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Digital finance, value cocreation, and supply chain resilience: Evidence from listed manufacturing firms in China

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  • Chen, Guangren
  • Yu, Zuwei

Abstract

This study investigated the impact of digital finance on supply chain resilience using data from China's manufacturing industry during the years 2012–2022. Findings indicate that digital finance significantly improved supply chain resilience. The mechanism test revealed that value cocreation is a vital transmission mechanism through which digital finance affects supply chain resilience. Financial regulation exerts a positive moderating effect on the relationship between digital finance and supply chain resilience. Heterogeneity analysis indicates that the impact of digital finance on supply chain resilience was primarily observed in mature firms and regions with a favorable business environment.

Suggested Citation

  • Chen, Guangren & Yu, Zuwei, 2024. "Digital finance, value cocreation, and supply chain resilience: Evidence from listed manufacturing firms in China," Finance Research Letters, Elsevier, vol. 70(C).
    • Handle: RePEc:eee:finlet:v:70:y:2024:i:c:s1544612324013515
    DOI: 10.1016/j.frl.2024.106322
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    References listed on IDEAS

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    Cited by:

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    2. Zhou, Yuanxiang & Liu, Huayan & Chen, Chan & Ma, Yingqi, 2025. "The impact of digital inclusive finance on green economic efficiency: Pathways to inclusive sustainability," Research in International Business and Finance, Elsevier, vol. 76(C).
    3. An, Qiguang & Wang, Yongkai & Liu, Feini & Wang, Ruoyu, 2025. "Does the integration of digital and real economies enhance corporate supply chain resilience? Evidence from China’s listed firms," Finance Research Letters, Elsevier, vol. 85(PA).
    4. Guo, Xiao & Li, Rongxin, 2025. "Climate physical risks and corporate supply chain resilience: How do investor sentiment and risk-taking behaviors influence supply chain operations?," Finance Research Letters, Elsevier, vol. 85(PA).
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    6. Wang, Mansi & Yu, Xinxin & Hong, Xinyi & Yang, Xiaotao, 2025. "Can digital finance promote green innovation collaboration in enterprises?," Global Finance Journal, Elsevier, vol. 65(C).
    7. Zeng, Heqi & Wen, Li, 2025. "How does intelligent transformation enhance the security of industrial and supply chains?," Finance Research Letters, Elsevier, vol. 84(C).
    8. Wang, Yongpei & Xu, Zhenyu & Liang, Jia, 2026. "Impact of transportation hubs on urban economic resilience: Evidence from national comprehensive transportation hub cities," Transportation Research Part A: Policy and Practice, Elsevier, vol. 203(C).
    9. Wang, Linmei & Duan, Longlong, 2025. "Optimization of business environment, supply chain finance, and industrial chain resilience," Finance Research Letters, Elsevier, vol. 86(PF).
    10. Li, Jianghao & Liu, Junzhi, 2025. "Senior-level party building reinforcement, financial deepening, and supply chain resilience of listed companies," Finance Research Letters, Elsevier, vol. 85(PE).
    11. Jie Yan & Hailing Wang, 2025. "Does the Development of Digital Finance Enhance Urban Energy Resilience? Evidence from Machine Learning," Sustainability, MDPI, vol. 17(14), pages 1-25, July.
    12. Song, Yuchen & Zhu, Mingqi & Wang, Ye, 2025. "Corporate financialization, digital transformation, and industrial supply chain resilience: Mechanisms based on R&D investment and financial regulation," International Review of Financial Analysis, Elsevier, vol. 102(C).
    13. Fan, Congying & Peng, Ke, 2025. "How does supply chain finance drive corporate green transition? The role of credit resource availability," Finance Research Letters, Elsevier, vol. 86(PA).
    14. Ren, Yousheng & Ren, Baoquan, 2025. "Does patient capital enhance supply chain resilience in manufacturing enterprises? Evidence from China’s Listed Companies," Finance Research Letters, Elsevier, vol. 86(PG).
    15. Liu, Fang & Xie, Linling & Liu, Wei, 2025. "Impact of Fintech on supply chain resilience," International Review of Financial Analysis, Elsevier, vol. 103(C).

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