Supply Chain Finance and Financing Efficiency of Technology-based SMEs

Abstract

Shortage of funds and inefficient financing have been the main problems faced by science and technology-based SMEs. Supply chain finance is aiding science and technology-based SMEs in obtaining financing opportunities and reducing the cost and difficulty of financing. This paper constructs a model for assessing financing efficiency with the help of Data Envelopment Analysis (DEA). And combined with the financing constraints commonly encountered by SMEs in the financing process, which affect the financing efficiency, it proposes a mediation effect model to analyze the influence of financing constraints. At the same time, the financing constraints faced by SMEs in science and technology are examined through an empirical model, and the mitigating effect of supply chain finance on financing constraints is analyzed through a model test. In the analysis of financing efficiency, the interest expense and pre-tax debt financing cost of DL science and technology-based companies are decreasing after supply chain finance financing. The interest expense is reduced by 2,009,200,200 in 2022 compared with 2019, and the pre-tax debt financing cost decreases to 6.12%. The proportion of supply chain financing in financing loans is more than 50%, the speed of capital turnover and financing efficiency have significantly improved, and the debt servicing capacity, operating capacity, and profitability have been improved.

Keywords

• supply chain finance
• dea
• financing constraint
• financing efficiency
• 97m50