The Impact of Supply Chain Finance on Sustainable Growth: Evidence from a Panel of Iraqi Manufacturing Firms

This study investigates the impact of supply chain finance (SCF) on the sustainable growth rate (SGR) of manufacturing firms in Iraq.Using panel data from six firms listed on the Iraq Stock Exchange from 2004 to 2021, we examine the relationship between the cash conversion cycle (CCC), as a proxy for SCF, and SGR.We also explore the mediating role of financial risk, proxied by stock price volatility, in this relationship.Our findings suggest that SCF has a significant positive impact on SGR, and that financial risk partially mediates this relationship.These results highlight the importance of SCF in promoting sustainable growth and have important implications for firms and policymakers in Iraq and beyond.However, the study is limited by its small sample size and the use of a single proxy for SCF.Future research could explore alternative measures of SCF and examine the generalizability of our findings to other contexts.