Supply Chain Finance and Corporate Digital Technology Innovation——Influence Effect,Role Mechanism and Effect Evaluation under Local Government Support Policies
Digital technology innovation is an important activity for enterprises to shape their core competitiveness in the new era and new stage.Based on the data of A-share listed enterprises in Shanghai and Shenzhen from 2011 to 2022,this paper empirically examines the empowering effect and mechanism of supply chain finance on enterprise digital tech-nology innovation.The empirical study finds that,first,the greater the intensity of supply chain finance,the more it helps to improve the level of digital technology innovation activities of enterprises.Second,supply chain finance can have a typical and prominent role in promoting the digital technology innovation activities of enterprises in enterprises with greater economic policy uncertainty,enterprises in the central and western regions,and enterprises in the digital technol-ogy industry.Third,supply chain finance can effectively improve the financial status of enterprises,enhance the ability of risk smoothing and correct investment and financing behaviors,which all contribute to the growth of enterprises'digital technology innovation level.Fourth,the tilt and attention of government departments to supply chain finance policy is an important external policy condition for supply chain finance to play a role,and in enterprises with strong government sup-ply chain finance policy support,the promotion role of supply chain finance on enterprise digital technology innovation is significantly enhanced.
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