Objective - The digital transformation of enterprises is an important tool for building a Digital China and developing New Productivity, while supply chain finance brings profound innovation to financial services. Existing research lacks an in-depth exploration of the relationship between Supply Chain Finance and Digital Transformation.

Methodology/Technique – Based on theoretical analyses, this paper explores the impact of SCF on enterprise's DT and its internal mechanism using the data of A-share non-financial enterprises in China from 2010 to 2022.

Findings – SCF significantly improves enterprises' DT levels, and this conclusion holds for major event shocks. Mechanism analysis shows that this effect is primarily achieved through resource allocation and risk smoothing.

Novelty – This paper expands the research boundary at the micro level and provides new evidence and ideas to help SCF better serve the real economy and accelerate enterprise DT.

Type of Paper - Empirical

Keywords: Supply chain finance, Digital transformation, Earnings enhancement effect, Cost improvement effect, Risk smoothing effect.

JEL Classification: G53, D14

URI: https://gatrenterprise.com/GATRJournals/JFBR/vol10.4_1.html

DOI: https://doi.org/10.35609/jfbr.2026.10.4(1)

Pages 01 – 13