Customer Concentration
摘要
Abstract
With the growing global consensus on addressing climate change,carbon information disclosure has increasingly become one of the key indicators for evaluating corporate environmental performance and social reputa-tion.Customer management has been a critical factor influencing corporate revenue and profitability.For enterpri-ses operating in international markets or positioned at the upstream of supply chains,adopting a transparent carbon information disclosure approach to demonstrate their low-carbon transition capacity can not only strengthen mutual trust with clients but also help secure more orders and cooperation opportunities in highly competitive markets.Ex-amining the relationship between carbon information disclosure and customer concentration enables firms to better recognize the potential value of disclosure decisions and identify focal points for optimizing customer structures.Ex-isting studies have primarily investigated the economic consequences of carbon disclosure from the perspective of in-ternal corporate value,while neglecting its externalities and supply chain demand dimensions.Therefore,it is nec-essary to further leverage corporate information disclosure to enhance supply chain management,and uncover the"black box"of how carbon disclosure affects customer concentration.Moreover,prior research on customer con-centration has focused mainly on its economic consequences,with limited exploration of its determinants,and few studies have examined such determinants from the perspective of carbon disclosure.Given this research gap,this paper adopts a supply chain management perspective to explore the impact of corporate carbon information disclo-sure on customer concentration and to analyze the underlying mechanisms.Specifically,this paper selects Chinese A-share listed companies from 2012 to 2023 as the research sample,and constructs a two-way fixed effects model to investigate the effect of carbon disclosure on customer concentration. The findings are as follows.First,corporate carbon information disclosure reduces customer concentration.In other words,such disclosure attracts more potential customers and lowers a firm's dependence on existing major cli-ents.This conclusion remains robust across multiple tests,providing theoretical support for corporate sustainable development and supply chain management.Second,mechanism analysis reveals that the effect of carbon informa-tion disclosure on customer relationships operates through increasing analyst attention,supplementing market expan-sion capital,and enhancing product differentiation.Third,the impact of carbon disclosure on customer relation-ships is heterogeneous.It is more pronounced in enterprises within polluting industries,in regions with stricter en-vironmental regulation,and in areas with higher degrees of market integration.This paper lays a foundation for sub-sequent research on corporate supply chain management and offers theoretical guidance and practical implications for strategic decision-making in the era of a low-carbon economy.关键词
碳信息披露/客户集中度/供应链管理/分析师关注/市场拓展资金/产品差异化Key words
carbon information disclosure/customer concentration/supply chain management/analyst atten-tion/market expansion capital/product differentiation分类
管理科学引用本文复制引用
甄皓晴,何理,陈迎..企业碳信息披露与客户集中度[J].首都经济贸易大学学报,2026,28(1):115-128,14.基金项目
国家社会科学基金一般项目"数字化赋能企业供应链高质量发展研究"(23BJY072) （23BJY072）
中国非洲研究院2023年度中非合作研究课题"中非合作应对气候变化和推进绿色发展研究"(CAI-J2023-04) （CAI-J2023-04）
中国社会科学院国情调研重大项目"数字化推动企业供应链高质量发展调研"(2024GQZD019) （2024GQZD019）
