关键词: 供应链网络结构, 供应链融资绩效, 企业创新能力, 供应链复杂性

Abstract: Small and medium-sized enterprises can obtain more financing opportunities by relying on supply chain networks, and the structural characteristics of supply chain networks are closely related to their financing performance. This paper, based on the research approach of “network–capability–performance”, investigates the relevant mechanisms that affect the financing performance of small and medium-sized enterprises in the supply chain network, the effect of supply chain network structure on the entire process of financing performance by affecting the innovation ability of enterprises, and the moderating role of supply chain complexity in the entire intermediary model. Based on survey data from over 300 enterprises in Xi’an, and using structural equation modeling and process analysis methods, the empirical findings reveal that the innovation capability of enterprises mediates the relationship between supply chain network heterogeneity and supply chain financing performance. However, supply chain complexity has a negative moderating effect throughout the mediating process, weakening the influence of innovation capability in complex supply chain environments. In contrast, the innovation capability of enterprises does not mediate the relationship between supply chain network size and financing performance. Nevertheless, supply chain complexity plays a negative moderating role in this pathway, dampening the positive influence of network size on financing outcomes. This paper not only deepens the application of information asymmetry theory and extends the theoretical understanding of supply chain finance, but also provides management references for supply chain financing practices of SME in different research contexts.

Key words: supply chain network structure, supply chain financing performance, enterprise innovation ability, supply chain complexity