2025年4月2日，SJTU-SMU DBA 2018級(jí)曹友兵同學(xué)在交大安泰迎來(lái)了他論文的答辯時(shí)刻。SJTU導(dǎo)師萬(wàn)國(guó)華教授，SMU導(dǎo)師王海教授及林美純教授，一起參加并見(jiàn)證了曹友兵同學(xué)的畢業(yè)答辯。

論文題目

《國(guó)際動(dòng)蕩背景下半導(dǎo)體制造設(shè)備供應(yīng)商的風(fēng)險(xiǎn)管理：實(shí)證研究》

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作者簡(jiǎn)介

曹友兵

SJTU-SMU DBA 2018級(jí)

無(wú)錫氟芯半導(dǎo)體科技有限公司

曹友兵于2010年畢業(yè)于復(fù)旦大學(xué)MBA，創(chuàng)立了專(zhuān)注于半導(dǎo)體設(shè)備零部件分銷(xiāo)的貿(mào)易公司。至今，他已在半導(dǎo)體行業(yè)深耕20余年，目前擔(dān)任無(wú)錫氟芯半導(dǎo)體科技有限公司的創(chuàng)始人兼董事長(zhǎng)。

在他的DBA學(xué)習(xí)之旅中，他在服務(wù)關(guān)鍵國(guó)內(nèi)客戶(hù)時(shí)經(jīng)歷了幾次重大動(dòng)蕩，這些經(jīng)歷激發(fā)了他的研究興趣。通過(guò)訪談和DID分析，他總結(jié)了在全球不確定性下不同行業(yè)領(lǐng)域的運(yùn)營(yíng)影響、短期解決方案和長(zhǎng)期策略。他的研究成果表明，企業(yè)可以采用全球采購(gòu)和庫(kù)存優(yōu)化策略來(lái)減輕沖擊，同時(shí)實(shí)施供應(yīng)鏈本地化和地區(qū)聯(lián)盟策略以應(yīng)對(duì)不確定性。

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論文摘要

半導(dǎo)體作為電子和信息產(chǎn)業(yè)的關(guān)鍵上游組件，因其巨大的市場(chǎng)潛力受到各國(guó)和企業(yè)的廣泛關(guān)注。全球化的半導(dǎo)體供應(yīng)鏈促進(jìn)了專(zhuān)業(yè)化分工，材料、半導(dǎo)體設(shè)備和集成電路領(lǐng)域形成了顯著的技術(shù)壁壘。盡管中國(guó)在多個(gè)領(lǐng)域的半導(dǎo)體行業(yè)占有一定的全球市場(chǎng)份額，但在先進(jìn)技術(shù)及高端市場(chǎng)方面仍顯滯后。自2018年起，美國(guó)對(duì)多家中國(guó)企業(yè)實(shí)施了關(guān)稅上調(diào)和出口限制（即中美貿(mào)易戰(zhàn)），以防止技術(shù)外流，這帶來(lái)了重大的不確定性，嚴(yán)重影響了企業(yè)的運(yùn)營(yíng)管理。

在全球貿(mào)易不穩(wěn)定的大背景下，本文研究了半導(dǎo)體企業(yè)面對(duì)不確定性風(fēng)險(xiǎn)時(shí),供應(yīng)鏈管的理挑戰(zhàn)。鑒于半導(dǎo)體供應(yīng)直接影響下游行業(yè)的生產(chǎn)周期和成本，在去全球化風(fēng)險(xiǎn)上升的背景下,企業(yè)如何克服不確定性來(lái)保證全球競(jìng)爭(zhēng)力變得至關(guān)重要。

本論文采用訪談?wù){(diào)查和定量分析。從管理的角度出發(fā)，我們對(duì)中國(guó)半導(dǎo)體企業(yè)的高級(jí)管理人員進(jìn)行了訪談，以總結(jié)貿(mào)易戰(zhàn)期間不同行業(yè)部門(mén)的運(yùn)營(yíng)影響、短期解決方案及長(zhǎng)期戰(zhàn)略。此外，我們運(yùn)用DID方法驗(yàn)證了制裁后中國(guó)半導(dǎo)體行業(yè)的整體表現(xiàn)，為訪談結(jié)果提供了穩(wěn)健性支持。

