供应链金融对中小企业绩效的影响:基于拓展资源基础观的实证

The impact of supply chain finance on the performance of SMEs:an empirical study based on the extended resource-based perspective

供应链金融因其整合信息流、资金流、商流、物流的优良基因特质,中小企业融资难且融资贵这一问题有望在供应链金融面前迎刃而解。尽管供应链金融有助于解决中小企业融资问题,然而其对企业绩效的影响仍有待进一步探索。本文从拓展的资源基础观理论出发,基于“资源-能力-绩效”的逻辑框架,构建了在环境竞争性的调节下,供应链融资方案采用通过供应链能力影响企业绩效的理论模型。本研究发放调查问卷600份,回收有效调研数据376份,经多元回归分析发现:供应链融资方案采用对企业绩效具有正向影响;供应链能力是供应链融资方案采用影响中小企业绩效的重要内在机制;环境竞争性对于供应链融资方案采用与企业绩效间的关系具有正向调节作用。

Due to the excellent genetic characteristics of supply chain finance,which integrates information flow,capital flow,commercial flow and logistics,the financing difficulty and expensive problem of SME is expected to be easily solved in front of supply chain finance.Although supply chain finance helps solve the financing problems of SME,its impact on enterprise performance remains to be further explored.Based on the extended resource-based theory and the logical framework of“resource-capability-performance”,this paper constructs a theoretical model of how supply chain financing solution adoption affects enterprise performance through supply chain capability considering the moderation effect of environmental competitiveness.In this study,600 questionnaires are sent out and 376 valid survey data are collected.Multiple regression analysis showed that supply chain financing solution adoption has a positive impact on enterprise performance;supply chain capability is an important internal mechanism of supply chain financing solution adoption affecting SME performance;environmental competitiveness positively moderates the relationship between supply chain financing solution adoption and enterprise performance.