“…By drawing on the information of 717 suppliers and their major customers from the Compustat database, Kim (2017) identified the major customer networks and reported that customer interconnection has a positive influence on a supplier's profitability. Similarly, by using the major customer disclosures data, some scholars constructed supply chain (Kao et al, 2017;Kao, Su, & Chen, 2019), and studied the impacts of supply network structure on corporate productive efficiency. In addition, based on the input-output (IO) accounts provided by the Bureau of Economic Analysis, Ahern and Harford (2014) also constructed supply networks at the industry level, revealing the importance of these industrial networks in explaining the formation and propagation of merger waves.…”