Sustainable supply chain finance, financing risk and the ambidextrous innovation of SMEs: the moderating role of technological turbulence

Financing risk is the main bottleneck restricting the ambidextrous innovation of small and medium-sized enterprises (SMEs). Integrating sustainable concepts into supply chain finance is the key to reducing the financing risk and promoting the ambidextrous innovation of SMEs. However, as a new concept, how to quantify sustainable supply chain finance (SSCF) and how it affects SME ambidextrous innovation through financing risk still need to be explored. We use 241 data points from senior executives of SMEs for the empirical test. The study found that SSCF can reduce SME financing risk, while financing risk inhibits SME ambidextrous innovation. At this time, SSCF can promote SME ambidextrous innovation through the intermediary channel of reducing financing risk. In addition, the effect of financing risk on ambidextrous innovation varies with the degree of technological turbulence in the external environment. The results show that more SSCF can construct a risk barrier for SMEs and safeguard their ambidextrous innovation.