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RETRACTED: Digital Transformation and Enterprise Resilience: Evidence from China

Author

Listed:
  • Dong Wang

    (School of Management, Xi’an University of Finance and Economics, Xi’an 710100, China)

  • Shengli Chen

    (School of Management, Xi’an University of Finance and Economics, Xi’an 710100, China)

Abstract

Digital transformation has become a key strategy for enterprises to enhance resilience in effectively responding to external shocks and achieving sustainable development in the context of the global spread of the epidemic and the increase of uncertainties in external environments. In this paper, the impact and mechanism of digital transformation on corporate resilience are examined based on data of listed Chinese companies from 2007 to 2020. Our research results reveal that digital transformation can significantly enhance corporate resilience. This conclusion remains unchanged after controlling for endogeneity issues and performing various robustness analyses. Digital transformation has heterogeneous effects in the dimensions of corporate property rights, industries, and regions, with state-owned enterprises, manufacturing, and eastern enterprises benefiting more. Digital transformation primarily reinforces corporate resilience through mechanisms that improve human capital, strengthen innovation capabilities, ease financing constraints, and enhance internal control. Therefore, the government must guide macro policies, pay attention to the leading role of state-owned enterprises, and narrow the regional digital divide to better enact digital transformation and promote corporate resilience. Simultaneously, in the process of digital transformation, enterprises should combine the characteristics and development stages of their industry by exploring the development requirements and strategically implementing them in stages in a targeted manner. The findings of this paper provide new empirical evidence for the economic impact of enterprise digital transformation, as well as useful inspiration for enhancing enterprise resilience and promoting high-quality development.

Suggested Citation

  • Dong Wang & Shengli Chen, 2022. "RETRACTED: Digital Transformation and Enterprise Resilience: Evidence from China," Sustainability, MDPI, vol. 14(21), pages 1-23, October.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:21:p:14218-:d:958976
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    References listed on IDEAS

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    3. Zhang, Dongyang, 2023. "Can digital finance empowerment reduce extreme ESG hypocrisy resistance to improve green innovation?," Energy Economics, Elsevier, vol. 125(C).
    4. Yang, Jiahui & Wang, Si & Xu, Lei, 2025. "Green finance innovation and corporate resilience: Evidence from China's reform zones," Finance Research Letters, Elsevier, vol. 81(C).
    5. Qigan Shao & Changchang Jiang & James J. H. Liou & Peiyao Su & Ying Yuan & Zhu Dan, 2025. "Exploring the Influencing Factors of Digital Transformation: Empirical Results From SMEs in China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 46(4), pages 2364-2380, June.
    6. Qi Li & Jingyi Hou, 2025. "RETRACTED ARTICLE: Industrial Digitalization and High-Quality Development of Manufacturing Industry: Synchronizing Growth in the Yangtze River Economic Belt," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 4059-4101, March.
    7. Tian, Zongtao & Shen, Yongchang & Chen, Zhibin, 2024. "How does bank branch expansion affect ESG: Evidence from Chinese commercial banks," Economic Analysis and Policy, Elsevier, vol. 82(C), pages 502-514.
    8. Shanshan Gao & Wenqi Li & Jiayi Meng & Jianfeng Shi & Jianhua Zhu, 2023. "A Study on the Impact Mechanism of Digitalization on Corporate Green Innovation," Sustainability, MDPI, vol. 15(8), pages 1-21, April.
    9. Jiang, Li & Li, Bin & Zhang, Min, 2025. "The impact of digital transformation on the efficiency of corporate resource allocation: Internal mechanisms and external environment," Technological Forecasting and Social Change, Elsevier, vol. 215(C).
    10. Yiming Zhao & Aizhi Ren & Ziang Lin & Zicong Miao, 2025. "RETRACTED ARTICLE: Cultural Barriers to Digital Innovation: Understanding the Impact of Gambling Culture on Chinese Firms," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 4782-4817, March.
    11. Wiweko Probojakti & Hamidah Nayati Utami & Arik Prasetya & Muhammad Faisal Riza, 2025. "Driving sustainable competitive advantage in banking: The role of transformational leadership and digital transformation in organizational agility and corporate resiliency," Business Strategy and the Environment, Wiley Blackwell, vol. 34(1), pages 670-689, January.

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