The Impact of Government Digital Procurement Policies on the Business Credit Financing Capability of Enterprises:Mechanism Analysis and Heterogeneity Effect Exploration
In the context of the development of Digital China,does the government's policy on the procurement of digital products or services,as a characteristic institutional arrangement for the transformation of old and new momentum,have an impact on the financial allocation decisions in the corporate supply chain?Based on government procurement contract information from 2015 to 2021 and data from listed companies,this paper innovatively constructs government digital procurement indicators to investigate the impact of government digital procurement on enterprise business credit acquisition and its underlying mechanisms.The study reveals that government digital procurement significantly enhances the ability of enterprises to obtain business credit,primarily by facilitating the digital transformation of business and enhancing corporate reputation.Heterogeneity analysis shows that the promotional impact of government digital procurement on enterprise business credit acquisition is particularly evident in state-owned enterprises,companies facing high environmental uncertainty,business with high supplier concentration,enterprises with small credit scales,strategic emerging industries,and companies located in central cities.From the perspective of a unified national market,it is found that local government digital procurement in central cities notably promotes the acquisition of business credit by local enterprises,whereas procurement from remote areas mainly benefits companies in peripheral cities.Moreover,compared to central procurement,the spillover effect of supply chain funds from local digital procurement is more pronounced,especially in central cities.The research findings provide useful insights for further improving the dynamic digital procurement institutional arrangements in China,fostering high-quality development of upstream and downstream business in the supply chain,and promoting the integration of data element markets.
government digital procurementbusiness credit acquisitionsupply chain cooperationnational unified large market
万方数据
维普
