Determinants of supplier payment times before and during the pandemic: Empirical evidence from UK firms
研究了2018-2021年509家英国企业数据，发现疫情并未延长付款时间，反而在制度压力（如付款准则）下付款更快，而供应链金融却与更长的付款时间相关。
Timely, compliant payment to suppliers is a significant issue in purchasing and supply management (PSM) but research into its determinants is limited. Here we draw on social responsibility, fintech and digital purchasing literatures, and institutional and stakeholder theories to explain variations in supplier payment times. A sample of 509 firms spanning 2018–2021 is used for panel regression analysis. Contrary to expectations, the COVID-19 pandemic did not lead to longer payment times or reduced compliance with payment terms, which we attribute to state-funded business supports and corporate decisions to accelerate payment to vulnerable suppliers. Institutional pressure in the form of payment codes was associated with shorter payment times and improved compliance during the pandemic. Supply chain finance (SCF) was associated with longer payment times during the pandemic while e-invoicing had no effect. Overall, institutional pressure seems to contribute to faster payment but stakeholder-centred fintech and digitalisation does not.