研究結(jié)果指明了美國(guó)制裁下半導(dǎo)體企業(yè)的管理決策路徑，為應(yīng)對(duì)不確定性風(fēng)險(xiǎn)提供了管理見(jiàn)解。研究發(fā)現(xiàn)，諸多企業(yè)采取全球采購(gòu)和庫(kù)存優(yōu)化策略來(lái)減輕沖擊，同時(shí)實(shí)施供應(yīng)鏈本地化和區(qū)域聯(lián)盟策略以應(yīng)對(duì)不確定性。這些策略顯著減少了制裁的影響，并大幅提升了中國(guó)半導(dǎo)體行業(yè)的企業(yè)績(jī)效。本研究結(jié)果不僅為供應(yīng)鏈管理提供了理論貢獻(xiàn)，也為從業(yè)者提供了實(shí)際啟發(fā)。

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導(dǎo)師信息

WANG Hai

Dissertation Committee Chair

（haiwang@smu.edu.sg）

Full-time Faculty

Associate Professor of Information Systems

Wan Guohua

Co-Supervisor

(ghwan@sjtu.edu.cn)

Full-time Faculty

Distinguished Professor，ACEM，SJTU

LIN Meichun

Committee Member(s)

（renhuifu@sjtu.edu.cn）

Full-time Faculty

Assistant Professor of Operations Management,Lee Kong Chian School of Business

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Abstract

Semiconductors, as a key upstream component in the electronics and information industries, have attracted global attention from nations and corporations due to their vast market potential. The emergence of globalized semiconductor supply chains has fostered specialized industrial division, with significant technological barriers forming in materials, semiconductor equipment, and integrated circuits. While China's semiconductor industry holds certain global market shares across various sectors, it still lags in advanced technologies and high-end markets. Since 2018, the United States has imposed tariff increases and export restrictions on multiple Chinese enterprises (known as the US-China trade war) to prevent technology outflows, creating substantial uncertainties that significantly impact corporate operations management.

Against the backdrop of global trade instability, this thesis investigates supply chain management challenges faced by semiconductor enterprises confronting uncertainty risks. Given that semiconductor supply directly affects production cycles and costs in downstream industries, it becomes imperative to address how enterprises can overcome uncertainties to maintain global competitiveness amidst rising deglobalization risks.

This thesis employs interview surveys and quantitative analysis. From a managerial perspective, we conducted interviews with senior executives from Chinese semiconductor enterprises to summarize operational impacts, short-term solutions, and long-term strategies across different industry segments during the trade war. Additionally, we apply the Difference-in-Differences method to verify the overall performance of China's semiconductor industry post-sanctions, providing robustness for interview findings.

The results reveal managerial decision-making pathways of semiconductor enterprises under US sanctions, offering management insights for handling uncertainty risks. Findings indicate that enterprises adopted global procurement and inventory enhancement strategies to mitigate shocks, while implementing supply chain localization and regional alliance strategies to address uncertainties. These strategies substantially reduced sanction impacts and significantly improved firm performance in China's semiconductor industry. The findings provide both theoretical contributions to supply chain management literature and practical implications for industry practitioners.

SJTU – SMU DBA

項(xiàng)目簡(jiǎn)介

SJTU – SMU DBA項(xiàng)目是上海交通大學(xué)安泰經(jīng)濟(jì)與管理學(xué)院與新加坡管理大學(xué)李光前商學(xué)院聯(lián)合舉辦的一個(gè)高等學(xué)位教育項(xiàng)目，結(jié)合了中西方頂尖學(xué)術(shù)力量，立足中國(guó)、放眼全球、旨在培養(yǎng)集應(yīng)用、管理、研究大成于一體的企業(yè)家和管理者。本項(xiàng)目充滿了創(chuàng)新與挑戰(zhàn)精神，在課程設(shè)置上側(cè)重研究理論與方法的傳授，在應(yīng)用研究上追求商業(yè)實(shí)踐與學(xué)術(shù)的結(jié)合。學(xué)員從不同的視角來(lái)探索全球商業(yè)社會(huì)，在系統(tǒng)學(xué)習(xí)和論文答辯后，獲得新加坡管理大學(xué)工商管理博士學(xué)位。

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