IDEAS home Printed from https://ideas.repec.org/a/eee/finana/v91y2024ics1057521923005604.html
   My bibliography  Save this article

Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China

Author

Listed:
  • Bai, Hengrui
  • Huang, Lingyu
  • Wang, Ziqi

Abstract

Supply chain financing (SCF) has become an important supplement for financing access, and enterprise innovation is essential for enterprise development. In this paper, we explore the effects of SCF on enterprise innovation in the context of digital financial inclusion (DFI) development. Using the fixed effects model based on the sample of A-share listed firms in Shenzhen Stock Exchange from 2011 to 2021, we find that SCF significantly increases enterprise innovation. The DFI development has positive moderating effects on the relationship between SCF and enterprise innovation. The effect occurs by easing firms' financial constraints. Heterogeneity analysis results show that the promotive relationship is more significant among non-state-owned enterprises (non-SOEs), high-tech enterprises, enterprises in eastern regions and enterprises with low information disclosure quality. Furthermore, we find that in the context of DFI development, SCF promotes innovation activities for state-owned enterprises (SOEs) but it inhibits them for non-high-tech enterprises, enterprises in non-eastern regions and enterprises with high information disclosure quality. After robustness tests, we find that the results of this study remain valid.

Suggested Citation

  • Bai, Hengrui & Huang, Lingyu & Wang, Ziqi, 2024. "Supply chain financing, digital financial inclusion and enterprise innovation: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 91(C).
    • Handle: RePEc:eee:finana:v:91:y:2024:i:c:s1057521923005604
    DOI: 10.1016/j.irfa.2023.103044
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1057521923005604
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.irfa.2023.103044?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    Keywords

    Supply chain financing; Digital financial inclusion; Enterprise innovation; Digital financial inclusion index;
    All these keywords.

    JEL classification:

    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics
    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • G39 - Financial Economics - - Corporate Finance and Governance - - - Other

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finana:v:91:y:2024:i:c:s1057521923005604. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/inca/620166 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.