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1、AbstractAstheimportantstakeholdersofthefirm,supplierandcustomerhaveasignificantinfluenceonmanyaspectsofthefirm,suchasaccountinginformation,managementstrategyandsoon,therefore,thefirm’sincentivetoestablishlong-termcooperativerelationshipswiththemisverystrong.Suppliersprovideproductio
2、nrequiredforthefirm’sproductionandmanagement,theirinvestmentisdeterminedbytheyieldorthesizeofthefirm,theyshouldfullyunderstandthefirm'soperatingconditions,todeterminewhetherprovidingproductionforthefirm,thusidentifyingreceivables,thenanalysingwhetheritcanrecovermoney,decisetograntth
3、efirmcommercialdiscount,cashdiscount,etc;asdemandersoffirm'sproducts,theirpurchasecostsarerelatedtotheproductionandsizeofthefirm,theyshouldknowwhetherthefirmcandeliverytimely,whetherthefirmcankeepstableproductionandsalesdiscountthatthefirmcanofferwhenbuyingproducts.Theimportanceofaf
4、irm’seconomicperformancetoitssuppliersandcustomersleadstoademandfromthesestakeholdersforthefirmtoreportmoreconservatively,asmeasuredbyhowquicklythefirmrecognizesbadnewscomparedtogoodnews.Thisdemandisinpartaconsequenceofmanagershavingincentivestoexploittheirasymmetricallyinformedposi
5、tionrelativetootherfirmstakeholdersbybeinglessforthcomingaboutbadnewsthangoodnews，astheycouldincursignificantcostsifthefirmwentoutofbusiness,butpotentiallygainlittlefromthefirmperformingaboveexpectedlevels.Afirm’ssuppliersandcustomerswillpreferittoaccountmoreconservativelyleadstothe
6、study’smainhypothesisthatafirmonlymeetstheunderlyingdemandforaccountingconservatismfromitssuppliersorcustomerswhenthesestakeholdershavebargainingadvantagesoveritthatallowthemtodictatetermsoftradeorwhethertradeoccursatall.Inthispaper,usingsupplier/customerconcentrationtomeasurethebar
7、gainingadvantagethatsuppliersandcustomershave.Accordingly,thispaperstartedfromthetheoryofaccountingconservatismandtherelatedtheoryofsupplier/customercharacteristics,choosingalltheA-sharelistedmanufacturingcompaniesintheShanghaiStockExchangeandShenzhenStockExchangefrom2007to2013asthe
8、sample,combiningwit
