“三链”协同视域下“新基建”的企业韧性赋能效应——基于智慧城市试点的准自然实验
文摘
财经
2024-12-06 14:00
上海
“三链”协同视域下“新基建”的企业韧性赋能效应——基于智慧城市试点的准自然实验
The Enabling Effect of Enterprise Resilience in “New Infrastructure” under the “Three Chain” Collaborative Vision: A Quasi-natural Experiment Based on China’s “Smart City” Pilot
《财经研究》2024年50卷第10期 页码：79-93 online：2024年10月3日
中：邹颖1 , 石福安1 , 吴玉彬2
英：Zou Ying1, Shi Fuan1, Wu Yubin2
作者单位：1. 首都经济贸易大学 会计学院，北京 100070; 2. 兰州财经大学 会计学院，甘肃 兰州 730020
摘要：在数字化浪潮与宏观经济形势多变的背景下，提升企业韧性既关乎自身发展质量，也关乎中国产业经济的稳定繁荣与国内外市场风险防范。文章以2007—2022年中国A股上市公司为研究样本，利用多期双重差分模型考察了“新基建”与企业韧性之间的关系。研究发现，以智慧城市试点为先行探索的“新基建”有助于提升企业韧性，以“信息基础设施、融合基础设施、创新基础设施”为核心的“新基建”通过信息赋能效应完善供应链治理，资源赋能效应加速产业链整合，创新赋能效应促进价值链重构，从而提升企业韧性。此外，“新基建”的企业韧性赋能效应在金融发展水平较低的地区以及信息透明度较低和“专精特新”企业中更强。文章对“新基建”的微观效应与企业韧性培育进行了理论探索，为数字技术与韧性管理的深度融合提供了实践启示。
关键词：“新基建”；企业韧性；供应链治理；产业链整合；价值链重构
Summary: In the context of the coexistence of the digital wave and macroeconomic turbulence, how to enhance the resilience of enterprises is not only related to the quality of their own development, but also to the prosperity and stability of China’s industrial economy and the prevention of domestic and foreign market risks. Taking China’s A-share listed companies from 2007 to 2022 as the sample, this paper investigates the relationship between “new infrastructure” and enterprise resilience by using a multi-period DID model. The results show that the “new infrastructure” first explored by the “Smart City” pilot can help enhance enterprise resilience, and this conclusion is still valid after robustness tests such as parallel trend and placebo. Mechanism testing finds that the “new infrastructure” with “information infrastructure, integration infrastructure, and innovation infrastructure” as the core improves supply chain governance through the information enabling effect, accelerates industrial chain integration through the resource enabling effect, and promotes value chain reconstruction through the innovation enabling effect. Further analysis shows that the enabling effect of enterprise resilience in “new infrastructure” is enhanced in regions with lower levels of financial development, enterprises with lower information transparency, and specialized and new enterprises. This paper provides empirical evidence for the enabling effect of micro-enterprises in “new infrastructure”, and also provides a new direction and perspective for the cultivation of enterprise resilience under VUCA normal, which has strong practical significance for enterprises to overcome business difficulties and restore growth, and provides practical inspiration for the sustainable development of enterprises under VUCA normal.
Key words: “new infrastructure”; enterprise resilience; supply chain governance; industrial chain integration; value chain reconstruction
DOI：10.16538/j.cnki.jfe.20240413.104
收稿日期：2023-12-14
基金项目: 国家社会科学基金一般项目（20BGL072）；甘肃省哲学社会科学规划项目（2023YB010）；甘肃省高等学校创新基金项目（2023A-074）；首都经济贸易大学研究生学术新人计划资助项目（2024XSXR09）
