86 / 2024-04-19 14:46:58

Study on the influence of supply chain finance on new quality productivite forces of enterprises

Supply Chain Management; Supply Chain Finance; New Quality Productivite Forces; The Entropy Method; Multivariable Linear Regression Model.

In the era of the digital economy, the continuous upgrading of science and technology has led to rapid changes in market demand and intensified competition, making enterprises face higher business risks. In order to effectively mitigate the risks caused by high external uncertainty, enterprises must strengthen their core competitiveness, increase investment in scientific and technological research and development, and promote the development of new quality productivite forces (NQPF). As a new financing model, supply chain finance (SCF) can provide enterprises with a large amount of funds required for R&D investment, to alleviate the financial pressure of enterprises, improve the innovation performance of enterprises, and enhance the core competitiveness of enterprises. Therefore, this paper aims to study how SCF affects the development of NQPF. Firstly, we select the panel data of Haier Group's financial statements from 2012 to 2023, and further process the financial statement data to enhance the relevance of data. Secondly, we construct the index system including three first-level indicators and twelve second-level indicators to analyze the influence of SCF on NQPF. As a explanatory variable in the model, NQPF is composed of two first-level indicators of the labor force and production tools.And the labor force is composed of five second-level indicators: the proportion of R&D personnel's salary, the proportion of R&D personnel, the proportion of highly educated personnel, the proportion of fixed assets, and the proportion of manufacturing expenses; The production tools are composed of seven secondary indexes: R&D depreciation and amortization ratio, R&D leasing cost ratio, R&D direct investment ratio, intangible assets ratio, net operating assets net interest rate, total assets turnover ratio, and owner's equity ratio. Besides, SCF is composed of the proportion of operating liabilities as dependent variable. The entropy method is used to determine the weight value of the index, and a multiple linear regression model is constructed to analyze the relationship between SCF and NQPF. Combining qualitative and quantitative research methods with financial management, this paper studies on the influence of SCF on NQPF. On the one hand, it enhances the relevance of report data and makes up for the weak correlation of traditional financial statement data analysis. On the other hand, it provides the index reference for NQPF of enterprises and deepens the basic research on the innovation performance of enterprises in the past.The results show that SCF can significantly improve the new quality productivity of enterprises by easing the financing constraints and reducing the financialization of enterprises, and NQPF can enhance the trust of upstream and downstream enterprises in the supply chain, to improve the integration degree of the supply chain and develop new quality productivity of the industrial chain, forming an effective virtuous circle. From the heterogeneity analysis, SCF has a more significant positive impact on the development direction of strategic industries of NQPF. Finally, this paper propose suggestions from three aspects, including the effective guide of government policies, the improvement of enterprise management, and the enhance of service supervision role for the third-party institutions. Therefore, with the premise of coordinating the forces of all parties, SCF can be used to promote the development of NQPF to enterprises and help the transformation and upgrading of the industrial chain and high-quality development.