Purpose

This study aims to investigate the interaction effect between offering supply chain finance (SCF) programmes and sustainability ratings on the liquidity performance of buyers and suppliers.

Design/methodology/approach

The study uses a unique sample of buyers that each have an SCF programme. The sample is complemented with financial information and sustainability scores. The data is analysed through a random effects model.

Findings

Aligning with recent advances in SCF literature, the results confirm a tendency for SCF programmes to favour buyers over suppliers. However, the relationship between SCF programme adoption and liquidity performance for buyers and suppliers is positively moderated by the strong sustainability performance of both parties.

Practical implications

Buyers and suppliers are advised to implement and adopt effective SCF programmes that are beneficial for both parties. For buyers, the authors suggest leveraging on SCF programmes as incentives to foster sustainable behaviour among suppliers. For suppliers, the authors recommend caution before joining programmes offered by buyers that do not perform well on sustainability.

Social implications

Enhancing sustainability within global supply chains and fostering favourable payment practices towards suppliers are crucial for policy development and regulation. The findings clarify the connection between both components, offering valuable insights for policymakers in this domain.

Originality/value

The study is built on a manually picked, unique database of buyers offering SCF programmes to their suppliers. This allows, across a large sample, an evaluation of the differences between buyers that offer SCF programmes and those that do not.

中文翻译：

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（不）可持续的组合：供应链金融、可持续性评级和流动性

目的

本研究旨在调查供应链金融（SCF）计划与可持续性评级之间对买家和供应商流动性表现的相互作用影响。

设计/方法论/途径

该研究使用了独特的买家样本，每个买家都有供应链金融计划。该样本还补充了财务信息和可持续性分数。通过随机效应模型对数据进行分析。

发现

与 SCF 文献的最新进展相一致，结果证实了 SCF 计划有利于买家而不是供应商的趋势。然而，供应链金融计划的采用与买家和供应商的流动性表现之间的关系受到双方强劲的可持续发展表现的积极调节。

实际影响

建议买家和供应商实施和采用对双方都有利的有效供应链框架计划。对于买家来说，作者建议利用供应链金融计划作为激励措施，促进供应商之间的可持续行为。对于供应商来说，作者建议在加入那些在可持续发展方面表现不佳的买家提供的计划之前要小心谨慎。

社会影响

增强全球供应链的可持续性并促进对供应商有利的支付方式对于政策制定和监管至关重要。研究结果阐明了这两个组成部分之间的联系，为该领域的政策制定者提供了宝贵的见解。

原创性/价值

该研究建立在人工挑选的独特数据库的基础上，该数据库包含向其供应商提供供应链金融计划的买家。这样可以通过大样本评估提供 SCF 计划的买家和不提供 SCF 计划的买家之间的差异。