Supply chain finance and its impact on mitigating the maturity mismatch between corporate investment and financing: evidence from China

This paper examines the relationship between supply chain finance and the mismatch between investment and financing maturities using data from Chinese A-share listed companies from 2010 to 2022. Empirical results demonstrate that company participation in supply chain finance significantly reduces the degree of investment-financing maturity mismatch, especially in regions with well-developed financial sectors and industries characterized by intense competition. Mechanism analysis indicates that this positive effect is achieved through reductions in inventory turnover cycles, decreases in cash flow volatility, as well as enhancements in investment efficiency and financial quality within companies.