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Supply chain finance and tourism enterprise resilience in the context of economic policy uncertainty

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  • Xu, Wenjie
  • Xie, Wenqiang

Abstract

This study explores how supply chain finance affects the resilience of tourism enterprises under economic policy uncertainty, using data from Chinese listed firms from 2011 to 2023. Results show that supply chain finance significantly boosts enterprise resilience. However, this effect is weakened by rising policy uncertainty. In addition, high managerial risk preference can lead to inefficient capital allocation and reduced resilience. Further analysis reveals that the effectiveness of supply chain finance in strengthening resilience varies depending on the operational foundation of the supply chain, the firm’s information ecosystem, and the surrounding digital technology environment.

Suggested Citation

  • Xu, Wenjie & Xie, Wenqiang, 2025. "Supply chain finance and tourism enterprise resilience in the context of economic policy uncertainty," Finance Research Letters, Elsevier, vol. 86(PA).
    • Handle: RePEc:eee:finlet:v:86:y:2025:i:pa:s1544612325016034
    DOI: 10.1016/j.frl.2025.108349
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    References listed on IDEAS

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    Keywords

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    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • L83 - Industrial Organization - - Industry Studies: Services - - - Sports; Gambling; Restaurants; Recreation; Tourism
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

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