A Study of the Impact of Digital Finance on Corporate Supply Chain Resilience——Empirical Evidence from Listed Companies in China
The financial industry is the forerunner of social and economic develop-ment,and the booming development of digital finance provides new support for the optimisation and improvement of corporate supply chain resilience.Taking listed companies in China from 2011 to 2022 as the research sample,we empirically exam-ine the impact of digital finance on corporate supply chain resilience using two-way fixed effect,mediation effect and moderating effect models.The study finds that digital finance significantly enhances corporate supply chain resilience,and this con-clusion still holds after a series of robustness tests.The mechanism test finds that digital finance enhances supply chain resilience by weakening the degree of finan-cialisation of firms.Meanwhile,digital transformation helps to strengthen the effect of digital finance on supply.chain resilience.Heterogeneity analysis finds that the impact of digital finance on enterprise supply chain resilience is characterised by heterogeneity across different industries,enterprise natures and enterprise sizes.Based on the empirical results,this paper proposes countermeasure suggestions to establish a digital financial service platform,accelerate the digital transformation of enterprises,and focus on the differentiated characteristics of enterprises,with a view to providing reference for enhancing the supply chain resilience of enterprises in China.
Digital FinanceCorporate Supply Chain ResilienceDegree of Financial-isationDigital Transformation
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