Research On The Influence Of Supply Chain Finance On The Innovation Ability Of Small And Medium-sized Enterprises In Scientific And Technological Innovation

The new generation of science and technology innovation industry is one of the emerging strategic industries,and it is an important pillar of Chinese economic development.Now the arrival of the information era,the new science and technology innovation industry develops rapidly,constantly promotes industrial reform,promotes the digital economy of our country and step up the new level."Science and innovation+ Medium,small and micro enterprises" have a wide range of development prospects,but at the same time,such enterprises still face the problem of insufficient capital at home and abroad.In order to overcome this development difficulty,commercial banks solve it through the innovation of financial services.In recent years,the supply chain finance model effectively alleviates the information asymmetry between banks and smes in science and innovation.With the help of the credit and guarantee of core enterprises,it provides low-cost credit funds for smes in science and innovation,helps smes in science and innovation solve the problems of financing difficulties and insufficient investment in research and development,and then promotes the high-quality development of the science and innovation industry.This thesis studies the current financing situation of smes and the development of supply chain finance.Based on the research objects of the scientific and technological innovation smes searched by China Stock Scientific and Technological Innovation Board and other related software during 2016-2020,the research hypothesis is proposed by referring to the research achievements made at home and abroad in the fields of supply chain finance,financing constraints,financial development level and enterprise innovation ability.This thesis analyzes the influence relationship between supply chain finance and innovation ability by constructing a fixed effect model with both fixed time individuals,and analyzes the intermediary effect by introducing the financing constraints of enterprises.Finally,at the macro level,the influence mechanism of supply chain on innovation ability is deepened by financial development level,and the hypothesis is verified by heterogeneity analysis,adjustment effect analysis and threshold effect analysis.To explore the influence of supply chain finance on the innovation ability of small and medium-sized enterprises in scientific and technological innovation at the level of financing and macro level.Finally,the empirical results show that:(1)Supply chain finance will promote the innovation ability of smes.(2)Supply chain finance can alleviate the financing constraints of smes in scientific and technological innovation;(3)The promotion effect of supply chain finance on the innovation ability of scientific and technological innovation enterprises can be realized by easing the financing constraints;(4)The application of supply chain finance can improve the innovation ability of smes in scientific and technological innovation,and this effect is heterogeneous among different regions;(5)The level of financial development will affect the promoting effect of supply chain finance on innovation ability.Therefore,in the relevant suggestions,for each participant in the supply chain,while smes in science and innovation are trying to improve themselves,financial institutions should vigorously develop supply chain financial services,and combine with government functions to solve the financing problems of smes in science and innovation with the help of enterprise information advantages.