Supply Chain Finance and New Quality Productive Forces: Evidence from Chinese A-Share Listed Firms

Yongen Xian

doi:10.54097/hwvw5v34

Authors

Yongen Xian

DOI:

https://doi.org/10.54097/hwvw5v34

Keywords:

Supply chain finance, New quality productive forces

Abstract

The upgrading of productivity driven by innovation, green transformation, and digitalisation has become a central concern in the pursuit of high-quality economic development. Against this background, this study investigates whether and how supply chain finance promotes firms’ new quality productive forces. The results show that supply chain finance significantly enhances firms’ new quality productive forces, and this finding remains robust across multiple specifications. Mechanism analysis indicates that alleviating financing constraints, improving operational efficiency are key channels through which supply chain finance promotes productivity upgrading. Further analysis reveals that the positive effect of supply chain finance is more pronounced for small and medium-sized enterprises, private firms, and firms located in central and western regions.

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