Research On The Impact Of Supply Chain Finance On Enterprise Innovation Investment Under Supply Chain Concentration

In the 2022 government work report,Premier Li Keqiang pointed out that at present,it is in the recovery stage impacted by the huge epidemic,and efforts should be made to improve the quality of development and promote the sustained,healthy and upward development of the economy.In the context of the new development concept,we should improve the quality of development throughout the economic and social development,adhere to innovation driven development,and especially point out the important role played by enterprises in this development planning process.Innovation activities are the key measures to improve the product innovation ability and the competitiveness of enterprises.However,due to the limitations of their own funds,talents,technology and other conditions,most enterprises are often unable to obtain sufficient external financing due to their own disadvantages such as insufficient funds and narrow financing channels.In recent years,the development of supply chain finance has alleviated the internal information asymmetry between lending and borrowing by sharing core enterprise credit,provided new financing methods for enterprises,greatly alleviated the financing problems of enterprises and promoted enterprise innovation activities.At present,the competition between upstream and downstream enterprises in the supply chain is becoming increasingly fierce.Supply chain concentration has gradually evolved into one of the important influencing factors of enterprise innovation activities,and has also become an important part of supply chain management.As the main participants in the whole supply chain,suppliers and customers have an important impact on the creation,sales,operation and many other aspects of the enterprise.All production and operation activities of the enterprise largely depend on the supply chain.Therefore,a good supply chain relationship is very important for the enterprise to reduce costs and increase cash flow.In view of this,in the era of supply chain competition with a high degree of marketization,this paper discusses the impact of Supply Chain Finance on enterprise innovation investment under supply chain concentration,and further studies whether supply chain concentration plays a regulatory role between the two.Firstly,this study systematically collates the existing literature on supply chain finance,supply chain concentration and enterprise innovation investment,focusing on the impact of Supply Chain Finance on enterprise innovation investment and the impact of supply chain concentration on enterprise innovation investment.Through literature review,it is found that few scholars have studied the relationship between enterprise financial development and enterprise innovation investment.At the same time,the relevant research on the impact of supply chain concentration on enterprise innovation investment has not formed a unified conclusion.Therefore,on this basis,the paper puts forward the research problems,analyzes and tries to solve the problems.Secondly,it analyzes the concepts and theories involved in the article,mainly including supply chain finance,supply chain concentration,related concepts of enterprise innovation investment,stakeholder theory,information asymmetry theory and technological innovation theory.Thirdly,by combing the relevant research and putting forward the research hypothesis in combination with the actual situation,and taking the Shanghai and Shenzhen A-share listed enterprises as the research object,integrating the relevant sample data,using the empirical analysis method to conduct an empirical analysis to explore the relationship between supply chain finance,supply chain concentration and enterprise innovation investment.Finally,combined with the research results and the actual needs of the current development,this paper provides some suggestions on how to better develop supply chain finance and how to effectively manage the supply chain relationship.The results show that: first,there is a positive correlation between the degree of supply chain finance and innovation investment.Second,there is a negative relationship between supplier concentration and enterprise innovation investment,while there is a positive relationship between customer concentration and enterprise innovation.Thirdly,supplier concentration directly plays a negative role in regulating the financial degree of supply chain and the internal innovation investment of enterprises;At the same time,customer concentration is also directly related to the relationship between supply chain finance and enterprise innovation investment,and plays a positive regulatory role.