流通标准一体化如何促进企业供应链效率提升——来自国家物流标准化试点政策的经验证据

摘要：

【目的】流通标准一体化在畅通国民经济循环中发挥着重要作用，是加快建设全国统一大市场的关键举措。物流是流通的核心，本文旨在检验物流标准化对企业供应链效率的影响。【方法】以国家物流标准化试点政策的实施为准自然实验，基于2005—2023年中国A股上市公司的数据，采用多时点双重差分模型进行实证分析。【结果】研究发现，物流标准化显著促进企业供应链效率提升，该结论经过系列稳健性检验依然成立。机制检验表明，物流标准化试点建设通过降低供应链中断风险、促进供应链数字化、增强企业信贷可得性等渠道提升供应链效率，且分析师关注度与组织惯性越高的企业，上述促进效应越显著。异质性分析显示，物流标准化的赋能作用在非重污染企业、非高科技企业及中部地区企业中更为突出。进一步研究发现，供应链效率提升能够提高企业营运资金周转率、现金及现金等价物周转率、总资产周转率及全要素生产率，并降低绿色代理成本。【结论】本文结论不仅为政府持续推动现代流通体系建设提供了理论支持，也为企业提升供应链效率、培育供应链竞争新优势提供了实践指导。

Abstract:

[Objective] The integration of circulation standards is pivotal to the smooth functioning of the national economy and represents a critical element in building a unified national market. Logistics, as the core of circulation, fundamentallyshapes economic efficiency. This study examines the impact of logistics standardization on corporate supply chain efficiency. [Methods] Leveraging the National Logistics Standardization Pilot Program as a quasi-natural experiment, the study employs a multi-period difference-in-differences model based on data from Chinese A-share listed companies over2005-2023. [Results] The study finds that logistics standardization significantly enhances corporate supply chain efficiency, with results robust to multiple specification checks. Mechanism tests show that the pilot programs operate through three channels: reducing supply chain disruption risks, promoting digitalization, and improving credit access. These effects are amplified in firms with higher analyst coverage and greater organizational inertia. Heterogeneity analysis further reveals that the policy effects are more pronounced among non-heavily polluting firms, non-high-tech firms, and those in central China. Additionally, improved supply chain efficiency increases working capital turnover, cash-and-cash-equivalents turnover, total asset turnover, and total factor productivity, while reducing green agency costs. [Conclusion] These findings provide theoretical support for government efforts to develop modern circulation systems and offer practical guidance for firms seeking to enhance supply chain efficiency and cultivate new competitive advantages.

引用格式：胡智诚，王煜，刘筱颖，等.流通标准一体化如何促进企业供应链效率提升——来自国家物流标准化试点政策的经验证据 [J]. 标准科学，2026 (4)：16-42 .

基金项目：本文受国家自然科学基金青年科学基金项目“龙生龙凤生凤？烙印理论视角下组织遗产继承对新兴技术初创企业成长的影响研究”（项目编号：72202234）；中国博士后科学基金面上项目“解耦视角下高管经历对企业风险承担及策略性创新的影响研究”（项目编号：2021M693547）资助。

作者简介：胡智诚，本科，研究方向为绿色金融、产业经济、供应链管理。王煜，本科，研究方向为物流标准化、供应链管理、产业经济。刘筱颖，本科，研究方向为数据科学、机器学习、深度学习。穆文，通信作者，博士，讲师，研究方向为技术创新、技术创业、战略管理。