تاثیر ریسک زنجیره تأمین بر عملکرد مالی شرکت ها Supply chain risk’s impact on corporate financial performance

1. Introduction In modern business environments characterized by ever-increasing competition and globalization, managers use innovative technologies and strategies to achieve and sustain competitive advantages (Chan and Qi, 2003). Because supply chains (SCs) consist of all activities associated with the flow and transformation of goods from the raw material stage to the end user (Handfield and Nichols, 1999), effective supply chain risk management (SCRM) via coordination and collaboration among SC partners is key to ensuring profitability and continuity (Brindley, 2004; Tang, 2006). Not surprisingly, a considerable amount of literature has accumulated on the subject (e.g. Kleindorfer and Saad, 2005; Ritchie and Brindley, 2007; Rotaru et al., 2014; Zsidisin, 2003; Zsidisin and Ellram, 2003). One recent finding, for example, is that two organization-level factors, perceived operational similarity and market leadership, significantly influence the risk manager’s likelihood of learning what might trigger other firms’ operational losses (Hora and Klassen, 2013). Another finding is that improved internal integration of core business processes within a company enhances demand visibility and thus decreases demand risk (Kache and Seuring, 2014). However, despite the panoply of studies that acknowledge the importance of SCRs to firm performance (e.g. Bavarsad et al., 2014; Cao and Zhang, 2011; Ghadge et al., 2013; Ritchie and Brindley, 2007; Tracey et al., 2005; Zhao et al., 2013), relatively few analyze the impact of supply chain risk (SCR) on firm financial performance. Although few studies do examine the effects of SCR on financial performance, they largely rely on perceptual measures (e.g. Bavarsad et al., 2014; Cao and Zhang, 2011; Zhao et al., 2013), which fail to provide real financial performance quantitatively. Therefore, the main objective of this research is to assess how SCR affects firm financial performance from the perspective of marginal financial performance (MFP) by using a combined method of surveys and financial reports. Such assessment is significant, as the primary aspect of SCR, according to its definition, involves assessing the impact of an incident or failure in SC operations on financial performance (Zsidisin, 2003). The rest of this paper is organized as follows. Section 2 reviews related studies, Section 3 delineates the test hypotheses, Section 4 describes the sample collection and presents the research methodology, and Section 5 depicts the statistical tests and model building. Section 6 discusses the implications of the research results. Section 7 presents the research summary and conclusions.