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Can innovation policies enhance the resilience of corporate value chains?

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  • Liang, Wuchao
  • Wang, Ying
  • Wu, Ruopeng

Abstract

This study uses data from publicly listed companies from 2013 to 2022 to explore the relationship between innovation policy-driven factors, digital financial transformation, and corporate value chain resilience. The research findings indicate that innovation policy-driven factors positively impact value chain resilience, with differences between state-owned and private enterprises. Digital financial transformation plays a moderating role in this relationship, while R&D investment acts as a mediator, with effects varying across firms of different sizes. The study enhances theoretical understanding of innovation policy and digital finance, and offers practical advice for policymakers and managers to boost value chain resilience.

Suggested Citation

  • Liang, Wuchao & Wang, Ying & Wu, Ruopeng, 2025. "Can innovation policies enhance the resilience of corporate value chains?," Finance Research Letters, Elsevier, vol. 80(C).
    • Handle: RePEc:eee:finlet:v:80:y:2025:i:c:s1544612325005914
    DOI: 10.1016/j.frl.2025.107328
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    References listed on IDEAS

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    Cited by:

    1. Wang, Jianbo & Niu, Dayong & Kang, Jing, 2025. "Can national industrial investment funds enhance enterprise resilience?," Finance Research Letters, Elsevier, vol. 85(PC).
    2. Wang, Kenneth (Wei) & Zhong, Cassie (Xiaoqian), 2025. "The dark side of innovation policy uncertainty," Finance Research Letters, Elsevier, vol. 85(PC).

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