Generative AI for easing SMEs’ financing constraints: Empirical evidence from E-commerce supply chain finance

This paper examines the impact of generative artificial intelligence on alleviating FC for small and medium-sized listed companies (SMEs) in China's A-share market, based on data from 2013 to 2023. The results indicate a significant negative relationship between the level of generative artificial intelligence (AI) and financing constraints (FC). Furthermore, the development of e-commerce supply chain finance plays a mediating role between the level of generative AI and FC. The level of digital inclusive finance (DIF) has a moderating effect between generative AI and FC. Additionally, the negative impact of generative AI on FC exhibits heterogeneity between state-owned enterprises (SOEs) and non-state-owned enterprises (NSOEs), as well as among enterprises in the eastern, central, and western regions of China. The conclusions of this study provide new empirical evidence for understanding how AI technology and supply chain finance can collaboratively alleviate FC faced by small and medium-sized enterprises.