Abstract: As an important part of the social network, supply chain network will have an important impact on a company' s production and operation and strategic decision-making. This paper takes the non-financial A-share listed companies from 2004 to 2019 as the research sample, builds a supply chain network based on the top five suppliers and customer information of listed companies, uses the network centrality index to describe the location characteristics of the supply chain network where the company is located, and examines the impact of supply chain network centrality on company's risk-taking. The research results show that the closer a company is to the center of the supply chain network, the higher level of risk it will take. This is mainly because the central position of the supply chain network can promote the sharing of information and resources between the company and upstream and downstream enterprises. The mechanism test finds that the centrality of supply chain network mainly improves the level of risk-taking by improving the ability of companies to obtain information and resources. The economic consequence test finds that the information and resource advantages in the center of the supply chain network help enterprises form differentiated competitive strategies and improve their innovation ability. This paper not only enriches the literature in the two fields of supply network location characteristics and company's risk-taking, but also has positive practical significance for companies to seek growth power and realize high-quality development from the location of supply chain network.

Key words: supply chain network centrality, risk-taking, information asymmetry, competitive strategy, innovation ability