机构投资者持股对跨境电商企业供应链数字化转型的影响研究

Study on the Impact of Institutional Investor Ownership on the Digital Transformation of Supply Chains in Cross-Border E-Commerce Companies

摘要: 在数字经济深度渗透与跨境贸易全球化升级的双重背景下，供应链数字化转型已成为跨境电商企业突破发展瓶颈、构建核心竞争力的关键路径。机构投资者作为资本市场的专业力量，凭借其资金优势、治理能力与资源整合能力，对企业战略决策产生重要影响，进而作用于跨境电商企业供应链数字化转型进程。本文基于委托代理理论与供应链协同理论，结合跨境电商供应链“长链条、高波动、多主体”的独特特征，系统分析机构投资者持股对跨境电商企业供应链数字化转型的影响路径，剖析当前二者互动过程中存在的现实困境，并提出针对性优化建议，为跨境电商企业借助机构投资者力量推进供应链数字化转型提供理论参考与实践指引。

Abstract: Against the dual backdrop of the deep penetration of the digital economy and the globalization of cross-border trade, the digital transformation of supply chains has become a key pathway for cross-border e-commerce enterprises to overcome development bottlenecks and build core competitiveness. As professional players in the capital market, institutional investors exert a significant influence on corporate strategic decision-making through their financial strength, governance capabilities, and resource integration capabilities, thereby impacting the digital transformation process of cross-border e-commerce enterprises’ supply chains. Based on principal-agent theory and supply chain coordination theory, and taking into account the unique characteristics of cross-border e-commerce supply chains—namely, their “long chains, high volatility, and multiple stakeholders”—this paper systematically analyzes the pathways through which institutional investor ownership influences the digital transformation of cross-border e-commerce enterprises’ supply chains. It dissects the practical challenges currently present in the interaction between the two parties and offers targeted optimization recommendations, thereby providing theoretical references and practical guidance for cross-border e-commerce enterprises seeking to leverage the power of institutional investors to advance their supply chain digital transformation.