Does Fintech Adoption Improve Sustainable Supply Chain Management? An Innovation-Intensive Environment Perspective
基于2018-2022年中国A股上市公司面板数据，实证发现金融科技采纳能显著提升可持续供应链管理绩效，主要通过增强信息透明度和优化决策能力实现，且绿色创新、数字创新政策及高管创新导向起正向调节作用。
Financial technology, or Fintech, is used to describe disruptive new technologies that help firms manage their financial operations and improve the cost effectiveness of customer services. However, the role of Fintech adoption in sustainable supply chain management performance is unclear. Using the panel data from Chinese A-share listed companies from 2018 to 2022, in this article, we empirically demonstrate that Fintech adoption can significantly improve sustainable supply chain management performance. This improvement is primarily attributed to Fintech's ability to enhance information transparency and refine decision-making capabilities, thereby fostering sustainability. Furthermore, green innovation, digital innovation policies, top management team forward-looking innovation orientation, and persistent innovation orientation strengthen the relationship between Fintech adoption and sustainable supply chain management performance. Green innovation enables firms to comply with environmental regulations and gain a competitive advantage, thereby facilitating the integration of Fintech into sustainable supply chain management. Digital innovation policies provide regulatory support and establish norms, creating a conducive environment for technology applications. The innovation orientation of the top management team drives the continuous optimization of supply chain processes and services through Fintech. This research contributes to the current industrial sustainability debate by integrating Fintech adoption and sustainable supply chain management from an innovation-intensive environment perspective.