Zhang Minglun
This study examines the impact of supply chain finance (SCF) on supply chain operational efficiency using panel data from Chinese listed companies between 2014 and 2022. The findings show that SCF significantly improves operational efficiency. Mechanism analysis reveals that faster fund turnover and better information flow are the main ways SCF enhances efficiency. Heterogeneity analysis further shows that SCF has a stronger effect in environments with higher supply chain uncertainty and greater concentration. These results offer a theoretical foundation for using SCF to improve supply chain efficiency in China.
Supply Chain Finance (SCF); Operational Efficiency; supply chains; Fund Flow; Information Flow