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Digital technology innovation and corporate resilience

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  • Zhang, Baizhen
  • Zhang, Jingjing
  • Chen, Changrun

Abstract

This study identifies over 220,000 digital invention patent applications for digital invention and creates an index of enterprise-level digital technology innovations. Using an empirical analysis based on a two-way fixed-effects model, this study examines the impact of digital technology innovation on enterprise resilience. Results show that digital technology innovations improve enterprise resilience. This improvement is mainly achieved by reducing internal and external information asymmetry, reducing operating costs, improving management levels and operational efficiency, and increasing market profitability and sustainable earning capacity. Moreover, this study extracted all announcements containing phrases such as “strategic alliance,” “strategic co-operation,” and “business alliance” from 3.208 million announcements on the JUCHAO website and further filtered them to select those strategic alliances in digital technology as their content of collaboration and identified them as digital technology strategic alliances. The findings show that companies that join digital technology strategic alliances have a greater impact on improving enterprise resilience. Furthermore, this study found that digital technology innovation can significantly improve the enterprise resilience with better network infrastructure and a more comprehensive intellectual property protection system. This study expands the research scope of the microlevel effects of the digital economy and provides valuable insights for governments to optimize digital economy policies and enterprises to develop digital innovation strategies.

Suggested Citation

  • Zhang, Baizhen & Zhang, Jingjing & Chen, Changrun, 2024. "Digital technology innovation and corporate resilience," Global Finance Journal, Elsevier, vol. 63(C).
    • Handle: RePEc:eee:glofin:v:63:y:2024:i:c:s1044028324001145
    DOI: 10.1016/j.gfj.2024.101042
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    3. Li Long & Hanhan Wang, 2025. "Evaluating the Impact of Green Manufacturing on Corporate Resilience: A Quasi-Natural Experiment Based on Chinese Green Factories," Sustainability, MDPI, vol. 17(14), pages 1-30, July.
    4. Wang, Chenxi & Wang, Deli & Deng, Xincai & Wu, Shangrui, 2025. "Does the participation of non-state shareholders matter for state-owned enterprises’ resilience?," International Review of Economics & Finance, Elsevier, vol. 98(C).
    5. Marjan Mohd Noor C.A (M) & Jaya Kumar Shanmugam & Shafawaty Mohamad Shabri A.M (M) & Raja Ade Fitrasari Mochtar & Wan Kamarul Hazim Wan Ya C.A (M), 2025. "A Conceptual Framework to Examine the Time-Lag Effect of ICT Investment on Firm Performance," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(14), pages 1660-1669, July.
    6. Liu, Fang & Zhou, Dequn & Ding, Hao, 2026. "How digitalization affects energy technology innovation: The role of government digital regulation," Energy Policy, Elsevier, vol. 209(PB).
    7. Wang, Chen & Feng, Chunyuan, 2025. "Digital technology and degree of internationalization – The mediating role of supply chain concentration," Finance Research Letters, Elsevier, vol. 85(PA).
    8. Zhang, Shushan & Gu, Cheng & Zhang, Peiwen, 2025. "Alleviating dependence: High-speed rail opening and firms' supply chain dependence," Transport Policy, Elsevier, vol. 167(C), pages 116-129.
    9. Ma, Wenhui & Wang, Kai-Hua & Li, Xin, 2025. "Revolutionizing green finance: The synergistic spillover effects of AI, cloud computing, and blockchain," Technology in Society, Elsevier, vol. 83(C).
    10. Yutian Zhang & Linyan Ma & Feng Wei, 2025. "Digital Infrastructure and Agricultural Global Value Chain Participation: Impacts on Export Value-Added," Agriculture, MDPI, vol. 15(15), pages 1-22, July.
    11. Lianying Fu & Xu Han & Jizong Peng, 2025. "The impact of innovation-driven policies on urban resilience," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-16, December.
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    13. Ruiqiang Zheng & Huang Huang, 2024. "An Empirical Study on the Digital Economy, Fiscal Policy, and Regional Sustainable Development—Based on Data from Less Developed Regions in China," Sustainability, MDPI, vol. 16(22), pages 1-18, November.
    14. Ni, Yunsong & Sun, Jiaqi, 2025. "Digital transformation and the development of servitized manufacturing in China: An asset specificity perspective," Finance Research Letters, Elsevier, vol. 85(PB).

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    JEL classification:

    • D22 - Microeconomics - - Production and Organizations - - - Firm Behavior: Empirical Analysis
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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