Empirical Analysis of Customer Risk and Corporate Financing Constraints Based on Supply Chain Networks

Table 1

Customer risk evaluation index system.

Objective layer	Primary evaluation index	Secondary evaluation index	Secondary evaluation index description
Customer risk	Customer external macro environment	Economic policy uncertainty	The degree of economic policy uncertainty in the province where the customer is located
		Industry competition environment	The competition level in the customer’s industry
		Regional legal environment	The legal environment of the province where the customer is located
	Customer’s financial status	Profitability	Customer business profitability, measured by earnings per share
		Solvency	The solvency of the customer enterprise, measured by the asset-liability ratio
		Operational capability	The operating capacity of the customer enterprise, measured by the total asset turnover ratio
		Development capacity	The development capacity of the customer’s enterprise, measured by the revenue growth rate
	Customer’s operational risk	Senior executives	Working age of senior executives
		The situation that the company is regulated	The situation that the company is punished or inquired
		Company’s internal control	The effectiveness of the company’s internal control measured by the internal control index
		Operational stability	Earnings volatility, measured by ROA volatility
	Customer relationship risk	Relationship investment	Whether there are relationship investments between customers
		Relational risk	Dependence on customers, measured by customer concentration