Stakeholder perspectives on supply chain finance: a multi-methods approach

Purpose Despite the growing importance of supply chain finance (SCF) in global business operations, current research lacks a comprehensive understanding of how diverse stakeholders perceive, prioritize and engage with SCF mechanisms. This study addresses this gap by applying stakeholder theory to develop a multi-stakeholder perspective on SCF themes, tensions and value creation dynamics. Design/methodology/approach We employ a two-phase sequential mixed-methods design. Phase 1 utilizes Latent Dirichlet Allocation (LDA) techniques to analyze 288 academic articles and social media content (blogs, forums and industry reports) to identify key SCF themes. Phase 2 involves 18 semi-structured interviews with SCF stakeholders (academic experts, practitioners, financial institution representatives and technology providers) to capture stakeholder-specific perspectives and tensions. Data triangulation integrates insights across all sources, analyzed through a stakeholder theory lens using the Antecedents–Decisions–Outcomes (ADO) framework. Findings Six key themes emerge: (1) Risk Management in SCF, (2) Financial Strategies and Working Capital Management, (3) Sustainability and Resilience, (4) Digital Transformation and Technology, (5) Economic and Geopolitical Factors and (6) Responsible Financing and Ethical Considerations. Analysis reveals significant convergence between academic and practitioner perspectives on established themes (risk, finance and technology) but notable divergence on emerging concerns (geopolitical factors and ethical financing). Seven theoretical propositions are developed explaining stakeholder salience, tension dynamics and value creation mechanisms. Critical findings include: (1) stakeholder power-urgency mismatches inhibit digital transformation, (2) efficiency-ethics tensions vary by stakeholder salience and (3) geopolitical shocks reveal latent stakeholder conflicts. Originality/value This study makes three primary contributions. Theoretically, it is the first to apply stakeholder theory to multi-theme SCF analysis, developing propositions about stakeholder dynamics that extend beyond dyadic buyer-supplier relationships. Empirically, it triangulates academic literature, social media data and stakeholder interviews to reveal perspective gaps between researchers and practitioners. Methodologically, it demonstrates how data triangulation can identify emerging constructs (geopolitical risk, responsible financing) before they receive substantial academic attention. Practically, it provides stakeholder-specific recommendations for managing tensions and creating shared value in SCF networks.