数字环境发展何以赋能企业韧性？——基于动态能力理论的机制分析和实证研究

How Does the Development of Digital Environment Empower Corporate Resilience?—Mechanism Analysis and Empirical Research Based on Dynamic Capabilities Theory

摘要: 本文基于“省份–企业”跨层数据构建面板回归和中介分析模型，探讨数字环境对企业韧性的影响效应和作用机制。研究发现：(1) 数字环境显著促进了企业韧性提升，且该效应具有源头治理特征：数字环境能够在一定程度缓释外部风险冲击，使企业免于“极限生存”困境。(2) 基于动态能力理论的机制研究表明，数字环境强化企业的环境感知力、提升企业的外部资源获取能力、增强企业的内部资源重组能力；并通过上述三条路径协同支撑企业韧性提升。(3) 当地区数字环境发展跨越一定阈值时，上述赋能效应会得到更充分释放。同时，相较于资本密集型行业，数字环境对于企业韧性的影响在技术密集型行业和劳动密集型行业更为凸显。本文从外部环境视角拓展了企业韧性的研究边界，为构建数字时代企业韧性支撑体系、畅通企业韧性的外部赋能机制提供了学理依据。

Abstract: Based on cross-level data of provinces and enterprises, this paper constructs panel regression and mediation analysis models to investigate the impact and mechanisms of the digital environment on corporate resilience. The main findings are as follows: (1) The digital environment significantly promotes corporate resilience, and this effect exhibits a source governance characteristic: to some extent, the digital environment mitigates external risk shocks, shielding firms from the “extreme survival” predicament. (2) Mechanism analysis grounded in dynamic capabilities theory reveals that the digital environment strengthens firms’ environmental perception capability, enhances their external resource acquisition capability, and improves their internal resource reconfiguration capability. These three pathways work synergistically to support the improvement of corporate resilience. (3) When the development of the regional digital environment surpasses a certain threshold, the aforementioned impact effects will be more fully unleashed. Meanwhile, compared with capital intensive industries, the enabling effect of the digital environment on enterprise resilience is more pronounced in technology-intensive industries and labor intensive industries. This paper expands the research boundary of corporate resilience from an external environmental perspective, providing theoretical foundations for building a corporate resilience support system in the digital era and facilitating the external empowerment mechanisms of corporate resilience.