The 2019 novel coronavirus disease (COVID-19) pandemic has significantly impacted several aspects of the society and the economy. A problem that needs prompt attention in this situation is the increasing difficulties faced by small- and medium-sized enterprises (SMEs) in raising capital, which has aroused great concern from multiple stakeholders such as public administrations and regulators. As the major supply of capital, financial service providers (FSPs) play a critical role in financing SMEs. However, how FSPs deal with SME financing during shocks has not yet been fully researched. Accordingly, in this study, a theoretical framework based on expectancy theory is proposed to explore the expected strategic adjustments of FSPs in financing SMEs. Specifically, this study investigates 272 FSPs in China on their expectancy and attitude on financing to SMEs during the COVID-19 pandemic. Furthermore, this study has divided FSPs into three categories: commercial banks, non-bank financial institutions, and credit-enhanced FSPs. Differences among these categories are compared and analyzed.

PurposeThe purpose of this study is to examine how the quality management of small and medium-sized enterprises (SMEs) impacts their supply chain financing performance (SCFP). This study also investigates the mediating roles of organisational dependence between quality management and the SCFP of SMEs, as well as the moderating role of environmental dynamics.Design/methodology/approachQuestionnaires were administered to 248 financial managers responsible for supply chain finance (SCF) in SMEs in China. Data analysis techniques used include necessary condition analysis and multiple regression analysis.FindingsResearch findings show that, in SCF, the quality management of SMEs positively predicts their SCFP through the mediation of the organisational dependence of the focal enterprises in the supply chain network. Environmental dynamics are also found to moderate the relationship between quality management and SCFP through the organisational dependence of capital providers.Originality/valueTo the best of our knowledge, this is the first study to explore the relationships between SMEs' quality management and their SCFP. Also, this study provides a new theoretical lens through which to study SCF by introducing signalling theory.

Abstract. Making a multi-attribute decision regarding the location of a swine farming facility is difficult because of the vagueness and uncertainty of the evaluation indicators. In this study, after the main factors affecting swine farming were considered, pork quality and the economic benefits of farming were analyzed. Twenty evaluation indicators were selected to establish an index for determining the location of a swine farming facility based on the analytic hierarchy process (AHP). The values of qualitative and quantitative indicators were normalized to construct a weighted standardized matrix. The application of grey correlation analysis and the technique for order preference by similarity to an ideal solution (TOPSIS) were applied to calculate the overall degree of closeness of each candidate site. The pros and cons of the candidate sites were sorted to construct a location decision model according to the size of the overall degree of closeness. The locations of existing Suqian swine farms were used to validate the location decision method. The result showed that the location decision model could obtain satisfactory results for determining the location of a swine farming facility. Keywords: AHP, Grey correlation, Location decision model, Swine farming location, TOPSIS.

Purpose In recent years, the application of blockchain in enterprise financing has become a hot topic in academic research. This study aims to review the existing literature, construct a knowledge framework for this research topic and propose an agenda for future research. Design/methodology/approach Based on 181 papers published from 2016 to 2020 in core journal databases in China and abroad, this study used bibliometric tools to identify and analyze an overview of literature publications, research hotspot trends and research theme clustering. This study also qualitatively analyzes literature from the dimensions of enabling mechanisms, multitechnology synergy, challenges, theoretical perspectives and research methods. Findings This study presents the research progress of blockchain applications in direct financing, bank credit, supply chain finance and other financing modes and analyzes the similarities and differences between domestic and international literature. This study also reveals enabling mechanisms of blockchain in enterprise financing, reflected as information quality improvement (data elements), trust mechanism innovation (business process) and collaboration structure enhancement (network structure). The study found several challenges (e.g. technological uncertainty, data security and organizational change) and trends (e.g. integrated innovation of multiple digital technologies). Additionally, the authors identified several gaps and opportunities for further research. Research limitations/implications This study adopts a strict strategy of selecting search terms when retrieving the literature, leading to the exclusion of certain papers on this topic. Practical implications This study provides valuable insights into the innovative development of enterprise financing modes enabled by blockchain and emphasizes that managers should clarify the applicable boundaries and necessary conditions of blockchain innovation in different financing scenarios to match technological innovation with industrial expectations. Originality/value This study constructs a knowledge framework on this topic based on a comprehensive review of existing research and proposes several important issues for future research based on the identified research gaps.

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