The Effect of Supplier IPOs on Major Customer Firm Value
Why this work is in the frame
A frame that forgets how it found something cannot be audited. These are the routes that admitted this work.
Bibliographic record
Abstract
ABSTRACT This paper examines how supplier IPO events impact customer firms' value. Building on a bargaining‐power framework, we argue that supplier IPOs provide suppliers with opportunities to reduce their reliance on existing customers, potentially leading to adverse outcomes for these customers. Our analysis reveals that customers experience significant value loss following supplier IPOs. Specifically, customers exhibit negative abnormal returns over long‐term horizons, and Tobin's Q for customer firms declines significantly post‐IPO. Exploring the underlying mechanisms, we find that supplier IPOs lead to increased customer‐base diversification and reductions in trade credit extended to customers, reflecting a shift in suppliers' reliance and bargaining power. These findings highlight the broader implications of supplier IPOs for customer firms within supply chain networks.
Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.
Full frame distilled prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. Learned from the 10,348 direct Codex labels and 10,348 direct Gemma labels. Candidate is the union of thresholded teacher heads; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels or direct frontier model labels.
Codex and Gemma teacher scores by category
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.001 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.001 |
| Science and technology studies | 0.000 | 0.000 |
| Scholarly communication | 0.000 | 0.000 |
| Open science | 0.000 | 0.000 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.000 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it