Along with the deterioration of environmental problems, the green supply chain has become an important strategy for Chinese enterprises to improve their competitiveness in the global market. Most enterprises in green supply chains have promoted their green innovation and thus have improved their green performance by managing upstream and downstream enterprises. However, the green innovation capability might be also related to the financing efficiency and financing constraints of enterprises. To reveal the impact of financing efficiency and financing constraints on corporate green innovation, we conducted an empirical study. We considered a sample of 120 listed companies of the green supply chain from 2018 to 2020. The financing efficiency score was calculated using the input–output analysis method of data envelopment analysis, while the financing constraint score was measured using the financing constraints model. Further, multiple linear regression was used to estimate the regression coefficient and investigate the impacts of financing efficiency and financing constraints on corporate green innovation. The results show that a higher financing efficiency can promote green innovation and the financing constraints can limit the green innovation of green supply chain enterprises. Afterward, we provide a summary of innovation embedded in green supply chains.
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Yuning Zhou (2023) studied this question.
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