IDEAS home Printed from https://ideas.repec.org/a/eee/finlet/v90y2026ics154461232502495x.html

Digital intelligent transformation, financial collaboration, and economic resilience of tourism enterprises

Author

Listed:
  • Huan, Yu
  • Liu, Dong
  • Huang, Liyong
  • Luo, Chunxiang

Abstract

This paper, based on a sample of tourism enterprises listed on the Shanghai and Shenzhen A-shares from 2009 to 2023, explores the impact of digital intelligent transformation and financial collaboration on the economic resilience of tourism enterprises. Empirical testing results indicate that: digital intelligent transformation significantly enhances the economic resilience of tourism enterprises; financial collaboration also significantly enhances the economic resilience of tourism enterprises; financial collaboration plays a mediating role in the relationship between digital intelligent transformation and the economic resilience of tourism enterprises; the impact of digital intelligent transformation on the economic resilience of tourism enterprises shows heterogeneity between state-owned enterprises (SOEs) and private enterprises (PEs); the impact of financial collaboration on the economic resilience of tourism enterprises also shows heterogeneity between SOEs and PEs.

Suggested Citation

  • Huan, Yu & Liu, Dong & Huang, Liyong & Luo, Chunxiang, 2026. "Digital intelligent transformation, financial collaboration, and economic resilience of tourism enterprises," Finance Research Letters, Elsevier, vol. 90(C).
  • Handle: RePEc:eee:finlet:v:90:y:2026:i:c:s154461232502495x
    DOI: 10.1016/j.frl.2025.109246
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S154461232502495X
    Download Restriction: Full text for ScienceDirect subscribers only

    File URL: https://libkey.io/10.1016/j.frl.2025.109246?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to

    for a different version of it.

