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Does the integration of digital and real economies enhance corporate supply chain resilience? Evidence from China’s listed firms

Author

Listed:
  • An, Qiguang
  • Wang, Yongkai
  • Liu, Feini
  • Wang, Ruoyu

Abstract

Enhancing corporate supply chain resilience (CSCR) through digital technologies is vital for building a modern industrial system. This study examines whether the integration of digital and real economies (IDRE) strengthens CSCR, drawing on panel data from Chinese listed firms from 2011 to 2022. The empirical results indicate that IDRE significantly improves CSCR, with robust effects across multiple dimensions—resistance, recovery, and creativity. Mechanism analysis suggests that digital transformation, technological innovation, and improved internal control are key channels through which IDRE promotes CSCR. Heterogeneity analysis further reveals that the positive impact of IDRE is more pronounced among non-state-owned enterprises, smaller firms, and those located in regions with more developed financial systems. These findings provide timely empirical evidence to inform strategies for fostering supply chain resilience in the digital era.

Suggested Citation

  • 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).
    • Handle: RePEc:eee:finlet:v:85:y:2025:i:pa:s1544612325012115
    DOI: 10.1016/j.frl.2025.107953
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