数字化转型与企业供应链韧性——来自中国上市公司与供应商的证据

Digital Transformation and the Resilience of Enterprise Supply Chain:Evidence from Chinese Listed Companies and Suppliers

提升供应链韧性是发展现代产业体系、构建新发展格局的关键着力点。本文基于2007—2019年中国上市公司与供应商数据,从供应商配置与存货角度研究了企业数字化转型对供应链韧性的影响。研究发现,企业数字化转型有利于降低供应商集中度,增加企业存货,多元的供应源与充足的存货储备有助于抵御供应链中断的风险,塑造供应链韧性。机制研究表明,企业数字化转型通过增强企业对外部资源的管控能力和内部资源的整合能力,进而增强了供应链韧性。异质性分析发现,人工智能技术与云计算技术的运用对提升供应链韧性的作用最为明显;外部交易成本高的地区,数字化转型对打造供应链韧性的效果更显著;同时,数字化的稳链作用更多体现在面临外部信息约束较高的企业。进一步研究得出,企业数字化转型有利于促使进口供应链多元化,分散进口供应链风险。本文的研究为推进数字技术保障产业链供应链安全提供了理论依据与经验证据。

Enhancing supply chain resilience is key to developing a modern industrial system and building the new development paradigm.Based on the data of Chinese listed companies and suppliers from 2007 to 2019,this paper investigates the impact of enterprise digital transformation on supply chain resilience from the perspectives of supplier allocation and inventory.This paper shows that firm digital transformation is conducive to reducing supplier concentration,increasing enterprise inventory,diversified suppliers and sufficient reserves are conducive to resisting the risk of supply chain disruption and shaping supply chain resilience.Mechanism studies show that enterprise digital transformation enhances supply chain resilience by increasing the enterprise's ability to control external resources and improving the enterprise's ability to integrate internal resources.Heterogeneity analysis finds that artificial intelligence technology and cloud computing technology plays the most obvious role in enhancing supply chain resilience;digital transformation is more effective in creating supply chain resilience in regions with high external transaction costs;at the same time,the chain-stabilizing effect of digitization is more often reflected in firms facing high external information constraints.Further research concludes that firm digital transformation is conducive to prompting the diversification of imported supply chains and diversifying imported supply chain risks,but the chain-stabilizing effect of digital transformation is also less effective for products with high import dependence.The conclusions provide theoretical basis and empirical evidence for promoting digital technology to secure the industrial chain and supply chain.