We also explore the role of the importance of the relationship that a supplier maintains with its<br>Customer. A relationship with a major customer is likely more important to the supplier if the<br>relationship results in higher and more persistent net cash flows or relatively lower risk. One of the factors affecting the supplier's cash flows or risk is the relationship-specific investments that the supplier often make to serve customers (Williamson 1975; Klein, Crawford, and Alchian 1978; Klein 2000; Raman and Shahrur 2008).
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