- Original authors / creators
- Cheng Li; Yewen Wang
- Original publication
- PLOS ONE · Public Library of Science · 2024-07-19
- License & retained notices
- CC BY 4.0
© 2024 Li, Wang
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This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Article-specific license URL: https://creativecommons.org/licenses/by/4.0/ - Edition changes
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- Adjacent research, not a directly sampled family-office study. Applicability to a family office requires separate assessment. Given these gaps, this paper makes several contributions: First, by adopting an economic resilience index synthesis framework and constructing a multi-indicator enterprise resilience system based on microdata from listed companies, it provides a more reasonable and objective alternative to the single-indicator systems prevalent in previous literature, thus beneficially supplementing the micro-level research on enterprise resilience. Second, based on empowerment theory, this paper investigates the impact mechanisms of digital transformation on enterprise resilience from three aspects: agency costs, information transparency, and financing constraints. Additionally, it provides evidence of the differentiated impact of digital transformation on resilience across various enterprises, clarifying the potential limitations in enhancing enterprise resilience through digital transformation and offering more precise and feasible pathways for comprehensive digital development. Third, by incorporating the level of internal corporate governance into the research framework, this paper analyzes its significant role in enhancing enterprise resilience through digital transformation, thereby enriching research related to corporate governance in the digital era. The findings of the benchmark regression suggest that digital transformation can enhance the resilience level of enterprises. However, this conclusion may face endogeneity issues due to reverse causality. On the one hand, digital transformation can improve the resilience of enterprises in coping with market changes and risks. On the other hand, enterprises with high resilience can withstand certain levels of risk impact when facing market competition and external shocks, which is conducive to promoting digital transformation. The main limitations of this paper include the following three points. First, in terms of variable measurement, future research could explore enterprise resilience from different perspectives, such as the long-term survival rate of companies. Second, in analyzing mechanisms, this paper introduces agency costs, information disclosure, and financing constraints as mediating paths to explore how digital transformation affects enterprise resilience. Future research is needed to unravel further the "black box" of the mechanisms of digital transformation and its economic benefits. Third, in terms of research subjects, future studies could consider the ecosystem in which a company operates, examining whether the positive effects of digitization on a company can spill over to the supply chain industry chain, thereby enhancing the overall resilience and risk resistance of the supply chain industry chain.
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