공급사슬 간 협력관계 구축을 통한 공급사슬위험 축소 전략 : 신규공모주 시장의 증거

초록

In this paper, we study a supply chain risk management with a case from IPO (Initial Public Offering) underwriting syndicate to suggest strategic policy for distributors market. For the research purpose, the first, we review the literature on IPOs underwriting syndicate. The second, with unique data of the syndicates underwriting IPOs, we try to figure it out the reasons the market is willing to collaborate as a unity for offering the IPOs and the IPOs are underpriced. We present that links among underwriters are not symmetric nor equivalent in social network. Besides, the formation of a syndicate is affected by the experience of the formation between the lead manger and other underwriters, the reputations, and the marketing channels. Finally, we conclude that under risk exposure supply chain collaboration could be chosen by market participants to obtain the risk hedge. Otherwise, the supply chain ecosystem would not be sustainable due to the continuous competition. We report a solid evidence on strong relationship between the supply chain cooperation and supply chain risk reduction.

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