    References listed on IDEAS

    as
    1. Anna Polukhina & Marina Sheresheva & Dmitry Napolskikh & Vladimir Lezhnin, 2025. "Digital Solutions in Tourism as a Way to Boost Sustainable Development: Evidence from a Transition Economy," Sustainability, MDPI, vol. 17(3), pages 1-34, January.
    2. Chun-Yi Lin & Chen Li & Sadaf Mahmood & Feng Guo & Zuoyi Qian, 2024. "RETRACTED ARTICLE: Integrating Culture and Tourism: A Resilient Scale for Digital Transformation Innovation," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 16122-16155, December.
    3. Zhao, Xuejin & Yao, Xinbin & Huang, Jiayi, 2025. "Climate risks and financial stability: Evidence from China," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    4. Liang, Peng & Liang, Lin & Tang, Xinhui, 2024. "The impact of digital-oriented mergers and acquisitions on enterprise labor demand," International Review of Financial Analysis, Elsevier, vol. 96(PB).
    5. Liu, Na & Xu, Qinqiao & Gao, Meng, 2024. "Digital transformation and tourism listed firm performance in COVID-19 shock," Finance Research Letters, Elsevier, vol. 63(C).
    6. Wen, Huwei & Zhong, Qiming & Lee, Chien-Chiang, 2022. "Digitalization, competition strategy and corporate innovation: Evidence from Chinese manufacturing listed companies," International Review of Financial Analysis, Elsevier, vol. 82(C).
    7. Rui Tang, 2024. "Can digital economy improve tourism economic resilience? Evidence from China," Tourism Economics, , vol. 30(6), pages 1359-1381, September.
    8. Xu, Ting & Shen, Zhenni & Zhang, Hui & Zhang, Chenglong & Huang, Honglei, 2024. "Digital HP finance's role in the economic resilience of enterprises’ digital transformation," Finance Research Letters, Elsevier, vol. 63(C).
    9. Dou, Bin & Guo, SongLin & Chang, XiaoChen & Wang, Yong, 2023. "Corporate digital transformation and labor structure upgrading," International Review of Financial Analysis, Elsevier, vol. 90(C).
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Li, Xiaoqi & Zhu, Siyi, 2025. "How digital transformation can affect corporate technology innovation: The role of income gap," Finance Research Letters, Elsevier, vol. 75(C).
    2. Li, Wenjuan & Liu, Xinghua & Zhou, Lei, 2025. "The role of digital finance in enhancing export competitiveness: insights from China's listed companies," Finance Research Letters, Elsevier, vol. 71(C).
    3. Zhang, Yuchi, 2025. "AI-driven industrial structure upgrading: The moderating mechanism of inclusive finance development and regional differences analysis," Finance Research Letters, Elsevier, vol. 80(C).
    4. Zou, Xinni & Fu, Zongping & Tian, Zhengjie & Peng, Zheng, 2026. "Can the application of artificial intelligence technology and financial innovation drive the digital transformation of enterprises?," International Review of Financial Analysis, Elsevier, vol. 109(C).
    5. Xiao, Yu & Wu, Junxian & Tu, Yongqian, 2025. "Intensity of environmental regulation, integration of digital and physical realms, and level of corporate green development," Finance Research Letters, Elsevier, vol. 78(C).
    6. Jiang, Wenjuan & Wang, Xin, 2024. "Enterprise digital transformation empowers supply Chain stability," Finance Research Letters, Elsevier, vol. 66(C).
    7. Van, Huong Vu & Kim, Cuong Ly, 2025. "Does increased digital transformation decrease corporate cash holdings? The moderating role of business environment quality," Finance Research Letters, Elsevier, vol. 75(C).
    8. Han, Yue & Yang, Jie & Ying, Limeng & Niu, Yanfang, 2024. "The impact of corporate digital transformation on labor employment," Finance Research Letters, Elsevier, vol. 60(C).
    9. Xu, Chongchong & Lin, Boqiang, 2025. "The AI-sustainability Nexus: How does intelligent transformation affect corporate green innovation?," International Review of Financial Analysis, Elsevier, vol. 102(C).
    10. Li, Haibo & Xiao, Biyun, 2025. "Strengthening provincial export resilience through the digital economy: Analysis of impacts, global value chain integration, and regional disparities in China," Finance Research Letters, Elsevier, vol. 76(C).
    11. Zhen, Xiaofei & Zhou, Yiyang, 2025. "Digital transformation and corporate creditworthiness," Finance Research Letters, Elsevier, vol. 74(C).
    12. Li, Yunxian & Li, Fen, 2025. "Digital economy, the income gap, and regional crime rates in China," Finance Research Letters, Elsevier, vol. 75(C).
    13. Xue, Kunkun & Cui, Ziyi & Sun, Zepeng & Sun, Peipei, 2026. "Does digital technology increase the labor income share of enterprises?," Technological Forecasting and Social Change, Elsevier, vol. 222(C).
    14. Jiang, Yiyun & Wang, Xiufeng & Sam, Toong Hai & Vasudevan, Asokan, 2024. "Digital transformation, equity pledge and labor income share," Finance Research Letters, Elsevier, vol. 64(C).
    15. Li, Fan, 2025. "Pledge of controlling shareholder's equity, digital transformation, and green innovation," Finance Research Letters, Elsevier, vol. 76(C).
    16. Zhao, Lihong & Yuan, Huiai, 2024. "Digital transformation and the herd effect of corporate green investment," Finance Research Letters, Elsevier, vol. 63(C).
    17. Xu, Yanhui & Deng, Fuhua & Feng, Qianbin, 2025. "The effect of tax enforcement digitalization on corporate digital transformation: Evidence from China's listed companies," Economic Analysis and Policy, Elsevier, vol. 85(C), pages 1105-1134.
    18. Zhang Xiufan & Fan Decheng, 2024. "Research on Digital Transformation and Organizational Innovation of Manufacturing Firms Based on Knowledge Field," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(4), pages 15860-15903, December.
    19. Yuzhong Lu & Cheng Xu & Bingsheng Zhu & Yanqi Sun, 2024. "Digitalization transformation and ESG performance: Evidence from China," Business Strategy and the Environment, Wiley Blackwell, vol. 33(2), pages 352-368, February.
    20. Wang, Wei & Wang, Hong, 2025. "The impact of women at the helm: Catalyzing or impeding digital transformation in family businesses?," International Review of Financial Analysis, Elsevier, vol. 108(PA).

    More about this item

    Keywords

    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:finlet:v:90:y:2026:i:c:s154461232502495x. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/frl .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.