金融科技与供应链融资绩效

Financial Technology and Supply Chain Financing Performance

摘要: 随着中国经济迈入新发展阶段，如何在现有制度框架内通过优化资源配置实现更高效的金融服务实体经济，进而为高质量发展创造条件，已成为亟待破解的命题。基于2019~2023年沪深A股上市公司数据，文章从金融科技视角切入，深入探讨其对企业供应链融资绩效的影响效果及作用机制。研究发现，金融科技的引入显著提升了企业供应链融资绩效。机制分析表明，金融科技可以通过缓解信息不对称以及提升企业创新能力进而增加企业供应链融资绩效。异质性分析显示，在非国有企业和大规模企业中，这一赋能效应更为突出。研究结论为切实提升金融服务实体经济效能、充分发挥金融科技在资源配置中的决定性作用提供了经验证据和决策参考。

Abstract: As China’s economy enters a new stage of development, how to optimize resource allocation within the existing institutional framework to achieve more efficient financial services for the real economy, thereby creating conditions for high-quality development, has become an urgent issue to address. Based on data from Shanghai and Shenzhen A-share listed companies from 2019 to 2023, this paper examines the impact and mechanisms of FinTech on corporate supply chain financing performance from the perspective of financial technology. The study finds that the introduction of FinTech significantly enhances corporate supply chain financing performance. Mechanism analysis reveals that FinTech can improve corporate supply chain financing performance by mitigating information asymmetry and boosting corporate innovation capabilities. Heterogeneity analysis further indicates that this empowering effect is more pronounced in non-state-owned enterprises and larger firms. The research findings provide empirical evidence and decision-making references for effectively enhancing the efficiency of financial services to the real economy and fully leveraging the decisive role of FinTech in resource allocation.