This paper uses the relevant data of A-share listed companies from 2009 to 2020 to explore the relationship between supply chain finance and micro-enterprise investment efficiency. The results show that there is a positive correlation between supply chain finance and enterprise investment efficiency,and the concentration of supply chain promotes the relationship between them. Further study finds that the relationship between the two is more significant in the sample of firms with lower external environmental uncertainty,higher level of industry competition,and higher internal R&D expenditure. The conclusion of this paper enriches the research on economic consequences of supply chain finance to micro-enterprises and provides a new perspective for improving the investment efficiency of real enterprises.
维普
万方数据