Compared with conventional financing approaches, supply chain financing demonstrates superior adaptability in risk management, greater cost-effectiveness in financial control, and enhanced efficiency in approval processes, owing to its deep integration with industrial chains. This investigation explores the intrinsic relationship between digital innovation and corporate supply chain financing. To ensure the rigor and reliability of the research conclusions, we adopt an empirical research method based on the OLS econometric regression model to systematically examine the relationship between digital innovation and supply chain financing. Our findings reveal that digital innovation positively influences corporate operations and information disclosure quality, thereby facilitating supply chain financing acquisition. Specifically, digital innovation enhances both Tobin’s Q and information transparency, which consequently improves firms’ access to supply chain financing. Furthermore, we observe pronounced heterogeneity in digital innovation’s impact on supply chain financing accessibility, with more pronounced effects observed in state-owned enterprises, mature firms, and regions with less developed legal frameworks. From the perspective of theoretical contributions, this study enriches the application scenario of signal transmission theory. We verify that operational improvement driven by digital innovation can serve as an effective signal to alleviate information asymmetry in supply chain financing. Meanwhile, we supplement the research on information asymmetry theory by providing a digital solution to mitigate information frictions between supply chain partners. In terms of practical contributions, we provide actionable insights for firms. Specifically, our findings guide firms to leverage digital innovation to improve supply chain financing accessibility. Additionally, these findings offer references for supply chain stakeholders and relevant authorities to optimize financing support mechanisms.
Sun et al. (Wed,) studied this question.