Abstract: Due to the differences in law and culture，as well as the influence of geographical distance and other factors，the information asymmetry in the international trade market is more prominent Therefore，it is difficult for foreign importers to fully obtain the quality information of each exporters products，and they rely more on the collective reputation level of ‘groups’ to make purchasing decisions When the collective reputation shock occurs，foreign importers expect that the quality of products within the ‘group’ is problematic，thereby reducing the purchase of the ‘group’ products Moreover，the higher the degree of information asymmetry，the higher the dependence on the collective reputation in the consumer decisionmaking process，and the greater the negative impact of the collective reputation shock on export
In the empirical analysis，this paper uses the exogenous and representative CCTV ‘315’ party exposure event to measure the negative collective reputation shock，which is specific to the regional industry level Then，a triple difference model is constructed to examine the impact of collective reputation shock on the export of enterprises in the same ‘group’ This paper finds that after the shock，the export value and export quantity of corresponding products of other enterprises in the same city decrease significantly，and this conclusion is still valid after considering the potential identification problem This paper further studies the scope of the impact of collective reputation shock It is found that in the industry dimension，the impact is limited to the same quartile industry In the regional dimension，the impact still has a significant negative impact on the export of other enterprises in the same province
This paper also finds that the product identification function of trademark brand and the strengthening effect of historical repeat transactions on individual reputation make the enterprises in the ‘group’ effectively avoid the impact of collective reputation shock by alleviating information asymmetry The farther the geographical distance between the enterprise and the export destination country is，the higher the degree of information asymmetry is Therefore，the more foreign importers rely on collective reputation to make purchase decisions，the greater and more significant the negative impact of collective reputation shock on exports
This paper provides theoretical support for the importance of collective reputation in the export market，and provides a reference for enterprises to avoid the effects of collective reputation shock Specifically，we suggest that local governments should take measures such as strict supervision，regular spot checks，and increased penalties to crack down on shoddy goods severely It is expected to significantly increase the fraud cost of enterprises in the ‘group’ At the same time，it is recommended to continue to promote the facilitation of trademark registration，encourage enterprises to actively carry out trademark brand certification，and encourage foreign trade enterprises to continue to deepen the international market

Key words: collective reputation shock, enterprise export, information asymmetry

摘要： 本文以外生且具有代表性的央视“315”晚会曝光事件，衡量特定于地区行业的负面集体声誉冲击，并构建三重差分模型，考察集体声誉冲击对同“群体”内企业出口的影响。研究发现：在冲击发生后，同城市其他企业的对应产品出口额和出口数量显著下降，且考虑潜在的识别问题后该结论依然成立。进一步关注集体声誉冲击的影响范围，发现在行业维度，影响局限于相同4分位行业；在地区维度，冲击对同一省份其他企业的出口仍有显著负向影响。本文研究还发现：商标品牌的产品识别功能，以及历史重复交易对个体声誉的强化作用，均通过缓解信息不对称，使“群体”内企业有效规避了集体声誉冲击的影响。企业与出口目的国的地理距离越远，信息不对称程度就越高，集体声誉冲击的负向影响也就越大。本文的研究为集体声誉在出口市场的重要性提供了理论支撑，同时为企业如何规避集体声誉冲击的不利影响，提供了参考。

关键词: 集体声誉冲击, 企业出口, 信息不对称