Customer Concentration and Capacity Utilization of Listed Companies

WANG Long-feng; MA Zhong; HU Yun-yun

Volume 35 Issue 3

May 2021

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Article Navigation > Journal of Guangdong University of Finance & Economics > 2020 > 35(3): 57-69+83

WANG Long-feng, MA Zhong, HU Yun-yun. Customer Concentration and Capacity Utilization of Listed Companies[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(3): 57-69+83.

Citation:

WANG Long-feng, MA Zhong, HU Yun-yun. Customer Concentration and Capacity Utilization of Listed Companies[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(3): 57-69+83.

WANG Long-feng, MA Zhong, HU Yun-yun. Customer Concentration and Capacity Utilization of Listed Companies[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(3): 57-69+83.

Citation:

WANG Long-feng, MA Zhong, HU Yun-yun. Customer Concentration and Capacity Utilization of Listed Companies[J]. Journal of Guangdong University of Finance & Economics, 2020, 35(3): 57-69+83.

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Customer Concentration and Capacity Utilization of Listed Companies

1.
School of Economics and Management, Beijing Jiaotong University, Beijing 100044, China
2.
School of Business, University of Birmingham, Birmingham B152TT, UK

Received Date: 2019-09-23
Available Online: 2021-05-13
Publish Date: 2020-06-28

Abstract

Abstract

Based on the asymmetric impact of customer concentration on capacity investment and disposal, this paper analyzes the determinant mechanism of capacity utilization rate of enterprises, and employs the data from manufacturing listed companies in Chinese A-share stock markets from 2008 to 2017 to examine the impact customer concentration on utilization rate. It is found that the customer concentration will reduce the capacity utilization rate of the enterprise, and the impact will be weakened when the enterprise has a high market competitive position or is in a high prosperity industry. The concentration of customers has restrained the cyclical relationship between the capacity investment and capacity disposal of enterprises, making them show an asymmetric relationship, thus causing a backlog of idle capacity and reducing capacity utilization. The findings will enrich the theoretical explanation of the overcapacity determination mechanism from the perspective of customer relationships, which expands the research on the economic consequences of customer concentration, and provides a reference for companies to optimize their customer relationships for capacity management.
- customer concentration,
- capacity utilization,
- supply-side structural reform,
- capacity investment,
- capacity disposal,
- market competitive position,
- overcapacity

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References(31)

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