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The impact of supply chain digitalization on corporate investment mismatch

Author

Listed:
  • Yu, Miao
  • Wang, Yuyue
  • Duan, Xiaoxia
  • Chen, Jiaqiao
  • Fan, Yingyue
  • Fu, Jian

Abstract

This paper takes Chinese A-share listed companies from 2015 to 2024 as the sample to empirically investigate the impact of supply chain digitalization on enterprises’ “short-term borrowing for long-term use”. The results show that supply chain digitalization significantly inhibits this behavior, and its effect is more pronounced for high-tech enterprises and non-state-owned enterprises. The mechanism test reveals that it works by alleviating financing constraints and improving operational efficiency. Based on this, relevant suggestions are proposed from the perspectives of enterprises, financial institutions, and policies.

Suggested Citation

  • Yu, Miao & Wang, Yuyue & Duan, Xiaoxia & Chen, Jiaqiao & Fan, Yingyue & Fu, Jian, 2026. "The impact of supply chain digitalization on corporate investment mismatch," Finance Research Letters, Elsevier, vol. 95(C).
    • Handle: RePEc:eee:finlet:v:95:y:2026:i:c:s1544612326002734
    DOI: 10.1016/j.frl.2026.109743
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    Keywords

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    JEL classification:

    • D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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