Supply Chain Finance and Corporate Collaborative Innovation:Empirical Evidence from China

Le résumé fourni par la source

Using panel data from China’s A-share listed manufacturing firms (2012–2022), this study examines whether supply chain finance (SCF) promotes collaborative innovation, measured by joint patents. Regression results reveal that SCF engagement doubles collaborative innovation output by alleviating financing constraints, optimizing trust relationships, and enhancing digital capabilities. In examining firm heterogeneity, we identify a ‘predator effect’ where dominant players excessively capture financial benefits. At the industry level, we observe a ‘threshold protection effect’, where technical barriers in monopolistic and high-tech sectors limit SCF’s utility. Geographically, a significant ‘Matthew effect’ exists, with SCF benefits being pronounced in eastern and western regions but statistically insignificant in central and northeastern provinces. These findings contribute to understanding SCF’s value-creation mechanisms in innovation ecosystems and offer policy insights for strengthening industrial chains.

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