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Fintech, supply chain concentration and enterprise digitization: Evidence from chinese manufacturing listed companies

Author

Listed:
  • He, Wei
  • Zhang, Yujiao
  • Wang, Mingshan

Abstract

The rise of fintech has had profound implications for businesses, yet its role in shaping corporate supply chain concentration remains unclear. This study is based on data from Chinese A-share listed manufacturing companies from 2011 to 2020 and examines the impact of fintech on corporate supply chain concentration under the influence of enterprise digitization. The research findings are as follows: fintech promotes corporate supply chain concentration;enterprise digitization amplifies the impact of fintech on enhancing enterprise supply chain concentration; State-owned enterprises are more significantly affected by fintech in terms of corporate supply chain concentration compared to non-state-owned enterprises.

Suggested Citation

  • He, Wei & Zhang, Yujiao & Wang, Mingshan, 2024. "Fintech, supply chain concentration and enterprise digitization: Evidence from chinese manufacturing listed companies," Finance Research Letters, Elsevier, vol. 59(C).
    • Handle: RePEc:eee:finlet:v:59:y:2024:i:c:s1544612323010747
    DOI: 10.1016/j.frl.2023.104702
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    References listed on IDEAS

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    1. Chen, Meng & Tang, Xinlin & Liu, Hefu & Gu, Jibao, 2023. "The impact of supply chain concentration on integration and business performance," International Journal of Production Economics, Elsevier, vol. 257(C).
    2. Hodula, Martin, 2022. "Does Fintech credit substitute for traditional credit? Evidence from 78 countries," Finance Research Letters, Elsevier, vol. 46(PB).
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    2. Bae, Sang Hoo & Saberi, Sara & Kouhizadeh, Mahtab & Sarkis, Joseph, 2025. "Examining blockchain's role in supply chain finance structure and governance," International Review of Financial Analysis, Elsevier, vol. 99(C).
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    8. Yin, Nan & Zhu, Yingming, 2024. "Investigating investor attention to carbon risk from a supply chain perspective," International Review of Financial Analysis, Elsevier, vol. 96(PA).
    9. Panpan Feng & Yimeng Zhang & Seongil Jeon, 2025. "Does ESG Performance Affect Supply Chain Concentration? Evidence From China," American Journal of Economics and Sociology, Wiley Blackwell, vol. 84(3), pages 467-480, May.
    10. Song, Yuchen & Zhu, Mingqi & Wang, Ye, 2025. "Corporate financialization, digital transformation, and industrial supply chain resilience: Mechanisms based on R&D investment and financial regulation," International Review of Financial Analysis, Elsevier, vol. 102(C).
    11. Wang, Jianzhi & Zhu, Jinhe, 2025. "Does the application of blockchain technology enhance total factor productivity of enterprises?," Finance Research Letters, Elsevier, vol. 85(PE).
    12. Karim, Sitara & Husain, Afzol & Lim, Weng Marc & Chan, Ling-Foon & Tehseen, Shehnaz, 2024. "AI, FinTech and clean minerals: A wavelet analysis and quantile value-at-risk investigation," Resources Policy, Elsevier, vol. 99(C).
    13. Zhao, Ningru & Liu, Lanlan & Chen, Youyang & Yu, Xiaoyu, 2025. "Can corporate digitalization deter leverage manipulation? Evidence from China," Finance Research Letters, Elsevier, vol. 84(C).
    14. Luo, Shuangcheng & Xiong, Zhiqiao & Liu, Jianjiang, 2024. "How does supply chain digitization affect green innovation? Evidence from a quasi-natural experiment in China," Energy Economics, Elsevier, vol. 136(C).
    15. Cao, Qinwei & Qian, Yu & Zhong, LinFeng & Meng, Qiaoyu, 2026. "Dual regulatory mechanisms and boundary conditions of digital transformation on open innovation: A supply chain dynamic characteristics perspective," Technology in Society, Elsevier, vol. 84(C).
    16. Mbarek, Marouene & Msolli, Badreddine, 2025. "Assessing linkages between supply chain tokens and other assets: Evidence from a time-frequency quantile connectedness approach," Journal of Behavioral and Experimental Finance, Elsevier, vol. 46(C).
    17. Wang, Mansi & Yu, Xinxin & Hong, Xinyi & Yang, Xiaotao, 2025. "Can digital finance promote green innovation collaboration in enterprises?," Global Finance Journal, Elsevier, vol. 65(C).
    18. Ren, Xiaohang & Liao, Zihui & Tao, Miaomiao & Xiao, Ya, 2025. "Environmental regulations and corporate supply chain deviation: Evidence and financial implications for sustainable economic development," International Review of Financial Analysis, Elsevier, vol. 106(C).
    19. Che, Shuai & Tao, Miaomiao & Silva, Emilson & Sheng, Mingyue Selena & Zhao, Congyu & Wang, Jun, 2024. "Financial misallocation and green innovation efficiency: China's firm-level evidence," Energy Economics, Elsevier, vol. 136(C).
    20. Chen, Zhicheng & Wang, Heng & Wu, Qichun, 2025. "From data to decision: How supply chain network restructuring resolves cost stickiness?," Finance Research Letters, Elsevier, vol. 86(PA).
    21. Wu, Haiyan & Qiao, Yuxuan & Luo, Chuxiang, 2024. "Cross-border e-commerce, trade digitisation and enterprise export resilience," Finance Research Letters, Elsevier, vol. 65(C).
    22. Han, Hongjun & Song, Shu & Tian, Grace (Li), 2025. "Can supply chain finance enhance corporate solvency? — The impact mechanism of corporate litigation," International Review of Economics & Finance, Elsevier, vol. 103(C).
    23. Kang, Yi & Yuan, Tianrong & Tang, Muchen, 2024. "Digitalization's influence on corporate sustainability strategies in the context of new environmental law," Finance Research Letters, Elsevier, vol. 70(C).
    24. Ge, Wenfeng & Yang, Ping & Pan, Xu & Ran, Qiying, 2024. "Sustainable utilization of mining resources: Exploring the impact of FinTech on green development from the perspective of mining enterprises," Resources Policy, Elsevier, vol. 97(C).
    25. Gu, Jiafeng, 2025. "Did supply chain digitization contribute to corporate green energy innovation? The mediating role of asset receivable management and policy spillovers," Energy Economics, Elsevier, vol. 143(C).

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