The Role of Supply Chain Finance in Facilitating Green Innovation: An Empirical Study of Core Enterprises in the Era of Digital Transformation

Abstract

With the rapid development of China's economy, supply chain finance, as an important financial service model, plays an important role in solving enterprise financing problems and promoting the coordinated development of industrial chains. Especially in the context of the current digital transformation, the deep integration of supply chain finance and digital technology provides new impetus for green innovation. Based on this background, this paper takes the core enterprises in the industrial chain as the research object. Through model design, it conducts in-depth discussion on the impact of supply chain finance on green innovation performance in the context of digital transformation, and uses empirical research to verify this impact. Through the main regression analysis and mediate analysis, this paper finds that in the context of the digital economy, supply chain finance can improve the green innovation performance of core enterprises, and the financing constraint plays the role of mediator. This conclusion remains valid after replacing the proxy variables with other robustness tests. Based on this, this paper puts forward a series of suggestions from the perspectives of core enterprises, financial institutions and small and medium-sized enterprises for promoting the development of digital supply chain finance, reducing financing constraints of Chinese core enterprises and improving the green innovation performance of Chinese core enterprises.