Research on the Impact of Supply Chain Finance Based on Blockchain Technology on Enterprise Innovation Performance

Nana Wang; Ning Zhang

doi:10.54097/d9q6fk48

Authors

Nana Wang
Ning Zhang

DOI:

https://doi.org/10.54097/d9q6fk48

Keywords:

Supply Chain Finance, Financing Constraints, Green Technological Innovation, Enterprise Innovation Performance, Blockchain Technology.

Abstract

This study aims to explore the impact mechanism of supply chain finance on enterprise innovation performance through the chain mediating effect of financing constraints and green technological innovation. Using data from 2014 to 2023 as the research sample, this paper employs a two-way fixed-effect model and mediating effect test method, combined with the background of blockchain technology empowering supply chain finance, to analyze the direct impact of supply chain finance development level on enterprise innovation performance and its indirect action paths. The research results show that supply chain finance can significantly improve enterprise innovation performance, and achieve a significant positive impact through two paths: alleviating financing constraints and improving the level of green technological innovation. Heterogeneity analysis indicates that the benefits are more significant for non-state-owned enterprises, non-heavy pollution industries, and enterprises in eastern regions. This study provides a theoretical basis and practical reference for optimizing supply chain financial services and promoting the construction of enterprise innovation ecosystems.

Downloads

Download data is not yet available.

References

[1] Yang Yi, Shi Shuhe. Can Supply Chain Finance Improve Enterprise Innovation Investment Level?—Heterogeneity Perspective Based on Financing Constraint Level and Property Rights [J]. Wuhan Finance, 2021, (12): 59-67.

[2] Yang Yalin, Wu Qiang. Exploration on the Impact Mechanism of Supply Chain Finance on the Innovation of Retail Enterprises—From the Perspective of Financing Constraints [J]. Journal of Commercial Economics, 2025, (02): 150-153.

[3] Zhong Fengying, Leng Bingjie. Employee Stock Ownership Plan, Internal Control and Innovation Performance [J]. Economic Issues, 2022, (08): 120-128.

[4] Li Dandan. Research on the Impact of Government R&D Subsidies on Enterprise Innovation Performance—Based on the Perspective of Enterprise Scale and Property Right Heterogeneity [J]. Economic Report, 2022, 9(01): 141-161.

[5] Zhang Jichang, Long Jing. Digital Transformation, Dynamic Capability and Enterprise Innovation Performance—Empirical Evidence from High-tech Listed Enterprises [J]. Economy and Management, 2022, 36(03): 74-83.

[6] Luo Feng, Yang Dandan, Liang Xinyi. How Does Regional Innovation Policy Affect Enterprise Innovation Performance?—Empirical Analysis Based on the Pearl River Delta Region [J]. Science of Science and Management of S&T, 2022, 43(02): 68-86.

[7] Ma Yonghong, Li Baoxiang. Digital Economy, Regional University Knowledge Transfer and High-tech Enterprise Innovation Performance [J]. Journal of Systems Management, 2022, 31(03): 522-533.

[8] Guo Jie. The Impact of Supply Chain Finance on Enterprise Total Factor Productivity—Empirical Evidence from Chinese A-share Listed Companies [J]. Modern Finance, 2024, (04): 22-29+21.

[9] Zhang Yufei, Yuan Changhong, Zhang Shuman. Research on the Impact of Building Industry-University-Research Innovation Consortiums on the Innovation Performance of Science and Technology Small and Medium-sized Enterprises [J]. Chinese Journal of Management, 2023, 20(01): 76-85.

[10] Liu Jingyi, Yang Mei, Guo Jing. Can Supply Chain Finance Alleviate the Financing Constraints of Technology-based Small and Medium-sized Enterprises?—Empirical Data from Small and Medium-sized Board Listed Companies [J]. Friends of Accounting, 2019, (10): 116-121.

[11] Xu Tianli. Supply Chain Finance and Green Innovation of Manufacturing Enterprises [J]. Research on Technical Economics and Management, 2024, (09): 69-74.