数字金融对供应链绩效的影响机理研究——基于混合方法的实证  

Research on the Impact of Digital Finance on Supply Chain Performance——An Empirical Study Based on Mixed Methods

作　　者：夏雨[1] 刘婷婷 魏明侠[1] XIA Yu;LIU Tingting;WEI Mingxia(School of Management,Henan University of Technology,Zhengzhou 450001,China)

机构地区：[1]河南工业大学管理学院,郑州450001

出　　处：《哈尔滨商业大学学报（社会科学版）》2024年第4期64-78,共15页Journal of Harbin University of Commerce:Social Science Edition

基　　金：国家社会科学基金重点项目“数字金融生态系统演化机制研究”(23AGL010);河南省高校哲学社会科学创新人才支持计划(2024-CXRC-04);河南省哲学社会科学规划年度项目“数字金融生态系统的构建与演化路径研究”(2023BJJ019);河南省高校人文社会科学研究一般项目“数字化背景下异质双渠道供应链融资决策机制研究”(2024-ZZJH-021);河南省高等学校哲学社会科学创新团队资助项目(2019-CXTD-04)。

摘　　要：数字金融对社会经济发展产生了深远影响,而供应链经济是构建新发展格局、畅通经济双循环的重要微观基础。以2011—2021年创业板中小企业上市公司及其披露出的前五大供应商和客户为样本探究数字金融对供应链绩效的影响,采用回归分析和模糊集定性比较分析方法(fsQCA)进行假设检验和路径分析。研究表明,数字金融对供应链绩效起到了促进作用,从作用机制看,数字金融主要是通过优化供应链资源配置、促进供应链数字化转型,从而促进供应链绩效。而供应链集中度则负向调节了数字金融与供应链绩效之间的关系。经过内生性与稳健性检验之后,研究结论仍然成立。从异质性分析看,数字金融对非国有企业和中西部地区企业的供应链绩效促进作用更显著。同时,fsQCA的结果显示:受供应链集中度影响较弱的大型供应链企业,身处数字金融发展水平较弱的地域,必须实施低资源错配才能更加有效地促进供应链绩效的提升;在资源配置得到优化的情况下,无论其他条件如何,企业规模都是供应链绩效提升的关键条件。Digital finance has had a profound impact on the development of the social economy,and the supply chain economy is an important micro foundation for building a new development pattern and promoting economic dual circulation.Based on the sample of GEM SMEs and their top five suppliers and customers disclosed from 2011 to 2021,this paper explores the impact of digital finance on supply chain performance,and uses regression analysis and fuzzy set qualitative comparative analysis method(fsQCA)for hypothesis testing and path analysis.The research shows that digital finance has played a role in promoting supply chain performance.The mechanism test shows that digital finance mainly promotes supply chain performance by optimizing the allocation of supply chain resources and promoting the digital transformation of supply chain.Supply chain concentration negatively regulates the relationship between digital finance and supply chain performance.After endogeneity and robustness testing,the research conclusion still holds.From the perspective of heterogeneity analysis,digital finance has a more significant promoting effect on the supply chain performance of non-state-owned enterprises and enterprises in the central and western regions.At the same time,the results of fsQCA show that large enterprises that are less affected by supply chain concentration and are in a region with a weak level of digital finance development must optimize resource misallocation to more effectively promote supply chain performance.In the case of optimizing the allocation of resources,regardless of other conditions,the size of the enterprise is the key condition for the improvement of supply chain performance.

关 键 词：数字金融 供应链绩效 资源配置 数字化转型 供应链集中度 

分 类 号：F49[经济管理—产业经济] F832F274