Modern supply chains face escalating vulnerabilities, especially in the maritime industry. Traditional lean supply chain management lacks flexibility and risk mitigation measures, encouraging the proposal of agile-focused SCM. The success of companies is intricately tied to supplier performance,...

We examine the effect of the risk tolerance of downstream firms (i.e., customers) on the investment inefficiency of upstream firms (i.e., suppliers). Using the pilot licensing status of the CEOs as a proxy for their inherent risk tolerance, we find that customer firms led by pilot CEOs are...