|
|
|
Abstract Taking A-share listed companies on the Shanghai and the Shenzhen Stock Exchanges from 2009 to 2022 as research samples, the study examines the impact of corporate R&D investment on supply chain resilience and its mechanism based on signaling theory and transaction cost theory. The findings reveal a significant positive correlation between corporate R&D investment and supply chain resilience. Mechanism tests indicate that R&D investment can send positive signals to stakeholders and reduce supply chain transaction costs, thereby enhancing both the resistance and recovery capacities of the supply chain and ultimately improving its resilience. A heterogeneity analysis based on the characteristics of enterprises shows that the positive impact of R&D investment is more significant in the samples with a higher degree of digital transformation and more internal R&D experience. Furthermore, the positive correlation between R&D investment and supply chain resilience is more pronounced during periods of high macroeconomic prosperity and in regions with a high degree of intellectual property protection.
|
|
Received: 15 July 2024
|
|
|
|
|
|
