{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,15]],"date-time":"2026-06-15T21:47:21Z","timestamp":1781560041487,"version":"3.54.5"},"reference-count":57,"publisher":"Emerald","issue":"1","license":[{"start":{"date-parts":[[2021,1,13]],"date-time":"2021-01-13T00:00:00Z","timestamp":1610496000000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["JEIM"],"published-print":{"date-parts":[[2021,1,28]]},"abstract":"Purpose<\/jats:title>The purpose of this paper is to explore the impact of peer-to-peer (P2P) supply chain financing on companies' innovation efficiency.<\/jats:p><\/jats:sec>Design\/methodology\/approach<\/jats:title>This study takes the core companies that invest in the P2P platform as the research background and uses data for Chinese companies and the systematic Generalised Method of Moments (the systematic GMM) to explore the relationship between the improvement of supply chain efficiency, research and development (R&D) investment, and innovation efficiency.<\/jats:p><\/jats:sec>Findings<\/jats:title>This study indicates that core enterprise investment in P2P can cause a significant improvement in the efficiency of the supply chain and that this improvement can significantly motivate enterprises to increase R&D investment. Although the improvement of supply chain efficiency has no significant effect on improving companies' innovation efficiency, it can have a positive impact on innovation efficiency through the regulating role of R&D investment.<\/jats:p><\/jats:sec>Research limitations\/implications<\/jats:title>This research shows several limitations such as single industry and few companies involved, but it analyses the impact of P2P supply chain financing on R&D investment, and companies' innovation efficiency and broadens the research field of P2P supply chain financing.<\/jats:p><\/jats:sec>Practical implications<\/jats:title>This article provides a theoretical direction for listed companies to invest in P2P platforms and achieve supply chain management. The research on the regulating role of this article provides a new way of thinking for the study of enterprise innovation.<\/jats:p><\/jats:sec>Originality\/value<\/jats:title>This paper analyses the impact of the core enterprise investment in P2P on R&D investment and its subsequent impact on the companies' innovation efficiency, thus broadening the research field of P2P supply chain financing.<\/jats:p><\/jats:sec>","DOI":"10.1108\/jeim-07-2020-0258","type":"journal-article","created":{"date-parts":[[2021,1,13]],"date-time":"2021-01-13T08:43:54Z","timestamp":1610527434000},"page":"578-597","source":"Crossref","is-referenced-by-count":37,"title":["P2P supply chain financing, R&D investment and companies' innovation efficiency"],"prefix":"10.1108","volume":"34","author":[{"given":"Xiongfeng","family":"Pan","sequence":"first","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Shucen","family":"Guo","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]},{"given":"Junhui","family":"Chu","sequence":"additional","affiliation":[],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","published-online":{"date-parts":[[2021,1,13]]},"reference":[{"issue":"2","key":"key2021123113234718300_ref001","first-page":"162","article-title":"The causal effects of competition on innovation: experimental evidence","volume":"34","year":"2014","journal-title":"Journal of Law, Economics, and Organization"},{"issue":"1","key":"key2021123113234718300_ref002","first-page":"39","article-title":"Emergence of financial intermediaries in electronic markets: the case of online P2P lending","volume":"2","year":"2009","journal-title":"Business Review 2"},{"key":"key2021123113234718300_ref003","volume-title":"A Data Envelopment Analysis Approach to Evaluation of the Program Follow through Experiment in US Public School Education","year":"1978"},{"key":"key2021123113234718300_ref004","volume-title":"When Formal Finance Meets the Informal\u2013The Case of Wenzhou","year":"2019"},{"issue":"6","key":"key2021123113234718300_ref005","doi-asserted-by":"crossref","first-page":"2445","DOI":"10.1287\/mnsc.2017.2924","article-title":"Corporate innovation along the supply chain","volume":"65","year":"2019","journal-title":"Management Science"},{"issue":"3","key":"key2021123113234718300_ref006","doi-asserted-by":"crossref","first-page":"335","DOI":"10.1111\/j.1467-9485.2006.00383.x","article-title":"Research and development in small and medium-sized enterprises: the role of financial constraints and public funding","volume":"53","year":"2006","journal-title":"Scottish Journal of Political Economy"},{"issue":"4","key":"key2021123113234718300_ref007","doi-asserted-by":"crossref","first-page":"503","DOI":"10.1007\/s11365-009-0124-5","article-title":"Failure factors in small and medium-sized enterprises: qualitative study from an attributional perspective","volume":"6","year":"2010","journal-title":"The International Entrepreneurship and Management Journal"},{"issue":"4","key":"key2021123113234718300_ref008","doi-asserted-by":"crossref","first-page":"537","DOI":"10.1111\/j.1540-5915.2002.tb01655.x","article-title":"E-integration in the supply chain: barriers and performance","volume":"33","year":"2002","journal-title":"Decision Sciences"},{"issue":"2","key":"key2021123113234718300_ref009","doi-asserted-by":"crossref","first-page":"585","DOI":"10.1016\/j.ejor.2017.12.006","article-title":"Optimal Stackelberg strategies for financing a supply chain through online peer-to-peer lending","volume":"267","year":"2018","journal-title":"European Journal of Operational Research"},{"key":"key2021123113234718300_ref010","doi-asserted-by":"publisher","DOI":"10.1016\/j.ijpe.2019.09.011","article-title":"Who benefits from online financing? 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