An empirical study on the impact of supply chain finance on the cost and performance of automobile enterprises

Abstract

In recent years, the emergence of many adverse factors, such as the new crown epidemic, the shortage of chips, and the rise in raw materials, has brought great challenges to the automotive manufacturing industry. Previous studies focused on supply chain finance as a means of financing to improve enterprise performance, but in fact, supply chain finance has a variety of functions, including financing function, management function and coordination function, and so on. This study focuses on the differences between the impact of different functions on enterprises. Taking the financial data of China's A-share listed vehicle manufacturing enterprises from 2016 to 2022 as the research sample, this study employs the fixed effect model to analyze the impact of different functions of Supply Chain Finance on enterprise performance, and proves the advantage of the financial attribute of supply chain finance in terms of cost. The results showed that supply chain finance can effectively reduce the cost of enterprises from the perspective of finance. When the financial leverage of enterprises is too high, supply chain finance is negatively correlated with enterprise performance. Supply chain finance from the perspective of supply chain can not only directly promote the improvement of enterprise performance, but also promote the improvement of enterprise performance by accelerating the circulation of goods