Supply Chain Finance, Accounting Conservatism and Corporate Financing Efficiency

Abstract

This paper takes all listed companies from 2016 to 2021 as research samples to study the impact of supply chain finance and accounting conservatism on corporate financing efficiency, and explore whether they have a substitution effect on financing efficiency or complement each other. The results show that supply chain finance and accounting conservatism can significantly improve financing efficiency. Accounting conservatism can be divided into conditional robustness and conditional robustness, among which conditional robustness and non-conditional robustness have positive effects on financing efficiency. The influence of accounting conservatism and supply chain finance on financing efficiency can be replaced by each other, that is, the existence of one variable will weaken the promoting effect of the other variable on financing efficiency.