Retraction Note: Moving Towards Sustainable Development: Can Supply Chain Finance Promote Corporate Green Innovation?

Abstract

Supply chain finance is a financial service approach to provide financing for supply chain members and realize vertical integration. Can supply chain finance affect the green innovation of enterprises? There is still a lack of deeper understanding in existing research. To bridge this gap, we utilize Chinese A-share listed companies in Shanghai and Shenzhen from 2010 to 2020 as the research sample, we find that supply chain finance helps to enhance firms’ green innovation, and this result remains valid after a series of robustness tests. It is further found that SCF increases the level of firms’ R&D investment as well as reduces agency costs, which stimulates firms’ green innovation growth. At the same time, SCF is more effective in increasing green innovation among non-state-owned firms, firms with high analyst focus, and firms located in cities with high levels of financial market development.