Supply chain innovation support policies, financing constraints, and corporate digital transformation

IF 9.8 1区经济学 Q1 BUSINESS, FINANCE

International Review of Financial Analysis Pub Date : 2025-09-16 DOI:10.1016/j.irfa.2025.104639

Dongxia Liu , Liming Chen

引用次数: 0

Abstract

This study, based on panel data of Chinese A-share listed companies from 2012 to 2023, employs the Difference-in-Differences (DID) method to systematically evaluate the impact of supply chain innovation support policies on firms' digital transformation and its underlying mechanisms. The findings reveal that: supply chain innovation policies significantly propel the process of firms' digital transformation; these policies facilitate firms' allocation of more resources to digital transformation by alleviating financing constraints; industry concentration amplifies the promotional effect of supply chain innovation policies on firms' digital transformation; and the extent of digital transformation enhancement is significantly higher for state-owned enterprises compared to non-state-owned ones.

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供应链创新支持政策、融资约束与企业数字化转型

本研究基于2012 - 2023年中国a股上市公司面板数据，采用差分法系统评估供应链创新支持政策对企业数字化转型的影响及其潜在机制。研究发现：供应链创新政策对企业数字化转型具有显著推动作用；这些政策通过缓解融资约束，促进企业将更多资源分配给数字化转型；产业集中度放大了供应链创新政策对企业数字化转型的促进作用；国有企业的数字化转型提升程度明显高于非国有企业。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

International Review of Financial Analysis BUSINESS, FINANCE-

CiteScore

10.30

自引率

9.80%

发文量

366

期刊介绍： The International Review of Financial Analysis (IRFA) is an impartial refereed journal designed to serve as a platform for high-quality financial research. It welcomes a diverse range of financial research topics and maintains an unbiased selection process. While not limited to U.S.-centric subjects, IRFA, as its title suggests, is open to valuable research contributions from around the world.