The antecedent configurations of the supply chain finance adoption in China: Evidence from SEM and fsQCA findings

Xinzhu Pu, Shuochen Luan and Xiaobo Li

Finance Research Letters, 2025, vol. 79, issue C

Abstract: Supply chain finance (SCF) is an emerging financing solution for small and medium enterprises (SMEs) around the world. As an innovative financing scheme, the adoption and diffusion of supply chain finance is affected by various factors. Therefore, drawing on the Technology-Organization-Environment theoretical framework, our research uses partial least squares and fuzzy set qualitative comparative analysis simultaneously to explore the impact of different factors in various dimensions on the adoption and diffusion of SCF, based on the survey data of 211 SMEs in China. The empirical test results show that all of demand urgency, industry pressure and government support are the essential factors that affect the further diffusion of SCF adoption. Specially, demand urgency is the core condition in the antecedent configurations of SMEs to adopt SCF. Interestingly, technical compatibility and resource readiness have no significant impact on the adoption of SCF, but they play an important role in the antecedent configuration of SCF adoption combined with other factors. The research conclusions can not only provide management enlightenment for potential SCF adopters, but also provide suggestions for relevant policies of further diffusion of SCF.

Keywords: SCF; fsQCA; TOE theoretical framework; SMEs (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:79:y:2025:i:c:s1544612325005653

DOI: 10.1016/j.frl.2025.107302

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