基于2010—2017年沪深A股71家农业类上市公司数据，考察了客户集中度与农业企业绩效之间的关系，结果表明：农业类上市公司客户集中度对其企业绩效产生显著的负向影响，即客户集中度每提高1%，会使其总资产收益率下降0.062%；资产专用性对客户集中度与农业企业绩效之间的关系具有调节作用，资产专用性的提高能够显著抑制客户集中度对农业企业绩效的负向影响；进一步将农业企业按产权性质划分，发现较高程度资产专用性对客户集中度与企业绩效关系的调节作用仅在国有农业企业样本中显著存在。

Based on the data of 71 agricultural listed companies listed on Shanghai and Shenzhen a-shares from 2010 to 2017, the relationship between customer concentration and performance of agricultural enterprises was investigated. The research showed that: the customer concentration of agricultural listed companies had A significant negative impact on their enterprise performance. Asset specificity has a moderating effect on the relationship between customer concentration and performance of agricultural enterprises. The interaction coefficient between customer concentration and asset specificity is significantly positive at the level of 5%, that is, the improvement of asset specificity can significantly inhibit the negative impact of customer concentration on performance of agricultural enterprises. Further dividing agricultural enterprises according to property rights, it is found that the moderating effect of higher degree of asset specificity on the relationship between customer concentration and enterprise performance exists only in the sample of state-owned agricultural enterprises.

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