The Enabling Effect of Enterprise Resilience in"New Infrastructure"under the"Three Chain"Collaborative Vision:A Quasi-natural Experiment Based on China's"Smart City"Pilot
In the context of the coexistence of the digital wave and macroeconomic turbulence,how to enhance the resilience of enterprises is not only related to the quality of their own development,but also to the prosperity and stability of China's industrial economy and the prevention of domestic and foreign market risks.Taking China's A-share listed companies from 2007 to 2022 as the sample,this paper investigates the re-lationship between"new infrastructure"and enterprise resilience by using a multi-period DID model.The res-ults show that the"new infrastructure"first explored by the"Smart City"pilot can help enhance enterprise resilience,and this conclusion is still valid after robustness tests such as parallel trend and placebo.Mechan-ism testing finds that the"new infrastructure"with"information infrastructure,integration infrastructure,and innovation infrastructure"as the core improves supply chain governance through the information enabling ef-fect,accelerates industrial chain integration through the resource enabling effect,and promotes value chain re-construction through the innovation enabling effect.Further analysis shows that the enabling effect of enter-prise resilience in"new infrastructure"is enhanced in regions with lower levels of financial development,en-terprises with lower information transparency,and specialized and new enterprises.This paper provides empirical evidence for the enabling effect of micro-enterprises in"new infrastruc-ture",and also provides a new direction and perspective for the cultivation of enterprise resilience under VUCA normal,which has strong practical significance for enterprises to overcome business difficulties and re-store growth,and provides practical inspiration for the sustainable development of enterprises under VUCA normal.
"new infrastructure"enterprise resiliencesupply chain governanceindustrial chain integrationvalue chain reconstruction
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