Supply-Chain Finance and Investment Efficiency: The Perspective of Sustainable Development

Recent debates regarding supply-chain finance have separated financial attributes from attributes, ignoring their unity and the utilization efficiency of funds after financing. Can affect corporate investment efficiency? There is still insufficient research in existing studies. In this paper, multiple regression analysis used on 9757 listed companies China for period 2010–2020, to empirically test impact by integrating finance, we further analyze its mechanism. The results show that can alleviate under-investment inhibit over-investment. relationship stronger nonstate-owned corporations when operate a superior information environment. Further, constraint plays an intermediary role between under-investment, while social responsibility This study enriches relevant economic consequences provides new evidence how promote high-quality development real economy.