Can Supply Chain Innovation Promote Corporate Green Transformation? ----Evidence from the Supply Chain Innovation and Application Pilot Policy in China

Using China's 2018 Supply Chain Innovation and Application Pilot Policy as a quasi-natural experiment, this paper investigates the impact and causes of supply chain innovation on corporate green transformation. It finds that supply chain innovation has a significant positive impact on corporate green transformation and the causal relationship is verified through a series of robustness tests. Especially, this effect exhibits heterogeneity. The positive effect is more pronounced among firms located in non-resource-based cities than firms in resource-based cities, and greater for labor-intensive firms than asset-intensive firms. Further study shows that the alleviation of financing constraints and the improvement of innovation efficiency are two main reasons for the positive effect. These findings offer empirical evidence that supply chain innovation can promote corporate green transformation and provide a reference for governments to develop and refine policies in supply chain management.